If you are thinking about buying a home and you feel like now it the right time, make sure you are 100% ready. We’re sure you are, but we want to share with you the most common pitfalls we’ve seen buyers make. Remember, you can always upgrade.
- Buying a home prematurely. It’s not about timing the market, rather it’s making sure your are mentally and financially ready. Make sure you have saved all you need and have eliminated major debt. Don’t jump the gun, rather wait until you can truly afford your home.
- Buying a home you can’t truly afford. No matter what the market dynamics are, don’t overextend yourself. Make sure you can make the mortgage payment on your home 10 years in the future without refinancing it. This means sitting down and running all your financial numbers.
- Buying a home that’s too small or big. People who have purchased very large homes often realize that they aren’t using all the rooms and many either sell or downsize. And people who buy too small wind up uncomfortable and frustrated. Start by thinking about what you want your home to look like in 10 years, will you have overnight guests, do you entertain, do you need a small office, do you have children.
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Joe Moshe at Charles Rutenberg Realty Long Island
Joe Moshe is the Broker/Owner of Charles Rutenberg Realty Long Island, offering 100% commission to Agents. With over 1000 agents, it's one of the fastest growing, most progressive real estate brokerages on Long Island.
Latest posts by Joe Moshe (see all)
- What Can Homebuyers Expect After COVID-19? - May 1, 2020
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- Fed Issues Emergency Interest Rate Drop to Counter Coronavirus Effect - March 10, 2020
