Some common mistakes that homebuyers make include:
- Not getting pre-approved for a mortgage before shopping for a home
- Failing to consider the long-term costs of homeownership, such as property taxes and maintenance expenses
- Not having a clear idea of their own needs and wants in a home
- Not shopping around for the best mortgage rate and terms
- Failing to get a home inspection before purchasing
- Not having a contingency plan for unexpected expenses
- Not considering the location and potential for appreciation
- Focusing too much on the short-term and not thinking about the long-term potential of the property
- Not having a realistic budget and overstretching financially to buy a home
- Not working with a real estate agent or not finding the right one who can guide through the process.
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