Avoid These 5 Mistakes When Buying in Salt Lake City

Selling your Salt Lake City home? Get a free home value report
Buying a Salt Lake City home? Search all homes for sale

Today, I want to go over 5 common mistakes that hurt homebuyers. 

1. Getting too emotionally attached. 
This is an emotional business. You’re buying your dream home! You’ve probably written down a checklist of what you want for your ideal property. However, once you find it, you may be willing to pay too much for it. You may even make a mountain out of a molehill and wind up not buying the property at all. You need a real estate agent with you to help you make logical decisions. 

2. Finding a home yourself. 
The other week, someone reached out to me because they had already found a property and they just wanted to consult with me about the home. It turned out that the property was overpriced by $40,000. At the end of the day, it just wasn’t a good deal, and the buyers were disappointed. Always work with an agent to make sure you’re looking at the right homes. 

3. Skipping evaluations or inspections.
You need to have an exit strategy. I was talking to another client about a property that needs a lot of fixing up. If they want to move in the next 5 years, they need to have a plan to make those repairs. Whenever you buy a home, you need to consider what will happen when it’s time to sell the property again.  

4. Not saving enough money. 
Renovations can be costly. My team and I evaluate each property to determine what it will cost you. We can even bring engineers and contractors in beforehand so you know exactly what you’re getting into. 

5. Not getting pre-approved. 
You need to get pre-approved in today’s market. You would not believe how many people have missed out on properties because they weren’t pre-approved. Save your money and make sure you have your pre-approval paperwork in hand. You will stand out from other buyers because you look legitimately ready to purchase a home. 

If you have any questions, give me a call or send me an email. I would be happy to help you!

Click here to learn about the pros and cons of short sales and bank owned properties.