When it comes time to buy a house, you’re going to be so excited and focus on bedrooms, square footage, and upgrades. However, there are things you’re going to HATE about buying a house, too! It’s not all about picking out paint colors and mentally placing furniture. There are so many hurdles, and some of them are going to piss you off. But that’s also why you have great real estate agents! We are here to help you navigate it and get to the finish line.
#1: The number of documents your lender will ask for (especially if you’re self-employed)
We have had clients get mad at the first lender they spoke with because of the many documents they required up front. They switched to another lender because they didn’t ask for so many things. Guess what? That lender also needed all the same documentation; they just asked for it later.
Trust us, it’s better to get all the paperwork over to your mortgage lender ASAP. Otherwise, there could be surprises that prohibit you from buying your dream home!
#2: Missing out on a house because you assumed it would stay on the market
Yes, we know that the house has been on the market for six months. It’s not stressing you out about making an offer. Well, we have seen it a million times now. All of a sudden, a house catches some momentum and a bidding war comes out of nowhere!
When this happens, we find buyers get fussy with us about it. The listing agent is not obligated to tell other agents they have an offer.
What it comes down to is if you like the house, make the offer. You just never know who else is lurking and ready to pounce on it, too!
#3: Finding the RIGHT real estate agent
Where do you even get a real estate agent from? (Trust us, whisper the words “real estate” and five will appear around you.)
Many people ask their friends and family for a recommendation. Others consult reviews on real estate sites or Google. We have worked with many people who found us on Reddit as well!
There are so many ways to find an agent these days. But, let us tell you a lil something – you do not need to work with who your parents or your best friend worked with. You need to find the right fit for YOU. Interview agents. Pay attention to who is listening, asking questions, and giving you info on how the process works!
#4: Inspections
LAWD! This might be the worst part of buying a home. We can’t lie to you, it’s super stressful!
Why? Because unless you’re in construction, you have no idea what all this info being thrown at you even is! Is everything the home inspector telling you a life and death situation? (SPOILER: IT’S NOT) However, it’s hard to discern all this info and decide what is truly important.
Inspections are one of the main reasons you should work with a really good real estate agent.
#5: Packing & Moving
Yes. Packing and moving are a huge pain in the ass. But when you’re buying a house, this is a reality of moving. Do yourself a favor, though, and hire movers.
#6: Appraisal
Once you cross the hurdle of inspections, you’re waiting to see if the house actually appraises for your contract price. This can take 10-14 days. We find homebuyers get very stressed about this part of the transaction.
If the house doesn’t appraise, we will need to re-negotiate with the seller, and not all are willing to do so. So, we understand why people hate this part of the home-buying process.
#7: Your friends’ and parents’ opinions
As your New Orleans real estate agents, you’re gonna HATE buying a house once the peanut gallery starts chiming in.
What can you do about this? Honestly, all you can do is not include them or don’t tell them until AFTER you buy the house.
We have seen many friends and family ruin the homebuying experience or talk people out of a house they love because it’s not to their taste. This is YOUR home purchase, and it should only be about you!
[Important Reading: Look at Houses Without Friends]
#8: Not finding the perfect house/FOMO
Look. Let’s just cut to the chase. There is no perfect house. And there will always be another house. Getting FOMO will only make you leave behind houses that you love and later regret not buying.
Our advice: once you find the house that speaks to you and you have an accepted offer, get off Zillow!
#9: Insurance Prices
We can’t control. There is nothing your real estate agent or insurance agent can do about the insurance prices. It is what it is.
Later on, you can make improvements that may help lower your insurance rates. Make sure you are chatting with your mortgage lender and real estate agent about this before deciding on your house budget. The cost of insurance can significantly impact your buying power.
#10: The extra costs
You’re definitely going to hate this part of the homebuying process. This whole shebang can be expensive! And then there are extra costs! Inspections, your deposit, movers, and other miscellaneous costs – it all starts adding up. Make sure you’ve budgeted for more than just your down payment.
[Important Reading: Extra Costs of Home Buying]
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Don’t do that! The no-nos while home buying