Experts say there are a ton of dumb mistakes that people make when buying a home that cost them in the long run. We’ve gathered some tips to help you avoid them.
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00:00Experts say there are a ton of dumb mistakes that people make when buying a home that cost them in the long run.
00:06We've gathered some tips to help you avoid them.
00:09Money Talks News knows that the worst thing you can do is ignore your credit score.
00:13Lenders save their best interest rates for homebuyers with the best credit scores.
00:18So if your score is hovering somewhere in the 600s or below, it's best to work on boosting it before buying property.
00:25The site also says homeowners should avoid falling for an expensive loan.
00:30Consider shaving at least 10% off the bank-approved loan amount and use that as your maximum price when house hunting.
00:37Real Estate Group Wellington suggests that all new homeowners budget for repairs and replacements and make sure you have the funds available in case of emergency.
00:47And finally, experts say it's important that you do not skip out on an inspection.
00:51Regardless of whether you're buying new construction or a historic home, you need to have it inspected before finalizing the sale
00:58if you want to avoid costly or dangerous problems.