As a luxury real estate agent with over two decades of experience, I’ve seen many buyers make mistakes in the home-buying process. With the current housing market, these mistakes can be costly and potentially cause you to lose out on your dream home. In this blog post, I will focus on the town of Woodbury, MN, and share three common mistakes buyers make and how to avoid them.
#1) Working with a friend. Even if they have a real estate license, they must still be qualified to represent you…
When buying a home, it can be tempting to work with someone you know, like a friend or family member with a real estate license. However, even though they’re licensed, they still need to be your right agent. When buying a home, it’s essential to work with an agent who has experience in the specific market you’re interested in. In Woodbury, MN, the market is competitive, and having an agent who knows the area well can make all the difference. They’ll be able to give you insider information on upcoming listings and off-market opportunities that you won’t find on popular real estate websites.
#2) Getting caught up in considering homes at the top of a buyer’s budget
Another mistake I see buyers make is getting caught up in considering homes at the top of their budget. It’s important to remember that buying a home is more than just the purchase price. You need some leftover money to make repairs and changes to the house. If you’re stretching yourself too thin financially, you may need more funds to make necessary repairs, leading to even more expenses. Work with your agent to find homes that fit your budget, leaving room for unexpected costs and updates.
#3) Have a plan — buyers don’t have a plan
One of the biggest mistakes I see buyers make is needing a plan. Buying a home is a significant investment, and it’s essential to have a plan in place before you start looking. Sit down with an agent to know what the process looks like, what you’re looking for in a home, and your non-negotiables. This will help you narrow down your search and save you time and money in the long run.
Overall, the housing market in Woodbury, MN, is competitive, and working with an experienced agent who knows the area is essential. The inventory is lower than ever, which means working with experts will give you opportunities to off-market opportunities. Take your time considering homes at the top of your budget, and ensure you have a plan before you start your home-buying journey. By avoiding these common mistakes, you’ll be well on your way to finding your dream home in Woodbury, MN.
