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Today we are going to talk about top 5 very important homebuying mistakes, that can cost you thousands of dollars and in the markets like NYC, even hundreds of thousands of dollars.
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0:00 - Intro
1:09 - Common Mistakes Overview
4:13 - Mistake 1
5:43 - Mistake 2
6:30 - Mistake 3
10:59 - Mistake 4
13:18 - Mistake 5
If you are a buyer and have done any sort of research, you’ve probably heard or read about those generic homebuying mistakes that you can see in every article, or in almost every video..
Before talking about those important but not-so-obvious mistakes, let’s briefly go through the generic homebuying mistakes that you see everywhere, just to refresh your memory and get those out of the way, which are
1. Not working with a real estate agent.
2. Buying more home than you can afford.
3. Not inspecting the property. However, in NYC the inspection situation is a little bit different depending on the type of property you are buying, and I made a full video on this topic as well.
4. Not budgeting for closing costs.
5. Not getting a pre-approval letter before starting the process.
6. Having unrealistic budget and expectations.
There are more, and every mistake has a few sub mistakes, if we can call it that way, but those are pretty much the generic ones.
Now, this is where the topic of this video starts. Non-obvious mistakes
1. Working with the first agent you meet without properly interviewing them.
2. Hiring an agent based on his or her personality only.
3. Not following the right step-by-step process
4. Having unrealistic budget and expectations and not getting pre-approved
5. Buying significantly less apartment and not considering any short-term changes in your housing needs.
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