If you’re browsing the Flushing real estate market, it’s tempting to dive in headfirst. After all, the sooner you score your new digs in Flushing, the better!
Hold up! While you need to move quickly in the Flushing real estate market, you'll also need to be an informed buyer. Between staying on budget, securing a mortgage and finding the home that’s right for you, it’s easy to get carried away.
Never fear! Read and learn as we share four of the most common mistakes that homebuyers make:
Mistake #1: Looking at Flushing real estate listings before getting a mortgage preapproval.
Browsing through available listings is the fun part of purchasing a home. Discussing mortgages is not-so-fun. Your home search will go a lot smoother if you get preapproved for a mortgage first. You’ll know how much home you can afford, and your preapproval tells sellers that you are a committed buyer.
Mistake #2: Focusing on the home and ignoring the neighborhood.
If you don’t love your location, you’re more likely to experience buyer’s remorse. Remember this key point: You can improve upon a home, but you can’t change a community. When you go on an in-person tour of one of your frontrunners, take a walk around the neighborhood to make sure that you can see yourself living there.
Mistake #3: Forgetting to factor in the bills.
HOA fees are the norm in Flushing real estate, and they can be a steep monthly financial commitment. When you’re determining what you can afford, don’t forget to account for HOA fees plus additional costs for utilities, parking or public transportation.
Mistake #4: Failing to look past a conventional loan.
There are countless loan programs available to finance Flushing real estate, and they don’t all require a 20% down payment. If you’re strapped for cash, ask your mortgage broker to review FHA, VA and USDA loan options with you.
We can’t wait to welcome you to Flushing! Contact Flushing Realty today for advice on how to be an informed buyer.
Contact us at (718) 997-6000 or email us here for more information.