We work with new home buyers, realtors and mortgage companies/brokers every day. So we wanted to share a list of the top 5 mistakes we see when folks are buying a home.

#1 Not getting an inspection.

You found your dream home and it is perfect so you decide to save money by not getting an inspection. This is extraordinarily risky because even with a new home, there can be problems. An inspector will be able to identify problems that you would not even know existed! That way you will be able to work with the seller to either fix the problems or provide a financial discount. before the closing, and you can then ask the seller to fix these problems. Once you have closed on the home there is no going back!

#2 Forgetting about home insurance.

Your lender advises that they need proof of insurance on your home one week before you close. You then have to scramble to get coverage which often results in going with the first quote you can get. This often results in inadequate coverage and missed savings! Work with a licensed independent agent early so they can also look at your auto insurance too. Bundling your auto and home insurance with one company can save you hundreds of dollars.

#3 Not using a real estate professional.

A good real estate agent works on your behalf. They know the area and can help you negotiate an offer, help you with counter offers and make sure you do not overpay! They also help you re-negotiate after an inspection to either make sure items get fixed!

#4 Not shopping your mortgage rate.

You have been with your bank for a long time so you go to them for your mortgage. This could end up costing you money because different lenders offer different rates. If you go to a mortgage broker, they can easily shop your mortgage with many companies to find the best rate.

#5 Not insuring your home for replacement value.

The cost to rebuild a home is very different that how much you paid for it. A good agent will use a tool to accurately calculate how much it would cost to rebuild your home. Understand how your agent came up with the value for your home and make sure the details are accurate. Failure to do so could leave you under-insured!

Be prepared, get a quote on your new home now!  https://texasautohome.com/#quotes

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First time home buyer? Or just need a refresher? Listen to Insurance Advisor, Linda Dodson (aka My Insurance Mom), explain the basics to you! Click on the image to get started!

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