Common Mistakes That Hurt Homebuyers

Property Tax Reduction Consultants

125 Jericho Turnpike, Suite 500 
Jericho, NY 11753

(516) 484-0654 or (631) 484-0654

With a new year right around the corner, you may be making big plans for what you'd like to accomplish in the months that follow - is one of those plans to buy a home? Whether it'll be your first home, your second home or maybe your third, we want to remind you how important it is to steer clear of certain mistakes if you want the experience to be as positive as possible. So, with that said, let's take a look at some of the most common that hurt homebuyers so you know what to avoid:

1. Getting emotionally attached.
Many people fall in love with the first house they see, but that doesn't mean it's the right house. By making a promise to yourself to not get too emotionally attached,  you can avoid a lot of disappointment that may occur if things don't work out.

2. Trying to do it all yourself.
It's one thing to go to open houses and search around on the web, but at the end of the day, working with a professional is always recommended! After all, they're highly trained in what they do, so they can answer any questions you have and guide you in the direction that is best for you.

3. Forgetting about closing costs.
Your down payment is not the only payment you'll make before you move into your new home - there are closing costs to prepare for too. Many times, though, homeowners forget about this detail, and thus budget for all of their money to go towards the down payment - this, however, can lead to some pretty big issues when it comes time to address closing costs!

4. Not knowing your credit score.
Your credit score plays a big role in things such as what loans you'll be eligible for, and not having any idea of what yours is can put you in a pretty sticky situation. Before you even begin to look at houses, it's a good idea to review your score so that you can gauge what type of loans you'll be approved for.

5. Failing to get pre-approved.
Even when you know what you can afford, it's always a good idea to get pre-approved before starting to look and make offers. This is important because it shows the sellers just how serious you are, and it also shows that you truly can afford what they're asking/what you're offering!

Once a deal has been made and you're all settled in to your new home, we have another mistake that we certainly don't want you to make - not filing for a tax grievance. If you think you're overpaying in property taxes, there's a good chance that you are, and filing for a tax grievance can let you know if you're eligible for any reductions and refunds! Remember, the worst you can be told is no.

For those of you living on Long Island, we would be happy to help you with the grievance process. To learn more, visit us at www.ptrc.com or give us a call at (516)/(631) 484-0654; emails can also be sent to info@ptrc.com.