Buying your first Chetek home is exciting, nerve-wracking and ultimately rewarding. But if you are unprepared for your Chetek home purchase, you could find yourself dealing with buyer’s remorse down the road. Here are the top home buying mistakes to avoid!
1. Not knowing your mortgage options. In a 2019 home buyer survey, about 40% of buyers admitted to taking the first mortgage offer that came along. This can mean paying more in closing costs and interest than necessary.
2. Making too small of a down payment. While you can obtain a mortgage with as little as 3% down, the smaller your down payment, the higher the mortgage insurance premiums. This means a more expensive mortgage payment overall.
3. Skipping the home inspection. When a property or local market is “hot,” there can be competition among home buyers to present the best offer. Waving contingencies, such as a home inspection, can seem like an easy way to win the seller’s favor. However, this is a risky move. Even brand-new homes are seldom free of defects.
4. Going it alone. It’s easy to browse Chetek and Barron County homes for sale online! While this is a great way to explore the market, the home search and home buying process involves myriad decisions. Having the professional guidance of local real estate experts is priceless!
Six Lakes Realty is a locally-owned family business with over 40 years of experience in Northwest Wisconsin real estate! We can help you find the ideal home and navigate a successful purchase. We can also provide you with a personal referral to local mortgage lenders, home inspectors and other home service professionals. Call us today!
Six Lakes Realty
Office: (715) 924-4806