If you’re a homebuyer in St. George Utah, or anywhere else in the country for that matter, trying to take advantage of the Federal Housing Tax Credit, you don’t have a lot of time left to make your deal-you must sign a binding contract by the end of April. Most buyers look around over two months, and being careless over such an important investment can offset the advantages of the tax credit. Here are a few mistakes that first time home buyers like yourself make; learn from them when you’re getting ready to set out on your home buying journey.
– Not getting it in writing: the real estate market is a competitive business, and you never know when someone else may be waiting to outbid you. Once you’ve finally hammered out your agreement, all your hard work could be wasted if you wait to sign the contract. Only signed contracts are binding-verbal agreements are not. You don’t have time to spare if you want to finish by April, so don’t make this mistake!
– Don’t forget the home inspection: don’t leave things to chance. In a perfect world you could trust realtors to thoroughly inspect the property and report their conditions accurately, but if you assume this to be the case then you’re the real sucker. Even honest realtors aren’t paid to be property assessors; they simply don’t have the home construction experience of a home inspector. If you’re not careful you could face stiff repair costs in addition to all the fees associated with buying the home. It’s always better to know up front what additional repairs and expenses may be involved.
– Committing to the first house you see. This is easier to do than it sounds. The rush of finally owning a home can color your perspective. You may also be feeling pressure because the Federal Housing Tax Credit deadline is looming, but don’t make a decision that will effect you for the next 30 years in haste. The whole buying process is a trying process-more so if you’re rushing it. Be sure to give yourself some time to consider all of the pros and cons regarding the property.