Mistake #3 Changing jobs before you close on a home. Unless it can’t be avoided, the experts say it’s best not to change your employment picture until after closing. A worse move yet, is to change from a salaried position to self-employment. Lending institutions like to see steady employment and generally insist that self-employed people show two years of consistent income.

Mistake #4 Buying a home for the wrong reasons. If you’ve been looking for awhile and are frustrated or if homes are selling before you even know about them, it’s easy to fall into making Mistake #4. People need to buy a home based on what fits their family best in their price range. If you buy a home simply because you think it’s a shrewd investment and are trying to out guess what will happen in the market, you will more than likely end up being disappointed in the property and wanting to make a change as soon as possible. Another reason people will buy for the wrong reason is because the house has great curb appeal but not a very livable environment inside for you and your family. Ask yourself “how do you really want to live?” before making a decision. Do you really need a formal dining room and living room or would you really be happier in an eat-in kitchen, a great room and a den or home office? The house only needs to fit one family and that family is yours.

Mistake #5 Not having professional inspections done. This is not the area to get stingy with your dollar and cents. Professional inspectors are well worth the money that you pay them to protect your largest investment from being put into the wrong house. Typically, after you have an accepted offer, you will have a few days to conduct your own inspections. Whole house inspectors check the entire home and then furnish an extensive report about the home. They will also recommend specialist inspectors when they see an area that requires an in-depth inspection, such as a structural engineer. Termite inspectors will determine if there is any evidence of termites or damage caused by termites in and around the home. If termites or damage from them is found, the seller is required to treat for termites. Since it’s expensive to treat for termites, it is well worth the expense that the buyer pays, to find out what the situation is ahead of time. Other items that buyers have the option to have inspected during this timeframe include radon, mold, lead based paint and any other item which the buyer would like to have a professional examine closer and render an opinion.

There are instances, where the seller has done pre-inspections. This is terrific for the buyer because the seller has already paid to have these inspections done by an unbiased professional and has, quite often, already completed the repairs noted. The buyer is entitled to see this information before making an offer and this alone can result in saving the buyer hundreds of dollars or more.

Mistake #6 Going it alone syndrome. Going it alone could invite disaster. Real estate transactions involve one of the biggest financial decisions most people experience in their lifetime. Are you willing to gamble when it comes to buying your largest single asset? Without a real estate agent, you risk either paying too much or not finding as good a house as you could have, not to mention all of the legal problems and issues that could arise. Buying a home is a team effort involving you and your real estate agent. Ideally, you will want an agent that knows the market, knows how properties should be priced and that you feel comfortable with. Also, a real estate agent offers the option of buyer representation. This is an extremely valuable service for the buyer in order to be advised on what to offer and items to ask for in the initial contract.