First, a word about these Things to Avoid when you’re in the process of buying a St. Cloud house: it’s a short list.
The reason it’s so short is because of who you are—since you’re reading this, it means you’re someone who is taking the time to delve into what’s happening with St. Cloud real estate. That makes it unlikely that you will fall into any of the common-sense pitfalls that populate typical Top 10 Pitfalls lists. Most of them are pretty obvious to anyone who pays attention.
Less obvious are these three. These touch on areas which can be overlooked when time is short, or emotions are high—or the St. Cloud house is just so darned attractive you can’t wait to pull the trigger:
1. Perfect house: no need to inspect! So sooooo wrong: the cost of an inspection in both time and money will always be some of the best investment results you can ever realize. It might seem as if you’re betting against your perfect deal by investing in an expert’s search for imperfections, but the opposite is true. A perfect house deserves a good inspection. Even if flaws are found that you are willing to accept because the rest of the deal is so attractive, knowing about your future property’s weak points will let you decide if and when to correct them—probably at less expense than if you are blindsided later on.
2. Lack of spadework. Buying a house is such a far-reaching commitment, it’s unlikely to reward spur-of-the-moment decision making. Some otherwise quite intelligent and cautious consumers can become suddenly overcome by the impulse to stop paying rent to someone else!—and wind up buying a house that, while it does solve the rent-paying problem, does so less satisfactorily than need be. Especially for first-time homebuyers, taking the time to lay out a hard-headed budget in conjunction with minimum house requirements can make a huge difference in the coming years. The idea that you should take a year to plan any house-buying move is impractical in some cases—but it’s not a bad goal.
3. Not comparing mortgage terms. Low interest rates are certainly appealing (and today’s St. Cloud home loan rates are close to the 3.2055% decade low). But before signing on the dotted line, don’t let the array of numbers and decimal-dotted percentages get in the way of making the best decision. No matter what the interest rate is, it’s usually the APR—the annual percentage rate that integrates the closing costs and other fees— that proves most useful for making comparisons between offers.
Avoiding these three is easy once you’re aware of them. There is also a way to red flag other possible missteps when you are buying a house: enlist the help of an experienced St. Cloud buyer’s agent. When you give me the call, you can rest assured I’ll be watching out for your interests—every step of the way!