6 Spooky Homebuying Scenarios

There’s a certain intimidation that can come with buying a home. It’s hard not to fear the possible obstacles lurking around the corner, much like spine-chilling apparitions or hair-raising ghouls. Buying a home can be a frightening nightmare for some. A lot can go wrong if you’re not prepared.

But don’t run away just yet. Learn about strategies to avoid some of the most common spooky homebuying scenarios.

Getting Ghosted

During the homebuying process, you typically work with a variety of people: your lender, your lender’s operations team, your real estate agent, the seller, the seller’s real estate agent, an appraiser, a home inspector, an attorney and possibly more. It can be hard to stay organized and keep in constant communication with so many people. But what’s even harder is if they don’t communicate at all.

One potential way to avoid this is to work with reputable professionals. You may want to ask friends and family who they’ve worked with in the past. And since they have that rapport, it may be less likely that they’d disappear unexpectedly, leaving you feeling ghosted. You can also ask your lender or real estate agent for their credible recommendations as well, since they’re more likely to know these professionals and already have a relationship with them.

Seeing Frighteningly Unfitting Homes

Touring different properties can take a toll on you. Consistently seeing houses, apartments and condos you find fault in can be an even bigger pain. It’s important to clearly communicate your necessities, nice-to-haves and dealbreakers in a home with your real estate agent. They should then be able to weed out the “absolutely nots” from their list and only show you homes with true potential.

Additionally, you may want to be flexible with your must-have list, especially in markets with low housing inventory. You may not be able to find a ready-to-buy and ready-to-move-in home, so it may benefit you to overlook something you could fix later on, like outdated cabinets or an unfinished basement.

Being Buried by Debt

One mistake that many homebuyers make is spending too much money on a home. This could be due to poor planning or receiving unfavorable loan terms. Nonetheless, taking out a mortgage you can’t afford could be detrimental to your finances as a whole. That’s why it’s imperative you consider getting a pre-approval before you even look at homes. This will help you understand how much home you can realistically afford and help you budget for other monthly necessities to ensure you can live everyday life comfortably.

Succumbing to the Spell of Hidden Costs

Buying a home comes with more than just a mortgage payment. Make sure you speak with your lender to get the full scope of your homebuying costs. These can include items like commission fees, an origination fee and third-party costs. Don’t forget about possible moving fees in addition to home maintenance fees, taxes and insurance.

 Skipping the Home Exorcism (Inspection)

It may seem easy to look at faults in a home, say, “I can fix that” and end up skipping the home inspection. But this can be a huge risk. What may seem like a one-hour project can quickly turn into months of work. That’s why it’s smart not to skip a home inspection during the homebuying process. Even if you don’t immediately see anything wrong with a home, a professional inspector will typically make sure to thoroughly go through the cracks and crevices of the house to find anything wrong.

Moving into a Haunted Neighborhood

There’s more to buying a home than just looking at the property. Of course, it’s important to find a home you love that has many of the features you consider necessary. However, you’ll also want to ensure you do your research on the neighborhood the home is in and understand what you want in a neighborhood. Otherwise, you may be moving into the neighborhood of your nightmares.

If you have children, you may want to consider reputable school districts. And if you want amenities that are easily walkable or are a short drive away, you may be better suited to buying a home in a city. On the other hand, if you don’t mind a drive and prefer the quiet to the hustle and bustle of an urban neighborhood, you might want to consider a home in the suburbs.

Leave Your Worries in the Graveyard

Yes, homebuying can get a little spooky, but there’s ways to see in the dark. Thoroughly preparing yourself for possible roadblocks is one step in helping ensure you defeat those homebuying omens. Additionally, you may want to enlist a trustworthy home lending partner or real estate agent to help you through the process.