Jennet Kresge

At Home In Santa Cruz

Jennet Kresge

At Home In Santa Cruz

Team Strock, eXp Realty of California, Inc.


The 6 Biggest Mistakes to Avoid When Buying A Home

It’s both exciting and a little scary to buy a home. That feeling of nervousness and not knowing what to expect is normal! 

That’s why it’s important to have a strategy from start to finish if you want to find the right home for you.

And part of that strategy is to steer clear of some common mistakes buyers can make. Here are 6 mistakes you now know you must avoid!

Mistake #1

Not knowing how much you can afford. Think monthly payments first and foremost, not just the purchase price. Next, get pre-approved by a lender BEFORE you start looking at homes. They may approve you for more than you are comfortable spending per month, so ask them to approve you for the monthly payments you want to spend, not the highest purchase price possible.

Make sure you understand the correlation between your purchase price, monthly payments and down payment required. This is different for every home buyer. Your friend at the office might be able to afford a much more expensive house by putting more down, for example, so make sure you know what your situation is and look for homes accordingly.  You also should consider not just the cost of the home but utilities, repairs and maintenance.

Mistake #2

Not realizing that the wrong mortgage can cost thousands of dollars of needless interest. You might qualify for an FHA mortgage, but you have HUGE monthly mortgage insurance premiums that drive up your monthly payments. Plus, there are some great loan programs available right now that can save you hundreds of dollars a month.

For example, a 5% down loan where you don’t pay any private mortgage insurance.  There are all sorts of loan options available these days and the “right” one is based on your financial situation and how long you plan to own your home.  One loan does not fit all, so do your homework and know the options and what is the right choice for you!

Mistake #3

Not discovering hidden defects before you buy a home. Never buy a home without a professional home inspection. But even before you reach that point, YOU need to know what the potential problems are in the home. From the get-go, ask questions such as: How old is the heating and air conditioning system? When was the roof last replaced?

Mistake #4

Not knowing how much your credit can affect your ability to buy a home. Lenders are tougher now and you need to have a decent credit score to get a low interest rate. About 3 – 6 months before you even think you might be ready to buy a home, meet with a lender to run your credit. You can also go to and pull your own credit for free. Do this very early on, before you start looking at homes, so you don’t have any surprises.

Most credit issues can be repaired but it can take a few months, so if you aren’t monitoring your credit on a regular basis, check it early in the process.

Mistake #5

Not knowing about all the great first-time buyer programs out there from state and local agencies. Don’t make this mistake! Many of these programs are only for first-time homebuyers and you don’t want to miss out of this opportunity. You can reap HUGE savings! There are down payment assistance grants and low interest loans. There are even programs that exclude you from having to pay property taxes if your income qualifies! I know lenders who specialize in these programs, so reach out to me and I’ll connect you!

Mistake #6

Not asking questions if you’re confused or need clarification. There are no stupid questions when you are making the biggest purchase of your life. Don’t hesitate to ask any questions! I’m here to help you along the way and can educate you on the process from start to finish. I never had a buyer who complained about over communicating!

As you can see, youve got to be one step ahead when it comes time to finding your new home in this market.  This article shows you how to do just that, so you’ll be prepared and avoid some unnecessary mistakes.

And, if you are thinking of buying a home sometime in the next year, reach out to me and let me know.  This market especially comes down to planning and prepping WELL before you want to make a move. 

Together, well make a plan that works for you and your timeline and then put into action when you say GO!  This is just one of the ways we can make buying a home in this crazy market not just doable but enjoyable.

“Success is where preparation and opportunity meet!”   

At Home In Santa Cruz Blog

Hi there!

I believe that with Information, Preparation, and Strategy, you can achieve great success. Let me show you how!

831-345-2427 (call or text)

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Hi, there!

I believe that with Information, Preparation, and Strategy, you can achieve great success. Let me show you how!

Schedule a time to talk

How I Help Buyers

How I Help Sellers

Stuff You Should Know