It’s no secret that many home buyers may be anxious about the biggest purchase of their life. Many people will be second-guessing their choices and uncertain they are ready to commit to this life impacting decision.
Realtor.com® recently featured an article explaining buyer’s top fears, here are a few of them and how industry experts combat these fears with practicality and expertise:
“I’m afraid I can’t afford a home.”
Some buyers believe they’ll have to empty out their savings account completely in order to buy a home. “There are many loan programs out there that can help first-time home buyers with down payment assistance or that don’t require a severed arm and leg in order to get a mortgage,” says Bill Golden, RE/MAX Metro Atlanta Cityside. Encourage them to talk with a loan officer about options.
“What if I buy a money pit?”
In reality, most homes aren’t money pits, and there’s a lot buyers can do to protect themselves against buying one too. Before buying, they can use a home inspector to help soothe some of their fears about getting a lemon. The home inspector should be trained to spot signs of water damage or electrical or plumbing problems. They also will advise on any possible repair costs.
“It’s just safer to rent.”
“Rent money disappears without allowing you to build any equity over time. That’s truly scary,” says Scott Forman, divisional vice president of Cross Country Mortgage. For many renters who are willing to pay about $100 a month more, they could own a home, he says — and receive tax deductions.