Two Huge Mistakes To Avoid When Buying a Knoxville Home

Whether you are a first time home buyer or have bought a home before, there are BIG mistakes you must avoid when buying a Knoxville home.  Instead of a laundry list of issues that could be a concern, we are going to hit on what we feel are two huge mistakes Knoxville home buyers could make when buying a home.

Both of these mistakes are typically the direct result of a Knoxville home buyer trying to save themselves some money.  While we are all for saving money, these mistakes could cost you exponentially more than what you would possibly save.

1. Buying A Home Without Doing A Home Inspection

A home inspection will typically cost a few hundred dollars. Saving a few hundred bucks is good right? NOT IN THIS CASE! The money you spend on a home inspection is probably the best few hundred dollars you’ll ever spend.  Without knowing what current and potential issues your future house is subject to, you are walking into some serious potential for high dollar repairs.  The home inspection will look closely at the homes structural, roofing, plumbing, electrical, and HVAC systems.  In the home buying process, information is critical for decision making and negotiations.  The home inspection report can offer the following benefits:

• Comfort in knowing you are buying a sound investment (especially if you are buying the home AS-IS).
• Detailed data, for negotiations with the seller, in order to either fix the problems or reduce the price.
• Information to let you know when to walk away from a transaction.

2. Buying A Home Through The Listing Agent

While we know many trustworthy listing agents (HEY, WE ARE ONE OF THEM!), don’t make the mistake of going unrepresented in your transaction. A seller’s listing agent is bound by fiduciary responsibilities (mumbo jumbo for “they have to legally”) look out for the best interests of their client.  Guess what, you aren’t their client, the seller is! Buying a home is typically the largest investment you will make in your entire life.  Why would you go into such an enormous, financially important life decision, without a professional looking out for YOUR best interests. You need to be working with a Knoxville buyer’s agent.  A buyer’s agent’s job is not only to show you properties, but to assist you in negotiations and make sure you are making a sound decision.  Study’s show that a buyer’s agent, on average, saves you 5% on the purchase of your home.  That’s $12,500 on a $250,000 home.  That is way more than you would save, even if a seller’s listing agent took less of a commission for helping you facilitate your offer.  So not only do you save more money, but you get representation to boot.  That’s a no brainer!

To talk with someone about representing you in buying or selling a Knoxville home, call Troy Stavros at 865-999-0925 to schedule a time to sit down and talk about your goals and formulate a strategy for reaching them.