Buying a home is a very emotional process, and allowing those emotions to get the best of you can cause you to make any number of mistakes.
Since buying a home has many far-reaching implications, from where you will live to how hard it will be to make ends meet, it’s important to keep your emotions in check and make the most rational decision possible.
Mistake 1: Falling in love with a house you can’t afford
Once you’ve fallen in love with a particular home, it’s hard to go back. You start dreaming about how great your life would be if you had all the wonderful things it offered – the lovely, tree-lined streets, the jetted bathtub, the spacious kitchen with professional-grade appliances. However, if you can’t or won’t be able to afford that house, you’re just hurting yourself. To avoid the temptation to get in over your head financially, or the disappointment of feeling like you’re settling for less than you deserve, it’s best to only look at homes in your price range.
Further, start your search at the low end of your price range – if what you find there satisfies you, there’s no need to go higher.