Maine Homebuyers: Do Not Make These 4 Mistakes

So, you're ready to dive into Maine's housing market? Awesome! Before you start picturing yourself cozied up your new home, let's talk about a few mistakes that you'll want to avoid. Trust me, you don't want your dream home turning into a horror story.

Mistake 1: Not Starting The Approval Process Early

Ah yes, the ol’ pre-approval. Always the first step in house hunting. It’s like the steamers before the seafood feast. Sure, it involves some paperwork and adulting stuff, but not only is it worth it, it’s pretty much essential unless you plan on buying your home with cash money. Think of it as your golden ticket. It shows sellers you’re serious, plus it prevents heartbreak later on when you find out that oceanside mansion is just a tad out of your budget. You will also need to present a pre-approval letter along with your offer.

Mistake 2: Skipping the Home Inspection

As you may know (especially from recent events), Maine’s weather can be moody. From snowy winters to humid summers, houses here take a beating. That charming farmhouse might be hiding a roof that’s ready to cave in or a heating system older than your great-uncle Bob. As a realtor, I always tell my homebuyers that home inspections are always highly recommended. It’s your chance to uncover any hidden issues, negotiate repairs or a better price, and can ultimately save you thousands of dollars down the road.

Mistake 3: Splurging Before Closing

So, you’re under contract and feeling on top of the world? That’s awesome! But hold off on that new snowmobile or jet ski. Big purchases can mess with your debt-to-income ratio. Want to splurge on an L.L. Bean shopping spree prior to closing? Your mortgage lender is watching your spending and will pull the deal from right out under your feet. I’ve seen this happen.

Mistake 4: Going Agent-Free

Navigating Maine’s real estate market solo is like trying to hike Mount Katahdin without a map—possible, but risky. A good real estate agent isn’t just there to show you homes. They’re your advocate, negotiator, and paperwork guru rolled into one. It’s also always important to remember that the seller agent works for the seller of the home.