Top 10 Homebuyer Secrets

1.  Keep your money where it is......don't make big purchases, open credit cards, or start paying off a bunch of debt 3-6 months before you are ready to purchase.  This will throw your debt to income ratio off and you may find that you may not qualify for as much as you had hoped, or not qualify at all.  Speak to your mortgage broker before making any big changes to your credit.
2.  Get pre-approved.  Not only will YOU need to know how much you can spend, so does your agent.  Not only will it help your agent narrow down your home search criteria, you will need a pre-approval letter in order to make an offer.  If you have this up front, you will not have to worry about missing out on the perfect house in a hot market because you are waiting for your letter from your mortgage broker.
3.  Don't try to time the market. It is impossible.  The best time to buy is when you can afford it, and when you find that perfect house.  In certain markets if you don't act quickly, somebody else may end up purchasing YOUR perfect home.
4. Bigger isn't always better.  You may think that buying the biggest, most updated house in the neighborhood sounds awesome, but really you need to focus on buying a home that has room for an increase in value.  The biggest, most updated home in the neighborhood is sometimes referred to as being a house at the "top of the market".  This means if you put money into updates and upgrades, you may not see an increase in value.
5.  Sleeper Costs are a thing.  These are costs that can fluctuate and increase your payment year after year.  Make sure that you are not maxing out what your are comfortable paying for your mortgage payment.  As tax values increase, utility costs rise, repairs and maintenance are needed, be sure you are prepared financially to handle these situations.  Maxing out your monthly payment up front could cause a concern if you buy a house and are not prepared for fluctuating costs.
6.  You are buying a house, not dating it.  Don't make a decision based on emotions (paint color, back yard, etc...), make a decision based on instinct (recognize you are getting a great house for a good value).  Plan to make it your own and put your personal touches after the purchase.
7.  Don't buy a house without hiring an inspector to inspect your home.  Buying a home without a home inspection can be a very costly mistake.  Make sure the home you purchase is not going to be a money pit down the road.
8.  Know the max price you are comfortable paying before your first offer.  Your agent will guide you through the process and will tell you what they believe the property is worth.  Stick to your guns and do not pay more than what your agent thinks the house will appraise for.  If the home does not appraise, you may end up having to come out of pocket for the difference.  
9.  Know your neighbors.  This is homework for you after you find a house you love.  Drive by the house after work hours or on weekends.  Make sure that the neighborhood is a good fit for you.  Is the commute going to work for you?  How far is the grocery store?  How is the traffic?  These are all things that you need to consider before making that offer.
10.  Buyer Representation is FREE.  Do not use the listing agent as your realtor.  Having your own representation will ensure that YOUR best interests are top priority, not the sellers.