The Biggest Mistakes Homebuyers Are Making Right Now

Dan Hamilton • July 24, 2024

The real estate market in Greenville, SC is constantly changing, keeping homebuyers guessing as they try to find homes for sale in the Upstate. In this article, we break down some of the common mistakes we see 2024 homebuyers in Greenville making and how you can avoid these mistakes as you shop for your new home! 

A couple stands in a modern, well-lit kitchen and engaged in conversation with a real estate agent holding a clipboard.

Putting Off Pre-Approval


One of the first steps in the homebuying process is to connect with a trusted lender and obtain a pre-approval to buy a home. This essentially means a lender looks at your finances and gives you a good idea of what you can borrow, helping inform your budget as you begin touring homes with your real estate agent.


A pre-approval is necessary in order to put an offer on a home. If you find the perfect home without getting your pre-approval letter, another buyer could snatch it up before your lender finishes reviewing your application!


At Hamilton & Company, we strongly encourage all our clients to obtain a pre-approval letter prior to meeting with us to tour homes. This way, you're prepared to shop within budget and, if you find the perfect home, make an offer right away!


Holding Out for Perfection


While it's important to know what you're looking for in your new home, we encourage our clients to be realistic about their wants and needs. Of course our job is to help you find a home that checks all the boxes, but compromises still may need to be made, especially in a low inventory market. Not to mention that "perfect home" may be way out of your price range! 


Don't prolong the buying process by holding out for your "dream home." Instead, identify the non-negotiables on your checklist and be willing to compromise on the others.


Buying More House Than You Can Afford


In today's market, there's no arguing that buying a home in Greenville is more expensive than it was a few years ago. Rising Greenville home prices and high interest rates both contribute to many homebuyers' difficulty to find a home in their price range. 


While it may be tempting to stretch your budget, you really don't want to overextend yourself. Just because you qualify for a certain loan amount doesn't mean that's the amount you'll be able to comfortably spend. Work with your real estate agent and your lender to determine the realistic monthly payment on a few of the homes you're touring in order to get a better picture of affordability.


Not Working with a LOCAL Real Estate Agent


Buying a home requires legal negotiation, paperwork, and many rounds of inspections and other hurdles. Working with an experienced professional is key to making this process smooth. And when you partner with a local real estate agent, you gain access to that agent's network of local inspectors, lenders, and other professionals key to the success of your home purchase. Not to mention a local agent has an unmatched knowledge of their community and can help you find the perfect neighborhood for your needs.


Buying a Home in Greenville, South Carolina


Buying a starter home in Greenville, SC, is an exciting and rewarding journey. With a lower cost of living and affordable housing, it’s an excellent place for first-time homebuyers. By working with a top real estate agent in Greenville, SC, like Dan Hamilton of Hamilton & Co, you’ll have expert guidance throughout the process. Remember, Greenville is not just affordable; it’s also one of the best places to live according to real estate experts. With the right agent on your side, you can easily avoid the common mistakes most homebuyers make in 2024. Contact Hamilton & Co. today and start your home-buying adventure with a top real estate agent in Greenville, SC!

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If you’ve been thinking about buying a home in Greenville but feel like rising costs are holding you back, you’re not alone. From gas and groceries to everyday essentials, prices have gone up across the board – and the housing market is no exception. Here in Greenville, SC, real estate has remained strong, with demand keeping home prices competitive. But even with affordability concerns, there are still smart ways to get into a home and start building wealth through homeownership. As a real estate agent with over 20 years of experience helping buyers navigate the Greenville South Carolina market, I’ve seen firsthand how creative strategies and local knowledge can turn homeownership from a distant goal into a reality. Here’s how you can do the same. Your First Home is a Stepping Stone One of the biggest misconceptions I see among first-time buyers is the belief that their first home needs to be their dream home, when in reality, it’s just the first step in your real estate journey. The key is getting into the market. Once you own a home, you begin to build equity – the difference between what you owe on the mortgage and what your home is worth. Over time, as Greenville’s market continues to grow, that equity increases. Later, when you’re ready for a larger space or a different location, that built-up equity can help you move up the ladder. Rather than waiting until you can afford your perfect home in the exact neighborhood you have in mind, consider starting with something that works for right now. Getting into a home today positions you for more opportunities down the road. Pro Tip: Not sure what you can afford? Talking to a lender is the first step! I have a few recommendations for local lenders I trust in Greenville, SC. Contact them here or reach out to me for a personal introduction . Expanding Your Search Can Open Up More Opportunities If the price point in your ideal neighborhood feels out of reach, it might be time to broaden your search. Here in the Upstate, I’ve helped many buyers find homes in hidden gem communities just outside Greenville that offer incredible value. Places like Taylors, Simpsonville, Greer, and Fountain Inn all have unique charm and strong growth potential – and often come with a lower price tag than some of the more central areas. Even small adjustments in location can make a big difference. Moving just 10-15 minutes outside of downtown Greenville can mean finding a home that fits your budget while still keeping you close to the restaurants, shops, and amenities you love. And if you’re feeling stuck on where to look, that’s where an experienced local agent can be your biggest asset. I’ve spent two decades helping buyers navigate the Greenville South Carolina real estate market, and I know where to find the best opportunities – whether it’s a well-priced home in a developing neighborhood or an up-and-coming area that’s about to take off in value. The Bottom Line Buying a home in today’s market may feel like a challenge, but it’s absolutely possible with the right approach. By shifting your mindset, considering alternative locations, and working with an experienced agent who knows the Greenville, SC real estate landscape inside and out, you can find a home that fits your budget and sets you up for long-term financial success. Are you ready to explore your options? Let’s connect and find the right home for you in Greenville or the surrounding Upstate communities. Your first step toward homeownership starts today!
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