Spring and summer are peak homebuying seasons. Beautiful weather, summer vacation, and often higher inventory can make it the ideal time for many homebuyers to extend an offer. However, the rush of activity can sometimes lead to rushed decisions, which often result in costly mistakes. In hot markets, emotions run high and competition is fierce, so it’s easy for buyers to overlook red flags. If you plan to buy a home this season, here are the most common mistakes buyers make and ways to avoid them.
Mistake: Getting too emotionally attached
One of the biggest mistakes buyers make is falling in love with a home before fully evaluating it and its criteria. That stunning marble kitchen island or oversized backyard can cloud your judgment, causing you to ignore red flags like a bad layout or signs of deferred maintenance.
How to avoid this mistake: Approach each home with a checklist of your must-haves and deal-breakers. Then, stick to it. Tour homes with a clear head only get emotionally invested after the inspection report. Remember, charm is excellent—but functionality wins long-term.
Mistake: Skipping the pre-approval or not understanding your financials
In a competitive real estate market, showing up without pre-approval or proof of funds is like showing up to a job interview without a resume. And even with pre-approval, many buyers still overestimate what they can comfortably afford, especially when emotions run high in a bidding war.
How to avoid this mistake: Get pre-approved with a trusted lender before you begin your house hunt. Ask them to walk you through different monthly payment scenarios, including taxes, insurance, HOA costs and maintenance. Determine a realistic budget for yourself, factoring in your other expenses and avoid deviating from it.
Mistake: Waiving contingencies without a plan
You may be tempted to waive the home inspection or appraisal contingency to win a bidding war. While this may give you a competitive edge, it can lead to costly surprises and stress if hidden issues arise after you close on the house. Or, if the home doesn’t appraise, you’re left covering the difference.
How to avoid this mistake: Only waive contingencies if you fully understand the risks and have the financial cushion to absorb surprises. Consider a pre-inspection (with seller approval) before submitting an offer. If you waive the appraisal, ensure your lender agrees and that you have extra funds.
Mistake: Focusing solely on the home and not looking into the neighborhood
A stunning home in an inconvenient-for-you area can quickly become buyer’s remorse. Factors like commute times, school quality, walkability or future development projects can significantly impact your long-term satisfaction.
How to avoid this mistake: Visit the neighborhood at different times, ideally morning, afternoon, and evening. Talk to neighbors if possible. Use tools like Google Street View or apps like Nextdoor to get a feel for the community. Don’t just fall in love with the house—make sure you love its location.
Mistake: Waiting too long to make a decision
Spring and summer are fast-paced, and indecision can cost you a dream home. Some buyers hesitate too long, only to find it under contract the next day.
How to avoid this mistake: Work with an agent who can guide you on when to act fast. If a home checks your boxes and feels right, trust your research and move confidently. Having your finances in order and a checklist ready makes quick, smart decisions possible.
Buying a home in the spring/summer rush can be exciting, but it pays to stay grounded.
