RE/MAX Results Realtor Kevin Kalligher sees a few mistakes when people are looking to buy a home. Most stem from buyers getting ahead of themselves.

• Not getting pre-approved before starting to look: Kalligher says he’s seen properties with clients who want to make an offer, but they aren’t yet pre-approved by a lender. “Unfortunately, what happens sometimes is during that time where they’re reaching out to a lender to submit their pay stubs, to get their W-2s submitted, they actually lose the house because it sells in two or three days,” he said. Pre-approvals last for about 90 days, but Kalligher said the process is easy to repeat if a house hunt isn’t over yet.
• Holding out for perfection: This can give home buyers analysis paralysis. “I’ll be honest with you, I haven’t worked with a buyer that’s found the perfect home yet,” Kalligher said. Even folks who build a custom home may not be satisfied at the end. “If you find a home you like, even if it’s not perfect, let’s say it’s 85-90 percent of what you’re looking for and you can see yourself living in the property and it makes you happy, I’d strongly encourage giving that one a go.”
• Looking at a home that is out of your budget: Kalligher said just because a buyer is pre-approved for a certain amount doesn’t need that whole amount needs to be spent. “I’ve seen it happen where a buyer is approved for $500,000. But really, they want a monthly payment in that $250,000 price range. The last thing you want to do is max that out, and now your monthly payments are such that you can’t go out to the movies on the weekends, you can’t go out to dinner with friends because you’re stuck making that mortgage payment,” he said.