After 22+ years and 500+ transactions, here are the mistakes that cost buyers real money — and what to do instead.
Mistake #1: Starting the Search Before Getting Pre-Approved
Get pre-approved first — it takes 1–3 days and sets your real budget.
Mistake #2: Making Big Financial Moves During the Loan Process
Don’t buy a car, open credit cards, make undocumented cash deposits, change jobs, or co-sign loans until funding.
Mistake #3: Waiving the Home Inspection to Win a Bid
A $400 inspection can reveal a $30,000 problem. Strengthen your offer other ways instead. See home inspections in Arizona.
Mistake #4: Underestimating Total Costs
Closing costs (2–5%), HOA fees ($50–$500+/month), move-in costs, 1%/year maintenance, summer utility bills ($250–$400/month).
Mistake #5: Choosing the Wrong Lender
Responsiveness and track record matter more than a 0.125% rate difference.
Mistake #6: Waiting for the Perfect Market
Buyers who waited in 2018 paid more in 2020; waited in 2020 paid 30% more in 2022. You can’t time the market.
Mistake #7: Not Using an Experienced Local Agent
Representation is typically covered by the seller’s proceeds — no financial reason to go it alone.
Mistake #8: Letting Emotion Drive Decisions
Know your walk-away number, run comps, treat inspection reports as information not obstacles.
The Short Version
Get pre-approved first. Don’t touch your finances after. Never skip the inspection. Budget for everything. Use a local lender. Stop waiting for perfect conditions. Work with an experienced agent.
See the full home buying process in Arizona.
Call Mike at (480) 201-3700 or contact me here. First call is always free.
Mike Caruso | HomeSmart Elite, Scottsdale AZ | 22+ years | 500+ homes sold
