Buying
a home should be a positive, exciting experience. To keep that happy
feeling, it's particularly important for first time (and even second and
third time) buyers to watch for potential mistakes. Here are the top
four things to watch out for.
- Looking for the one perfect home: You could search endlessly and
never find a home that has everything you want. Remember things like
paint colors and carpeting can easily be changed. A home that is in less
than perfect condition could be a bargain, if you can handle repairs.
And if appliances aren't included, you can always provide your own. Keep
in the mind that the home's location is permanent and you won't be able
to increase its size without considerable effort unless there's extra
space you can finish. Think about where you're willing to make
compromises and where you're not, to make the decision process easier.
-
Being in a hurry: While it may be tempting, try to avoid
hastily making an offer on the first house that captures your fancy. Go
over your list of wants and needs (or make one) and be sure the home
you’re considering fits your criteria as closely as possible. Make
proper arrangements beforehand, including getting your credit in order
and arranging for financing. And always work with a qualified,
professional representative. A responsible, trustworthy real estate
agent who is working for you will save you time and money. We are aware
of the pitfalls that can be associated with buying or selling a home,
and can offer guidance every step of the way. Let us help you make your
experience a happy and positive one!
- Overbuying: Remember when Mom cautioned that your eyes might be
bigger than your stomach? That cautionary remark applies to many things.
Don't become house poor. If every dime goes to your house payment,
you'll have nothing left over for anything else. This can quickly become
stressful, and can lead to problems if things go wrong. Leave a little
breathing room.
- Nixing the inspection process: You may save a few hundred
dollars by going without the inspections. And you could get your cousin
or best friend to poke around in the house looking for potential
problems. But it could cost you much more down the line. Don't be penny
wise and pound foolish. Professional inspections are worth their weight
in gold. You'll get an extensive list on the condition of everything in
the house, including mechanicals, appliances and the roof. Many
inspectors also provide a list of repairs that will need to be made
sooner rather than later. This information will help you budget because
you'll know the lifespan of these items.
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