10 Home Buying Mistakes and How to Avoid Them
Monday, February 26, 2018
Current trends show that buyer demand for homes is high and rising. If you’re in the market, here are 10 common mistakes buyers make and how to avoid them:
- Not doing proper research and preparation – understanding your financial situation and knowing the neighborhood are two huge factors to take into consideration.
- Have your loan preapproved before searching! This gives you a competitive advantage over other buyers in the same market.
- Don’t be influenced by the market over your own needs – have a professional agent in your corner to sort out confusing messages you might find in the media.
- Going beyond your budget – take the time to find the perfect home, and make sure it’s one that matches your financial capabilities.
- Falling in love isn’t a huge mistake – but letting the sellers’ agent know you’re in love could turn into one, especially when it comes down to the negotiation process.
- It’s not all about price – price is what you pay, value is what you get!
- Not having the right protection clauses in the contract of sale – another reason to have a professional, experienced agent on your side!
- Underestimating the full costs of buying a home, such as acquisition costs and ongoing costs of owning a property.
- Not organizing a professional inspection – Inspectors are trained to find faults, if the list is long, don’t be worried! Just focus on the major issues.
- Going solo – buying a home is one of the biggest purchases you’ll ever make – don’t do it alone! Having a professional agent on your side will give you peace of mind and make the whole process easier to understand.