Avoid the most common pitfalls before you start looking for your dream home.
Between confusing real estate terminology or the complicated logistics of finding a property, buying a home isn’t always easy. The last thing you want to do during such a big life decision is make a mistake that can cost you big down the road. So, whether you’re a first-time buyer or you’re ready for a new investment, learn how to avoid the most common mistakes buyers make:
Being too indecisive
It’s impossible to find what you’re looking for if you don’t know what you want, and looking before you’ve thought through what you need and want in a home can result in a lot of wasted time as you try to see every house.
Instead, take some time to think about the ideal home for you and your family. What kind of spaces do you need? How much work are you willing to put in?
After all, you’re not just buying a house, you’re buying your family’s future. A skilled agent can help you narrow your focus so you can move into your dream home as fast as possible.
Not knowing what you can afford
The last thing you want to do is break your heart by falling in love with a house that you can’t afford. So decide on a budget that will work for your family. Make a list of your monthly expenses and compare this to your income to see how much you can spend on your new home each month. Next, get information about new expenses that a home will bring, such as property taxes, home insurance, or repairs that might be needed.
Remember that you don’t have to do this alone! A professional agent can give you a spreadsheet to work through what you can afford, and they can individually tailor your search to only the properties that will fit that budget.
Getting blinded by appearances
It’s easy to be dazzled by beautiful furnishings, new fixtures and stylish décor. But flashy design can distract you from bigger problems, and minor upgrades and cosmetic fixes are inexpensive tricks that sellers use to play on your emotions and get a higher price. So always look past the surface to see the property for what it really is, be- cause that will also come in handy when you find a home with old furniture or that needs a new coat of paint.
And with all their experience, your agent can tell you when making upgrades yourself will be cheaper than paying a higher price for a property where the work has already been done to suit someone else’s style.
Waiting for the ‘right’ time
Don’t let the market tell you what’s best for you and your family. The real estate market is constantly changing – sometimes it’s up, sometimes it’s down. But letting these short-term conditions effect such an important long-term decision for your family is too much of a gamble. Waiting for years for the perfect market conditions could mean money wasted on rent with no guarantee when you’ll be able to buy.
A real estate agent will be the first person to know when a home that fits your criteria hits the market and can help you act fast, so you don’t miss your dream home because someone else saw it first!
Not asking for professional advice
There is so much information available online today that it can be overwhelming to go through it all to determine what you can trust and what is just plain wrong. And while friends and family mean well, they aren’t in the same ex- act situation as you are, and they aren’t the ones who will have to live in the house. So, get their opinions, but don’t let them make the big decisions for you.
Instead, make sure that you get advice from an experienced professional at the beginning of your search for a home. Find an agent who will be a good match for your family and who will put your needs and your situation first. Do you want to find out more to make your home-buying experience go as smoothly as possible?
Get in touch! I’m happy to offer my advice – no matter where you are on the road to your dream home.
Social Media Teaser: 5 Mistakes Home Buyers Make
You learn more from a mistake then from a success – but learning from someone else’s mistake is even better!
Today on my blog I’ve picked 5 of the biggest mistakes home buyers make, so you can avoid them!
