Common Home Buying Mistakes
If you’re planning to buy your very own house and lot for the first time, the process can indeed be intimidating. There’s just so much to handle and to consider. Having too much on your plate can make you commit to decisions that you might later regret. Here are some of the most common home buying mistakes first time owners make that (thanks to this article) you won't.
Solely Focusing On The House
Yes, your house of choice is important. While focusing on every detail of the house you are considering is important, you should also think about how important the surroundings are as well. As a buyer (and future home owner), you’re not just paying for the house, but for the environment and surroundings of the house. If you’re relocating to a completely new area, it would be wise if you check the internet and local news for possible crime rate, school system, amenities, and the accessibility of public transportation.
Forgetting What You Actually Need
While the task of buying a new house can be overwhelming and exciting at the same time, it’s not uncommon for home buyers to forget about the things that they really need. It’s normal to fuss about the appliances you plan to get, and think about the home layout for the family. Home buyers can sometimes forget about the actual size that that is important.
Try to make a list of the things that you and your family really need. While it’s nice to own a house with fancy appliances and a very spacious lot (for future party planning purposes), sometimes having five guest rooms can be a bit too much. The chance of all your relatives and friends coming in at the same time is quite unlikely. Perhaps having just one will do. You might be surprised to know that some people feel unhappy when buying bigger houses because half of the space ends up being empty.
Being Close-Minded About Your Options
Browsing ads for available houses can be exciting. With all the ads available on the internet, most would probably assume that as the buyer, they have all the choices and the liberty to judge every house available. While you might think that the adage “don’t judge a book by its cover” holds little to no truth, then you might be surprised that it actually holds truth in real life. The same goes with real estate.
While some ads may come off as boring because of the photos uploaded, or perhaps there’s not much information about the house (or at least the information that you are actually looking for), it’s probably best to check out the other attributes of a house before ruling it out. Perhaps the pictures just don’t give the house enough justice. You’ll be surprised later on when you realize that the one you ruled out and was later snatched from the market was the perfect house and neighborhood for you.
As a buyer, it is wise to take some time to conduct research, keep an open mind, and fully explore your options at hand.
Putting The Blame On Others When Things Go Awry
It’s easy to point fingers on someone else when things go south. For example, your newly purchased house may seem perfect, but later on you find out that there’s something wrong with water seepage. Sometimes, even with the help of a home inspector, things can be be missed.
It would be best if you, as the home buyer, ask the hard questions before making the purchase. If you can, try to have a reserve fund, always. It will help you cover the unexpected and certain home emergency issues.
While this list is not exhaustive, avoiding these common mistakes will help you in the long run and will place you in a stronger buying position.