Common Mistakes For Home-Buyers
Inexperience and emotion can short circuit your buying process
When buying a home, it is easy to make mistakes due to inexperience or when emotions are running high. Here are 3 common mistakes to avoid:
1. Ignoring Major Flaws
In the midst of what can sometimes be a long process, it can be tempting to overlook major issues with a home. You may fall in love with a home (love is blind!) or you may just start to lose hope that there is nothing better out there. Major concerns can be costly and you may find it harder to come with the money to fix them right after an expensive home-buying process. Don't let circumstances or stunning features blind you to flaws that could come back to haunt you.
2. Thinking DIY is the Solution for Everything
When you walk through a home you are considering, you might think it is easy to remove a wall or redo some plumbing. However, unless you are a professional,these jobs can quickly spiral beyond your financial means and expertise. Even if you are a pro, it can be challenging to come up with the time or desire to finish jobs in your off work hours. Half-finished projects can be really frustrating, especially when it's in a space you are living in.
3. Offering Too Much
Inexperience in bidding and buying can lead to an inflated offer when it comes time to buy. You may become involved in a bidding war or make a high offer to avoid one. This won't help you if you pay above market value and you're trying to sell in the future. If the market is the same or lower, you could end up owing more money than you receive in the sale.
These concerns illustrate why a trustworthy Realtor can be so invaluable in the home buying process. Their experience and objectivity can keep you from making mistakes you might regret.