Avoid these HOME Buying Mistakes!
Category Buying & Selling Tips
It’s a big decision, but it doesn’t need to be a bad one!
Avoid buyer’s remorse this new year with our top five mistakes that buyers tend to make, and how to avoid them.
Choosing a bad location...
Ideally you want to buy the best house you can afford in the best neighbourhood, but even if you succeed a poor location could be a problem. For example, is the price right because it borders a main road, or is near a pylon? While you may think you’re getting a lot more house in a less sought-after location, the value won’t increase as quickly as those in a better local.
Remember - “Location, location, location”!
Buying a poor floor plan because of a pretty exterior...
Don’t be suckered by good looks! If the inside of the house is impractical you won’t enjoy living in it, and you are more likely to be spending money on your new house to alter it.
Getting impatient and buying second best...
What lifestyle is your family accustomed to? If you never use a formal dining room and separate sitting room, then maybe you would be happier in a house with a cosy eat-in kitchen and open plan living room area. Are stairs really practical for granny? And do you really need the pool? Decide what would best suit your family’s needs, instead of getting impatient and taking a “second best” option. Take your time and make sure you don’t regret a hasty decision in the future.
Not having a thorough inspection done...
No one wants to spend the first summer in a new house only to discover it leaks like a sieve! Avoid ugly surprises and get an inspection from a qualified, respected professional before you sign so you know what you are in for. It doesn’t necessarily mean that you won’t buy it, but if you discover it needs extensive waterproofing then you can factor that into the price and be prepared mentally to tackle it, for example.
Waiting for a better market and interest rates... and not buying at all
We get it, it’s scary. There will always be a reason NOT to do it, and the possibility of the market improving at some point might encourage you to delay a big decision. But the pros of owning property far outweigh the cons, so stop procrastinating and get a foot on the property ladder so that you can start building home equity and reap the benefits when the property’s value increases.
Check out a few of our properties and ask us for expert advice.
Author: Georgina Roberts
