House hunting, mistakes to avoid!
If you are one of those enthusiastic home buyers who think – ‘What’s so difficult about buying a new property after all?’, then the best advice would be to document yourself before you begin this journey. Purchasing a property all by yourself implies a lot of risks! So, are you willing to take your chances?
House hunting with a real estate agent!
Having a specialist in this transaction by your side gives you incredible advantages that you simply cannot have, especially as a first-time buyer. The knowledge, the tools and the connections are just the cherry on top…
So do you need a listing agent to buy you a house? You bet! Even though the internet has made it all easier, you simply cannot replace the expertise of a real estate agent! He/she will save you money, time and a lot of stress! So, the endless number of search sites and how-to guides can give you a starting point, but that’s it, because you’ll most likely come across documents or situations that you won’t be able to manage efficiently! Without an agent, purchasing a house will surely be much more difficult, while house hunting will turn into a genuine challenge.
A buyer’s agent is what you need; someone to represent you and work in your best interest! Here are the main reasons why it really pays to hire a real estate agent right away!
Going house hunting – Costly mistakes to avoid
When house hunting you have to be sure you won’t be making any of the following mistakes. You don’t want to regret your decision later on, do you?
Top 7 Mistakes to avoid:
- Planning to move again soon
Specialists agree upon the idea that if you plan to move in the following 10 years, then maybe it should be better to consider if purchasing a home right now is really the best option for you. Why? The reason is simple – think about the multitude of things you have to do to buy and then resell the property: the time, the stress level and the danger of not getting the same amount of money or more is a strong reason to worry. It might get you more headaches in the end.
- Skipping a home inspection
Never, but never buy a home without a home inspection beforehand. This may reveal critical issues that the house might have. So, if you want to get exactly what you pay for, then don’t rush trying to save money when you’re least supposed to!
- Not understanding the market trends
Getting the grip on market trends means that you can speculate, and speculating in real estate means increasing the chances to obtain the best deal out there. Research the topic before you decide to invest your finances into a property, discuss with your specialist and only afterwards make up your mind! You never know what the future has prepared for you!
- Not listening to your real estate agent
House hunting means first of all listening to your real estate agent, after all you must trust him/her. Without trust, this business relationship will never work. In real estate going hand in hand means being on the same path, while communication is vital.
- Not visiting the property multiple times
There’s nothing wrong about making an offer for the first property that you visit, but don’t fall into the trap of rushing to buy only because the homeowner is trying to hurry up things. Even though, you are convinced to purchase a particular property, visit it multiple times before you sign the closing papers; drive by to observe, for instance, the traffic, the noise, the neighborhood. You’ll probably thank yourself later on!
- Not taking into account the resale value
You never know when you’ll have to resell your property, thus you have to keep this in mind when you choose the property you want to buy. The location, the neighborhood, the construction or its features should strongly influence your decision!
- Forgetting about hidden costs
Having a plan is always the first thing you have to do, however, don’t forget about having a back-up plan too. There are few the cases when extra expenses never come up, so make sure you have what it takes to close the deal.
Purchasing a property is serious business, therefore taking all the necessary precaution measures is a must! Hire a skilled real estate agent and try to avoid the most common blunders newbie buyers make. Happy house hunting!
- Lisa Ross
Thank you Cindy and I agree: if it has a wow factor it sells! 🙂
- Reblog: House hunting, mistakes to avoid! | Uncle Sam's Real Estate Blog
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