7 Of The Most Common Mistakes Homebuyers Always Make!

Not using a house agent

©The Self Employed

Here is a tip before going house hunting: never go alone! Throughout the home buying process, get the assistance of a home agent. Agents for home buyers can be such a blessing thing, especially if they are trustworthy and good.

They can take you to the fanciest properties in the estate market and make the buying process smooth. They can also play the role of a mediator by introducing you to qualified inspectors and lenders. Buying a house is a huge purchase.

That is why you need the assistance of a professional to escort you throughout the whole process. If you cannot afford an agent, you can hire the services of a real estate lawyer who can help in the preparing of the necessary paperwork before you sign anything at all.

buying based on emotions

©AmeriFirst Home Mortgage

There are times in life where emotions should be put aside. Emotions may beat reason sometimes, but reason should conquer all the time. This is an applicable rule to everything in life. Always be moderate and let your heart and mind work out things together.

Another mistake that many homebuyers commit is purchasing a house based on emotions. If you love the house you want to buy, then that is fantastic, but check your planned budget, Can you afford it?

With the new house, you love comes a lot of future costs and expenses that you cannot disclaim once you affix your signature on the dotted lines. Think twice before purchasing anything you cannot afford.

There are many things to be considered inclusive of the expenses of the pool maintaining, lawn mowing; plus homeowners association will demand full loyalty and payment of the fees annually.

So why don’t you save yourself from all this trouble and buy the house you can afford in the first place? To rationalize your decision, ask yourself the following questions:

• Am I capable of affording this house inclusive of the taxes?

• Am I capable of maintaining, heating and cooling the present house?

• Do I have the ability to pay for renovations when needed?

• Regarding the rooms and layout, is it exactly suitable for my family?

Inspection skipping

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Before making up your mind and decision, you need to inspect the house. It does not matter whether you are purchasing a newly constructed home or an ancient, historic mansion, inspection is a must. Trusting your gut is the best thing, but in such cases, you need a second opinion.

A professional person can help in revealing any safety threats, structural damage or code violations. Schedule a day or two to go on an inspection journey through the house in the company of an inspector to detect any potential problems.

The inspection process might delay the purchase, but it is worth it to know at least whether to proceed or drop the whole thing. This is much better than finding out after the finalization of the sale that the house has got something dangerously wrong.

No backup plan

©The Tennessean

Back to strategic planning, right? Many people seem to barge in things and deals they cannot complete for they either had zero plan or had no backup plan. Whenever you are about to do anything, have a clear plan in your head to be the first thing to resort to.

In case the initial plan does not work, use plan B. In case the inspection you had gone through and the detection results of the professional inspector unveiled many flaws in the house, what will you do? Do you have a plan B?

If you are attentive enough, you would avoid mistake n°4 and get an agent. The role of the agent revolves here around including a clause in your offer which states clearly that you can have any deposit back in case the inspection did not go as good as expected.

One more thing, you need to draw a backup plan in case the house does not level up to your expectations. This is also useful in case the funding you are expecting to be provided with by a loan program does not take place.

Buying a house is a decision that many among you had to take at a certain point, so tell us about how you managed to buy a new house without wasting your fortune. If there are any further tips to keep in mind before setting about such a major purchase, feel free to include it in a comment.

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