Once you buy a new home the first thought that comes to your mind is that you won’t now have to worry about owning a strong shelter above your head anymore. However, that attitude creates a lot of problems and we are here to prove that.
Some reasons are hard to avoid because they either arise because of bad luck, bad advice, or even crippling markets. But overall, there are also other mistakes that homeowners often make which start from the point you plan to buy a new house for yourself.
Hence, in order to know and be aware of the mistakes that could cost your new home, here is a series of points listed down for you to read
1- Choosing The Bad Agent
First and foremost, you need to understand that since you don’t have a great idea about the real estate market and making deals with customers, agent is going to be the helper you have to rely on. Therefore, if he works well in your favor only then you would be able to enjoy a great deal.
Not all real estate agents are qualified nor they do hold a license to operate. Majority of them roam around markets to grab customers like you. There are also chances that he might be only with you to get the best commission on making the deal, despite having little to no knowledge about the area and your comfort.
Once you are ready to buy a property, it is your job to find an agent that does not only know your desired territory well but should also work in the best interest of you at every stage of the deal.
In order to find that angel, you may have to interview him with questions that matter to you the most, ask about his experience in the field and how far would he help with the legal requirements as well. As soon as you are satisfied with someone, hire him up.
2- Finishing Your Saving
If you are about to buy a new home now, then the answer to how much can you spend would most probably be as much as you can.
With this mindset, you would end up paying a heavy amount as down payment, borrow money from your relatives or even take up credit cards for repair work. But this is one big blunders that you are about to make as you should spend money to a point that you also have savings afterward.
3- Not Taking Professional Advice
Apart from the real estate agent that you have with you already, it is bad practice to not pay attention to what your relatives or professional friends, who may have dealt in the real estate business before, might be suggesting you.
More often than not, these guys are the ones who have already made mistakes in the past and listening to their advice would ensure that you can avoid the similar mistakes that could cost your new home.
4- Passing Home Inspections
This mistake relates to the part once you have bought a new home. It doesn’t matter how lovely your new home is, it still would have its own problems that you would have to deal with on a timely basis.
Yes, we are talking about regular inspections to keep your place nice and healthy. While one can easily find peeling paint and broken railings, a failing roof, corroded pipes, problematic wiring, or an elderly heating system are some things that don’t come into notice that easily.
Hence, this is where you need home inspections to be done by the most qualified, experienced and well-reputed companies - because in the end, the better the company is, the better your home would be.
5- Picking The Wrong Neighbours
Buying the best house in the wrong neighborhoods can still be the worst investment and do you know why? This is because if the crime rate is high, you don’t have anyone to trust around or due to the overall reputation of the area, the value of your house drops down, you would be making the biggest mistake of your life.