Buying a new home: Don’t let simple buyers mistakes take cash out of your pocket
Shopping for a new home is an emotional experience. It’s also time consuming and comes with a myriad of details. Some buyers, however, caught up in the excitement of buying a new home tend to overlook some items. Their home purchase turns into an expensive process. These errors generally fall into these categories:
Mistake # 1 Not doing your homework.
There is a wealth of knowlegde on market conditions, neighborhood, school systems and more. Don’t buy a home without first doing some research. With all the information available on the internet, there is no reason to jump into a bad transaction.
Mistake # 2 Trying to make a shrewd investment.
You should always buy a family home that meets your family’s needs, not on what might happen to the market. You may get stuck living in something or somewhere you don’t like.
Mistake # 3 Choosing a poor location.
Even in the best neighborhood there still may be “bad” properties. For example: is there a pool in the yard and you have small children or is in on a very busy street or it may be close to railroad tracks. Learn all you can about the property and the neighborhood before making a decision.
Mistake # 4 Choosing an inferior floor plan for a beautiful exterior.
You may love the look of the exterior of the home, but how much time are you really gonna spend in the yard. Choose comfort over beauty every time and you’ll have a happy home.
Mistake # 5 Overlooking how the house will function for your family.
If you would happier with an eat-in kitchen and second living room, why settle for a formal dining room. Make sure the home you’re buying fits one family – yours.
Mistake # 6 Not having the home properly inspected in a resale.
You should always get a home inspection, you never know what may be wrong with a home and what the elaments can do to a home. You want to find out things are wrong before you buy a home not after.
Mistake # 7 Not getting what you want because you’re impatient.
Keep looking for the perfect home until you find, don’t settle, the home that’s perfect for you can just around the corner. This isn’t like picking out fruit, you will be living in this home for years to come, make sure you are satisfied with your purchase before you buy.
Mistake # 8 Not checking out the builders reputation on new homes.
Talk to several people who also own homes from the same builder, if the whole community is by one builder talk to the neighbors and see what they think about their home and neighborhood. This will give you a chance to meet your neighbors also.
Mistake # 9 Waiting for a better market and intrest rates.
No one knows what’s gonna happen down the road. If the market has improved recently or the intrest rates have dropped, figure things can’t get better, we can only tell what’s gonna happen by what has happened.
Mistake # 10 Not buying at all.
If you’re in a position to buy, I say buy, you don’t want to lose that house because you waited. Also there tax deductions, equity and appreciation to consider.