Buying a home is exciting. When you find your dream property, our emotions can take over, but it’s so important to think clearly about the situation and try not to let our hearts rule our heads. This is a big purchase you’re making so it needs to be right. So, follow our tips for 10 mistakes to avoid when buying a home and your purchase will be smooth sailing. You’ll soon be living in the home of your dreams…
Mistake 1 – Don’t choose the wrong location
It can be easy to forget about the location when you find a home that you fall in love with. That perfect house that’s such a good price and you get so much for your money can sway you into buying it, even though it’s not in your favourite area. No matter how great a house is, if you’re having to travel a long way for work, or to get the kids to school, it can soon become a bind.
Mistake 2 – Don’t take the first loan you’re offered
You’ll be keen to get moved, but do take time to shop around for a loan, some will be at a better rate than others. A little time spent now could save you a lot of money in the long term.
Mistake 3 – Don’t ditch the agent
Some people think it’s going to be easy to purchase a home without going through an agent, but an agent will have a wealth of experience with handling negotiations and dealing with the transactions involved. A house purchase is not as simple as it may seem!
Mistake 4 – Don’t pay too much
It can be hard to know what a realistic price is for the property you’re interested in. An agent can advise you on a reasonable price for the property, taking into account all aspects including the location.
Mistake 5 – Don’t overstretch yourself
Whatever you do, don’t buy a house that you can’t realistically afford, no matter how much you love it. Carefully work out all your outgoings, and remember those extras such as holidays, Christmas and meals out. Leaving yourself with little disposable income will leave you miserable, no matter how lovely your home is.
Mistake 6 – Don’t spend money on the property before it’s a done deal
Don’t start buying furniture or other expensive items for your new home until the deal has gone through and the contract is signed.
Mistake 7 – Always read the contract
Failing to read your contract can cause you any number of problems in the future, but once you’ve signed it, a lack of knowledge is no defense. Buy your property with Domenica Group and we ensure that your contract is explained to you in easy-to-understand terms before you sign it.
Mistake 8 – Not budgeting for all the costs
There are always fees with buying a home, so it’s important to ensure your budget for everything such as attorney fees, survey fees, recording fees, moving costs, etc.
Mistake 9 – Never skip the property inspection
Bypassing the property inspection can seem like an easy way to save some money, but even if a property looks in fine condition, that doesn’t mean there isn’t something fundamentally wrong with it. You could find yourself with a big problem that costs a lot to put right. Buy a property through Domenica Group and you’ll always be sure of a thorough and highly detailed property inspection to give you total peace of mind.
Mistake 10 -Don’t rush into anything
Take time to think carefully when you’re buying a home. As we’ve said before, it’s easy to get carried away with our emotions when we find that property that is ‘the one’ but do look at other properties, be realistic with your viewings and weigh up all the pros and cons.
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