House-Hunting 101: Common House-Hunting Mistakes

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“House hunting is easy. It is the catching it part that is difficult.” –Susan Gale

Buying a home can be an exciting prospect to look forward in your life.

However, it is also true that buying a home can be a very emotional process. However, you should avoid letting these emotions get to the best of you lest you are left with disappointment with your purchase. Indeed, home buying is not an easy endeavor and more often than not, the process is fraught with potential mistakes you might commit—mistakes you should be looking to avoid. No doubt, real estate property will be one of the most significant investments you will ever make, so in this regard, you need to be a little meticulous and discriminating in your house selection.

More importantly, buying a home has many far-reaching implications that range from the location of your property to how you are going to afford the property and still be able to make ends meet. Considering all these, it is inevitable to go through a series of emotions that if left uncheck, can cause us to make irrational decisions. To ensure that this does not happen and to prevent any kind of purchasing regrets, keep these tips in mind regardless of whether you are buying property in One Roxas Triangle or elsewhere:

 

Falling in love with a house you cannot afford

To be sure that you do not fall in love with a house that you cannot afford, it is best that you only check out properties that are within your price range. In this regard, it is pivotal to come up with a realistic budget of what you can afford before you even begin your hunt. Take note: Once you have fallen in love with a particular home, it can be hard to surface from that. And if you tried, it can potentially hurt. You start envisioning what your life would be like in your prospective new home and before you know it, you might start making offers you cannot realistically afford. If your offer has some teeth to it, you could be looking at years upon years of debt and even if you did not make an offer, you would only be breaking your heart at the thought of never owning the property. With this in mind, check properties that are within your price range and never go beyond. Doing so will only invite heartbreak.

Assuming there is nothing better out there

A novice—rookie even—mistake most first-time homebuyers commit is to assume that there is no property better than the one they have found if it so happens that the property in question ticks all of the boxes in their checklist. However, this is a major oversight as you are doing yourself a major disservice by not checking out the other houses in the area which—more often than not—are nearly identical to the one you have found. More importantly, these properties might be at a better price point than the one you have. Regardless of how long your must-have list is, there is always a chance that there are several homes out there that would meet your needs. If there are any snags to the property you like, it is best if you have an alternative option. Be open to keep on looking as this will save you from making any hasty decision which you might regret later.

Being desperate

When you have been looking for a while and getting outbid on the houses that you want or worse, not seeing any properties that you do like, it is understandable to have that pressing need to get that new property now. Unfortunately, there is a very likely chance that you would end up buying a house that you would inevitably hate. If you try to live with it by fashioning it after the dream home you do have in mind, remember that this can cause you exorbitantly—costs that you could have avoided had you not made the rash decision to secure a real estate property right away. If time is on your side, relax—wait until something you like comes a long. So long as your needs and demands are within your budget and realistic as well, you are sure to find property that you can live with.

Overlooking significant flaws

Once you have found a property that checks most of the items in your checklist and meets most of your demands and needs, it can be rather easy to compromise on the things you do not want—such as faulty utilities and fixtures. However, while minor flaws can be easy to repair, remember that this not always the case. Some properties have major problems that would be difficult, expensive or even impossible to repair. Before making an offer or an expensive commitment, consider your options and wait until a better property or offer comes along. If you are insistent on securing the property, at least try to haggle the asking price and make sure that it is reasonable and commensurate to the overall condition of the prospective property you are looking to buy.

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