A house is likely the most expensive thing you will ever buy in your life.
You’d think that this would make prospective buyers extra cautious, thorough, and prepared when scouring the local housing market. Instead, many of them end up making the same house hunting errors as those before them.
Want to know what mistakes to avoid when searching for your new home? Keep reading to find out!
1. Hunting Without a Mortgage Pre-approval
Comparing house prices and attending open houses can give you a feel for what’s out there. But you won’t know how much your budget is until you qualify for a mortgage pre-approval. To save yourself time looking at properties you can’t afford, and to show sellers you’re serious, don’t even think about making an offer until you have a mortgage pre-approval in the bag.
2. Uncertainty About What You Want
It’s important to make a wish list before you start house hunting. Comparing house prices between very different properties can slow down the process and waste everyone’s time.
By all means, read more about the various options for houses to get a sense of what’s out there. But, be sure to narrow down your priorities before you fill your weekends attending open houses.
3. Waiting Too Long to See a Home
If the local housing market is hot, make sure to see a property as soon as your real estate agent tells you about it. Waiting even half a day can make the difference between securing your dream home and missing out on a great deal.
4. Overlooking Flaws
Another rookie mistake that many house hunters make is overlooking flaws. From damp patches to broken fittings, dirty neighborhoods to strange odors, you need to be ready to take these concerns to your real estate agent as soon as you spot anything.
Unless you can all figure out a way forward, move on. Settling for a home with more flaws than you’ve budgeted for can be one of the costliest mistakes of all.
5. Expecting Perfection
As any real estate agent will tell you, unless you have an unlimited budget, perfect options for houses don’t exist. It’s rare to get everything you want in any area of life so try to focus on your priorities when comparing house prices, researching local amenities, and checking the property specs.
6. Rushing Through an Open House
If you’re not used to attending open houses they can seem more like a social event at first. But don’t be fooled by showy staging tricks and the smell of freshly baked cookies. Open houses are the ideal time to explore a property in detail. This includes opening closets, checking out the floors and windows, and searching other foundational aspects for potential red flags.
Avoid These House Hunting Errors
From stalling on your dream home to overlooking flaws, house hunting errors can be costly. And the worst part is, you might have to live with your mistake for years to come.
Luckily, with this list to guide you, you’ll be less likely to make these errors when it’s time to go shopping for your new home!
Want more informative advice like this? Be sure to check out the other blog posts for all the latest real estate news and business tips.