Ten Reasons You Buy a Wrong House

Many people have been thinking about settling down and it’s time to buy a new home. However, buying a new house requires a game plan. It’s not as simple as going into multiple open houses and choosing the one you like. Smart house hunting requires effort, time and a good portion of your sanity. There are mistakes that cause you to choose the wrong house:

Real Estate
  1. You are not pre-approved for a mortgage: You shouldn’t consider yourself serious for house hunting, if you don’t have mortgage pre-approval. It is less likely for sellers to deal with potential buyers who come without a pre-approval. This will significantly limit your option and you may end up getting a less ideal house. With a pre-approval, you will also know how much you qualify for a mortgage. So, you won’t waste time checking out houses that you actually can’t afford.
  2. You don’t work with an agent: In a very tight market, it is important to quickly find a house that stands out. Agents are fully aware of the market condition and they will be able to notify you when good prospects come up. Unless you are well networked in the local real estate market, it is important for you to work with an agent. By working with an agent, you can avoid expensive negotiation mishaps, especially when it comes to a phase where you make an offer.
  3. You don’t know what you want: Before starting house hunting, it is important that you have a wish list. If your preferences are too general, it is possible that you will look at too many types of properties. This slows down the entire house buying process. You need to sort out your priority and make a proper decision. For research purpose, it is a good idea to consider many types of houses, but during the actual house search phase, you should already significantly narrow down your options.
  4. You wait too long to check the house: If the house is very appealing, it means that dozens of potential buyers may also think the same. Waiting for even one day to make a move could mean the difference between getting the property or not.
  5. You bring an uneducated adviser: You may ask your best friend or your mother to accompany you when checking these houses. It is a good thing to get a second opinion, but it is important that you obtain that from someone who is knowledgeable and experienced about the local real estate market. In reality, getting too many opinions isn’t always a good thing. You may end up getting a house that doesn’t match your taste and preferences
  6. You speed through open houses: If you don’t check each house carefully, you won’t be able to get a real sense of it. If you are interested in a house, you need to explore it in detail. You need to look beyond the fancy curtain and expensive rug. You should also inspect the foundation and floor to ensure that they are up to par.
  7. You are easily distracted by sparkly elements: Many houses look great at first glance, but you need to look a bit closer. After checking it more closely, those unexpected details may leave a lot to be desired. A flipped house is often a good buy, because everything looks new. However, it’s only a good buy if the renovation project is performed properly. You should look for indications of rush jobs, such as paint splatters on windows, outlets and light switches. Other problems that are more expensive to fix may include gaps between the walls and flooring. You should also make sure that the current house owner uses materials and brands known for their good quality. Faucets, appliances and fixtures may look great, but often it’s because they are new and not because they have good quality. You should make sure that everything inside the house will be able to stand the test of time.
  8. You always expect perfection: Expecting only perfection may actually cause you to buy a wrong house. It’s a good thing to have a perfect house, but it’s not that simple. Getting a lovely house in a great neighbourhood and not too far away from the city center would cost you a lot of money. The amount of mortgage will skyrocket and this will put you into a long-term financial problem. You should understand your own situation and focus on the most important things.
  9. Decor is your first priority: It’s not a good thing to fall in love only with the decor. Many houses are so well decorated that people get dazzled the moment they walk through the front door. However, it is not a good sign if it’s only the decor that wins you over. You should look beyond the decoration and know that actual house itself.
  10. You ignore the neighbourhood: When you check the house, make sure that you check neighbourhood as well. Drive through the area at night and it’s a bad sign if you regularly see a police car patrolling the area. There should be some common red flags that you can spot immediately. Also, check nearby stores, parks and restaurants, if they are important for you. It would be a good thing if you have good access to public transportation and freeways.
As we know, buying a house ain't easy. Most of us buy a house using
For those own a house and buy using housing loan must heard about mortgage. But

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.