Top Eight House-Hunting Mistakes

Potential home buyers generally succumb to eight major house-hunting mistakes. First, buyers should avoid falling in love with a house that is out of their price range; buyers should always start house-hunting at the low end of their price range, since entertaining the price of an expensive house is more than mortgage, but interest, as well. The second mistake buyers make is believing there is only one house that can suit them, which is generally untrue since a number of neighborhoods have homes that are similar, less expensive models. The third pitfall of buyers is purchasing a home just for the sake of owning a house; in this case, buyers select a home that does not suit them either because they are tired of searching or because they have been outbid. Some buyers also make the mistake of overlooking the significant flaws in the home’s structure; others believe they can fix up the homes when they actually cannot, and end up investing heavily in an entire home renovation. Prior to putting in an offer, buyers should consider all the pros and cons of the property, though remaining mindful that a great property should be bid on quickly. Finally, buyers should never offer more than a home is worth, especially because overbidding is an expensive mistake that could result in a buyer’s own inability to re-sell the house. | Read More