Buying a home can be a complicated process requiring lots of strategizing, research and level-headed thinking. There are so many decisions to be made, personal and professional, and it can be extremely overwhelming. If you don’t have the proper guidance throughout the process, mistakes can very easily be made. I don’t know about you, but when it comes to a huge investment like buying a home, we think that there isn’t much room for making mistakes. So, let’s talk about some common mistakes to avoid when buying a house.
1. Choosing not to hire a real estate agent
First of all, buying a home can be a very complicated and stressful process. Why would anyone want to go it alone, without the help of a professional? A good real estate agent is often the difference between a stressful and pleasant experience buying or selling a home. Let your agent guide you through all of those tough decisions!
2. Allowing your emotions to become too involved
Real estate agents say emotional mistakes are common among homebuyers. Why?
- They overpay for their “dream home” because they let feelings cloud their judgement
- They are always looking for a better deal
- They fall in love at first site and stop looking
These are all examples of mistakes that are made when you allow your emotions to take over. It is important to find a balance between emotional and logical intelligence – and you better believe that your real estate agent will keep you in check!
3. Forgetting about the hidden costs
When it comes to determining your budget for buying a home, all too often people underestimate what they can afford to pay each month. They factor in the purchase price of the home but forgot to consider cost of taxes, insurance, utilities, and various fees – and the list doesn’t end there! There are plenty of other hidden costs, such as closing costs, appraisal fees, and even moving costs.
- Discuss these things with your real estate agent so that you have realistic expectations about ALL of the costs that you should consider with any given home.
4. Expecting to find ‘perfection’
We’re not saying that it isn’t possible to find your dream home. We’re saying that your dream home may not match up perfectly with that image that you have in your head – keep an open mind. If you close yourself off to even considering homes that don’t check off every item on your ‘wish list,’ you may be missing out on a dream home that you didn’t even know existed. A certain amount of flexibility is essential to finding the right home for you.
5. Not considering resale value
Even if you’re not considering moving for some time, remember that your situation can always change and you may choose to or be forced to sell. Think about how well a home could sell in this situation. Would it go quickly if you had to put it back on the market? Additionally, think about purchasing a house that will be worth more in the future, perhaps in an area of growth or a new development neighborhood.
Do you know what the secret ingredient is to avoiding these common mistakes? A good real estate agent! The right agent will take away the unnecessary stress of making all the right decisions, allowing you to focus on the most important task at hand – finding the perfect home for you!
Are you considering buying a home in South Walton? Melissa Clements is a seasoned real estate agent with experience buying and selling homes in and around South Walton and 30A. Contact her today and begin your journey to finding your dream home!