4 Mistakes Home Buyers Make

In the market for that dream home? Maybe you are in the market to buy your first home, which is both exciting and scary all in one. When it comes to buying a home, there are a few things potential homebuyers should consider, but more importantly, a few things that homebuyers should think about before signing on the dotted line and making the biggest investment of a lifetime. We share four common mistakes that first-time homebuyers make when entering the real estate market.

Buying in the higher end

When it comes to buying a home, the first and most important thing to consider and factor in is money. How much can one afford; how much is one willing to spend. When potential buyers begin the journey to a home, they will often find themselves considering the home and not the finances involved. Mortgage brokers are able to assist potential buyers when it comes to determining what they can afford; however, some brokers may recommend that they simply buy what they want as opposed to what’s affordable. For some, this is what they call house poor, so it’s important to determine what one is willing to pay. It’s important to not be consumed or swayed by all the high-end finishes but to also consider one’s budget.

Not consulting a professional

We live in a time and day where we now have the ability to sell and buy our own home without having to go through the traditional means of a real estate agent. While for some saving a few thousands is huge, it can prove to be risky as some homeowners may not have the experience to know whether a home is a good deal or if it there are any issues. Buying and selling a home is a process that engages with many professionals – from the realtor to the inspector and everyone in between.

Not getting an inspection

Homes, whether they are a freehold or apartment, they should always undergo some form of inspection no matter how old they may be. Even some of the newer homes require some form of an inspection to ensure that everything is to standards but more importantly there are no issues that have happened over time. Inspections are also a good way, for older homes to ensure there are no potential health hazards – mold, or dust and anything else.

Buying based on “wants” and not “needs”

A home is an investment; therefore, it is important to ensure that the home you buy is one that is based on your needs and not entirely on your wants. For example, if you are buying a home and you “want” a pool, it is important to consider the costs associated with maintenance as well.

Buying a home is an adventure; however, there can be plenty of pitfalls if not done properly. It is important to ensure that when it comes to buying a home to research and consult with specialists – whether it’s a broker or an inspector. Doing this not only protects you as a home owner (or buyer) but it will also provide one with a peace of mind knowing that they are investing in a home that will last.

Whether you’re looking to buy or sell in the Kamloops area, for a greater probability of success you need a dedicated professional. I can guide you through the process and be counted on to protect your investment!

Categorised in: Buyers, Kamloops, Real Estate

This post was written by kamloopshomesearchcom