Finding your dream home can be really tricky, especially if this is your first time house hunting. It can be really easy to make some missteps or get lost in details that won’t make much of a difference when you are finding your dream home. Because of that, you need to be aware of some common house hunting mistakes and do your best to avoid them.
Not Being Open-Minded
Even though you don’t need to look at homes that require a lot of fixing up and renovating, you should be open-minded and let your imagination run wild when it comes to looking at homes that have outdated things, layouts, or flashy decor that you don’t like. Styles are really personal, and you have to be aware that not all people like what you like and vice versa. If you keep turning down homes because they don’t look like you want them to or you’re constantly nit-picking, you are not likely to find a home to buy. Of course, you don’t and should not compromise on the things that are truly important, but you should always keep an open mind when it comes to small details that are easily changed or renovated.
Not Getting the Pre-Approval Before House Hunting
It is vital that you get a pre-approval because it is the first step when you are buying a home. Pre-approval is a document that is in a letter form that comes from the mortgage company and tells you how much money you can receive from a mortgage loan. This is really important because you need to know what’s your budget as well as proving to the sellers that you are serious about buying a home. You will need to provide a copy of the document with every offer that you put in to prove that you are fit to buy a home. If you don’t know how this all works, good mortgage bankers should be able to help you through the process.
Not Having a Clear Budget
Even though you need to have a pre-approval, that is not the only thing that you should have when you are going house hunting. You must have a clear vision of how big your budget is. Keep in mind that the pre-approval that you got only shows the maximum that it can be given in a loan. In most cases, there is no need to spend the maximum amount that you can get. You need to make your budget and stick to it no matter what. There is something called a mortgage calculator that can roughly estimate that your monthly payments will look like. Then you need to see where you feel comfortable at and figure out what your monthly budget will be.
Not Being Patient
Searching for a house in a good neighborhood and area can be frustrating and time-consuming, depending on your budget and needs. But I can assure you it deserves such a struggle. With just a little more time and patience, you can prevent many subsequent problems that cannot be solved after buying your house. So, be sure to double-check everything. Inquire about the neighborhood and surrounding areas to make sure about your home’s value and check if the value of your property will increase in the future or not.
In addition, insist on a brief visit to your neighbors before buying a house, so you don’t get trapped by cramped, noisy or negligent neighbors.
Not Having an Agent
House hunting without any help from professionals can be quite tricky and hard, especially if it is your first time. Even though it can be an added expense, it is a necessary one for sure. Your agent will help you choose your dream home and get the best deal for it. But it is important that you go with trusted companies like the SA Housing Centre or any that are near you. You have to know that having an expert next to you will make the whole journey safer and much easier.
Not Being Picky Enough
On the opposite side of being open-minded is being overly open-minded, to the point that you are wasting your time on homes that don’t meet any of your needs. It is normal and in some cases required that you make compromises while you are trying to find your dream home. But it is important that you don’t lose sight of what you feel is right for you. Every buyer has different deal breakers and deal makers, so in the end, you are the only one who needs to be pleased with the home. Let’s say you have a dog and you need a yard, don’t waste your time looking at houses that don’t have a yard. If you have 6 children you will need at least four bedrooms, therefore you don’t need to waste time looking at houses that have fewer bedrooms. Figure out in advance what are your must-haves in a dream home, so you avoid unnecessary showings.
You are Procrastinating
The most important thing that most people are not aware of is that the world of real estate is really a fast-paced world. Particularly if you are house-hunting in a place that is popular and affordable. It is so dramatic that if you wait just one day too long before making an offer, you might let an amazing dream home slip through your fingers. It might seem rushed to just jump into an investment right away without a lot of time to think about, but when you are buying a house you need to know what you want and need in advance, so when you see a home that works for you, you can put a bid on it right away.
The worst mistake that you can make when you are house-hunting is that you are limiting your options. Do what works for you and your finances. Look at houses that fit your wants and needs. There is a perfect dream home for everybody; all you need to do is know where and how to look for it. In the end, all that is important is that you and your family are happy with the decision that was made.
