3 Biggest First-Time Home Buying Pitfalls and How You Can Avoid Them
Losing the chance to buy a great home because you hesitated. If you find the great home right off the bat, ask to see it again, then if you still love it, buy it! You won’t risk losing a home to another buyer if you move fast. One realtor relates a home-buying experience with shopping for a great pair of shoes. You often find the perfect pair in the first store you visit. But most of us are reluctant to make a purchase of the first pair we see, because we’re always looking for the elusive “better” shoe. After exhausting every shoe store in town, we realize that the perfect shoe was in the first store we went to. So we go back to buy that pair of shoes, hoping they are still there when we return. The moral of the story is, don’t risk losing the perfect home for you, because you were searching for something better.
Buying a home after you notice that “deal-breaker” flaw. Chances are, when you’re serious about purchasing your first home, you could see 5 or 10 listings, or more, in one day. Eat a good breakfast that’s full of complex cards and snack lightly throughout the day — you’ll need to feel energetic and alert. And don’t rely on memory. Bring a few supplies with you to ensure you catch every detail of the homes you see, such as a notebook for writing down information about each property. Note each home’s unique features, any repair or remodeling details you notice, as well as your general impression as you walk through each room. It’s also a good idea to bring a digital camera to document the exterior and interior. Snap a picture of each house number as you begin your tour so you’ll know which pictures go with which property. Don’t forget to evaluate the neighborhood of each home. Is the location noisy or is there a lot of traffic? What about potential neighbors? Do surrounding homes look cared for or run down? How far away are grocery stores, schools, hospitals, and fire and police stations? Is there a park nearby? At the end of the tour, rate each property on a scale from 1 to 10. The more you document details with pictures and notes, the less likely you’ll find yourself living in a home you regret buying.