Mistakes to avoid while house hunting
House hunting is not only a tiring experience, it is an emotional one as well. Amidst all these emotions of excitement and nervous anxiety, you may fall prey to some of the many mistakes a lot of people make when house hunting.
House hunting in most instances is more than just popping into open houses and picking your best. Doing a smart search will, in fact, save you time, cash and sanity that will help you through the process. In this piece, we have come up with a list of some mistakes you need to avoid while in this process.
1. Exceeding budget plans.
While house hunting, be practical. This is a permanent decision you are making.
It is very difficult to go back once you have made your decision. In as much as a great imagination is essential in this process, you as a house hunter would only end up punishing yourself with these imaginations in the occasion where you cannot afford this particularly imagined house. Assess your financial capabilities and go for something you are financially comfortable with.
2. Ignoring location.
Neighborhoods are a key factor to consider when house hunting. While you tour an open house, it is highly advisable to take time to tour the neighborhood it sits on. The last thing you would want is a beautiful home that located in the worst neighborhood you would think of. After checking for any red flags, weigh the overall vibe of the neighborhood and make sure that it has the right for you and your family.
3. Leaving out the mortgage qualification process.
Before you embark on house hunting and making an offer on a house you love, it is important to have a pre-approved loan to necessitate your process. As a buyer, you should have the knowledge of whether you qualify for a loan or not. Having an idea of where the loan limit reaches will essentially help you know your offer limits. This guides you in determining the kind of houses to look for and what locations to consider.
4. Going into the process solo.
This especially applies to first time home buyers. The house hunting process can get tricky, hence the need for professional help. Hiring an agent is a good option. It’s in arguably an extra expense but it really does come in handy. An agent is supposed to guide you through the whole process, help you avoid any of the house hunting mistakes, and even negotiate on your behalf.
5. Looking at aesthetics and sparkly new stuff.
This applies mostly when looking at houses that are considered investor flips. During house hunting, you need to look beyond the new fixtures in the house. You are highly advised to assess how well the renovations have been done and the quality of materials and work. It is not cost effective to get stuck with the nightmares of having unexpected repairs. Inspect the house thoroughly. Go with an expert if in doubt.