So the time has come to buy your next house. Homebuyers should focus on a couple of things before going house hunting. So if you’re interested in what those things are, consider this article.
In this article, we will go over the do’s and dont’s when buying your next house. So with all that said, let’s start.
Do Look At the Neighborhood
If you’re planning on starting a family, then the state of the neighborhood is very important. Ideally, you should look for properties in neighborhoods that have access to kindergartens, schools, supermarkets, and plenty of other amenities.
More so, you’ll need to put your detective hat on and investigate the community living in that neighborhood. Are they good people? Is the crime high? Are the police friendly and respond fast to 911 calls? These factors are very important, so make the outcomes of your investigation are positive.
Don’t Buy the First House You See
The ultimate homebuyer’s checklist says that you should never buy the first house you see. Instead, you should browse your options and compare them. By doing this, you are eliminating risk. By going with the first house you see, you are risking making a bad investment.
Maybe the listing down the block is cheaper, has better access to more amenities, and generally looks better than the one you just put a down payment for. Don’t make this mistake, as you’ll live to regret it.
Do Go With A Real Estate Agent
We’re ticking off yet another box from the ultimate homebuyer’s checklist, and this one says that you should always go with a real estate agent.
Studies show that 52% of buyers go with an agent to find their dream home. But a real estate agent does far more than finding you the house of your dreams. A real estate agent assists you throughout the home buying process.
They are experts that know how the industry works, know all the paperwork, and in many cases, save you money by negotiating with the seller. Going FSBO is a viable option, but homebuyers should understand that this is a much more complicated process to go through.
Don’t Trust What You Read Online
Even if your agent is actively scouting online listings, you will no doubt do the same. Buying a house can be very exciting for the whole family. Naturally, everyone wants to do as much as they can to get it over the line as quickly as possible.
That means getting involved in the scouting process. But it’s fair to say that not every Facebook listing or real estate ad is fully honest. If you do know how to read between the lines, then you might uncover key information that tells plenty more about the property.
Let’s take one very common trick real estate ads do. If an ad tells that the property is “cozy”, then that most certainly means that the property is much smaller. The ad won’t tell you how big the property is in terms of square feet, but they will tell you about how many rooms it has. A room can be anywhere from 1 square foot to 100.
So don’t jump at the idea that you’ve just found your dream home. Instead, be reserved and look at the property before getting excited.
Do Buy Based On What You Need
Most homeowners buy new houses due to a need to upsize. The reasons for that could be many, but the most common reason is starting a family. If you’re buying a house because of that, then you need to look for properties that solve your problem.
A property that has an outdoor swimming pool might be tempting to buy, but is it what you need? What if the house has only two bedrooms whereas you need three? A big mistake to avoid making is buying a house based on what you want, not what you need.
Always put the needs in front of the wants, as otherwise, you’re making a huge mistake.
Don’t Rack Up Debt
Buying a house is the single-biggest purchase you’re going to make in your life. Naturally, it will put you in debt. But that’s okay as very few people on this plant have the money to pay in cash. More so, housing loans have generally low-interest fees making them very affordable if you do get approved for one.
But do you know what’s the easiest way to make yourself less desirable with the bank? If you want to get rejected for a housing loan, then the easiest thing to do is to suddenly rack up debt. Debt is caused by lots of things. From unnecessary spending to purchasing a car, everything can impact your financial power when getting approved for a loan.
Thus, make sure to don’t rack up any unnecessary debt before going house shopping.