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12 Mar 2019

Big House Buying Blunders You Need To Avoid


Buying a new home is quite an exciting process, especially when it’s your first time. Between choosing a great area and looking through beautiful properties, it’s easy to get caught up in the fun and thrill of home-ownership. However, this task is also one that can be very confusing, so much so, in fact, that many home buyers make mistakes that cost them time and money. For a less stressful experience, here are six blunders you should avoid when buying a house

Big House Buying Blunders You Need To Avoid


Buying Rather Than Renting


As frustrating as it can be to write rent checks every month knowing you’ll receive no physical asset in return, you shouldn’t rush into purchasing a property. Owning a house is more expensive and permanent than renting. For this reason, you should consider your circumstances carefully before making a decision. If you plan to move any time soon, then buying may not be for you.

Choosing The Wrong Loan


Before you can start looking for properties, you need to know exactly what you can afford. This means getting pre-approved for a mortgage. Rather than apply for the first one you see, you should compare many different home loans and choose the best one for you. Make sure that your financial situation stays the same or your loan application could be denied when it counts. 

Going Beyond Your Budget


When you know what your budget is, you need to stick to it. Don’t even look at more expensive properties or you could find yourself falling in love with a home that you just can’t afford. Buying a house like this could derail your future finances and harm your credit score. It’s human nature to want more and more, but you can’t let yourself get tempted by unrealistic properties. 

Not Researching The Location



The location of a property is just as important as the house itself. After all, you’re not going to spend the rest of your life trapped within the four walls of your new home. Because of this, you should take the time to research the neighbourhood and get to know a few of your potential new neighbours. This can give you an idea of whether or not this is somewhere you want to live.

Big House Buying Blunders You Need To Avoid

Letting Yourself Become Desperate


House hunting is a process that can go on for months or even years. In this time, you could face any number of setbacks and issues, which can cause major frustration and eventually desperation. This may drive you to buy a house that you don’t really want, just to get the process over with. Instead of doing this, you should give yourself a short break to recharge. 

Hunting Without An Agent


With online listings so easily accessible these days, it’s no wonder that many home buyers pass up the help of a professional. However, a real estate agent can offer a lot of help and support, saving you unnecessary stress, as well as time and money. This help is usually also free, as sellers pay their fees, so there’s no real reason not to have an agent by your side. 

As exciting as it can be, buying a house can be a complicated process. To avoid making it any harder, steer clear of the mistakes listed above. 


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6 comments

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