Captain Obvious, here! I’m here to tell you that buying a home is a momentous decision that you can’t afford to mess up!
A lot of people who are currently thinking about looking for a home may never have thought they’d actually be doing this. With the market being as it is these days, many don’t expect that they’ll become homeowners. But maybe things turned out better for you than you thought they would. Now you can realistically start looking for a home.
But making a mistake in this area will definitely add some bitterness to the decision you’re going to make. You’ve reached a position that many people, especially in the younger generations, are probably never going to reach. Make sure you’re not making the following mistakes!
Taking too long to make a decision
Don’t drag your feet about things. Yes, it’s important that you think carefully about all of your decisions. But what if you’ve found a property that you’re really sure about and that you can afford? It’s best not to linger. Make your decision before someone else snatches the property from under your feet. That’s a heartbreaking scenario!
Looking at the most expensive homes first
Speaking of heartbreaking, you know what else smashes the human heart into smithereens? Falling in love with something you can’t have. Usually we’re talking about other people and not homes, but still, it’s relevant here. If you start looking at the high end of your price range, or even slightly outside of it, then you’re putting yourself at risk of falling in love with a home you can’t afford. When you fall in love with a particular property, it’s tough to tear yourself away from it. Start at the lower end.
Not considering building a home
Is this the most common mistake people make when looking for homes? Arguably. It’s certainly not right for everyone, and I think that most people who do actually consider it probably won’t go through with it. But actually exploring the option in the first place is what’s important, because it can be more realistic than you might expect. Companies like Dennis Family Homes actually specialize in fulfilling such a wish, so do give it some thought.
Allowing yourself to get desperate
So you’ve not found the perfect home and you feel that time is somehow running out. You’re getting outbid on the ones you wanted and now you’re left with a couple of unattractive options. But hey, you started this pursuit with the aim of buying a house, right? And buy a house you will! Be careful not to fall into this mindset. If you’re not in love with a property, then don’t buy it. Give it a few more weeks, or even months. Then look again.
Spending too much
Bidding wars are pretty intense things, right? Surely we’ve all been in a bidding battle on eBay. And many of us probably ended up offering quite a bit more than we originally intended to spend as a way of completely shutting down the competition. The problem with bidding wars is that the end price is often quite inflated - don’t let this happen.