Home buying can be intimidating, especially if you’re new to the process. But it doesn’t have to be that way! Real estate agents can help you avoid many of the most common mistakes home buyers make, making the process less overwhelming and more successful overall. Here are some of the top things real estate agents Belgrave recommend home buyers avoid doing, with advice on how to avoid them
1. Not Budgeting Enough Time
Purchasing a home is arguably one of the biggest financial decisions in your life. So, make sure you give yourself enough time to work with a real estate agent and learn as much as possible before settling on your new house. The median time most home buyers spend searching for their next property is eight weeks, but depending on your specific needs, budget and neighbourhood preferences, it could take much longer than that. To avoid making rushed or uninformed decisions about properties that might not be right for you—or even save money—spend as much time looking at places as you can manage.
2. Overlooking the Location
Location, location, location. When buying a home, there’s nothing more important than your neighbourhood—which is why it can be such a mistake to overlook that part of a property in favour of solely looking at the listing price and square footage. Real estate agents Belgrave can help clients determine which neighbourhoods are best for them based on things like commuting times and proximity to popular local attractions.
3. Making an Offer Without Inspecting
When making an offer on a home, it’s easy to fall in love with something you see—and that feeling is what can end up hurting you. If you can afford it, hire a professional home inspector before making an offer. A good inspector will have his or her own opinions about whether you should move forward with an offer; even if they don’t talk you out of it, they may save you from buying a money pit down the road. It’s always better to know more than less when purchasing real estate.
4. Underestimating Repairs Needed to Fix Up a Home
Buying a home means not only laying out cash for a down payment and closing costs but putting in hundreds—if not thousands—of hours of work to fix up your new place. The sooner you know what’s involved in making your new home livable, the more money you can set aside to cover those costs—and potentially avoid taking on more debt than you can handle. And that way, real estate agents won’t have to do as much damage control when things go wrong. After all, who knows your area better than them? They know exactly which neighbourhoods are worth buying into and which ones should be avoided at all costs. And they’ll let you know right away if something seems fishy about a particular property. It’s also important to note that real estate agents usually charge by commission rather than by hour—so there’s no pressure to hurry through your house-hunting process just because someone else is looking at properties nearby.
5. Not Doing Due Diligence
Some home buyers have a tendency to fall in love with a property and purchase it, without really knowing what they’re getting into. Before you sign anything, make sure to hire a real estate agent with experience and don’t be afraid to ask them questions. This is where Real Estate Agents Belgrave is always there to help you learn about local laws, neighbourhood concerns and schools so that you can decide if a particular property is right for you. The more thorough your research is, the less likely you are to regret your decision down the road. Also, don’t be afraid of putting off an offer until you’ve done all of your due diligence.
