If you are a first-time buyer of a home, then it is inevitable that you would make some common mistakes that every first-time buyer does due to the excitement, amazement or fear, and anticipation, whatever may be the real cause. If you know the common mistakes and follow the road shown by Robbie Rothenberg, you can avoid such mistakes and safeguard your interest. It would make the investment smoother which could change your life altogether. You must be realistic while making a choice and never get tempted to spend more than you can afford at any cost.
Too much spending is a common mistake that first buyers commit as you must know that the sale price of the house is not the only cost to be considered. Once you buy a property there are other essential costs like the utility bills, any urgently required and future renovations, property taxes, and other unforeseen but necessary costs have to be taken into account, and a considerable amount has to be kept as a reserve fund to meet such demands. Therefore, you have to take a close and careful look at your financial strength, personal and family budget and you can do it yourself on an excel sheet or take help of the budget calculators online.
Alternatively, it is also not wise to spend too little either. It is also considered to be a mistake as soon you will soon outgrow and incur more expenses on moving out than you would have thought during buying. Therefore, plan and think ahead of buying whether or not you are going to start a family soon and then consider the size of the house you want to buy. Remember, your current investment would pay the returns in the long future as houses are such assets which last for years. The value of your property would increase day by day, and you may repent later on your decision and choice.
Decide carefully with mind and heart as well. It is elementary that you visit the house you want to buy a couple of times, if not more, before making the final call and you would be surprised at how your decision and opinion might change with a very visit that you make to the house. Think critically and carefully judge all the aspects of the house by going through every room on every floor, consider the location of the property as well as the neighborhood. You must consider all the aspects are taking time into consideration and imagine yourself in the same house for years to come.
Lastly, you should do extensive research on the real estate agent that you may have hired for the purpose. Find out their reliability and reputation by calling some of their recent customers and by checking their listings, license and credentials and knowledge about the place. Visit the place with them a couple of times, learn about the neighbors, visit the schools and parks and much more. Get and inspection report of the property and find the hidden costs like transfer taxes and lawyer fees. A little diligence and effort can make your home buying stress free.
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