This is part of our series on everything to do with REAL ESTATE. Read the rest of the series HERE.
Buying a home is likely one of the biggest financial decisions you'll make in your lifetime. It can also be one of the most stressful. Between searching for the right property, securing financing, and navigating the complex legal process, it's easy to make costly mistakes that could haunt you for years to come. Here are top 5 rookie mistakes we've seen, and how to sidestep them to find that home that checks all your boxes - without breaking the bank.
Getting Overexcited Purchasing property IS exciting: real estate is so much more tangible and creative and passionate. If we find something we like, we walk in and go, "Oh, this place just feels right." going to see places with a lot of people and everyone's excited for us. So the motion builds even more, I would say it's balancing the emotion with the practicality.
Skipping Inspections If the inspector says something, don't be too quick to brush it off. When you go through your inspections, listen to the real estate agent, and really listen to the inspectors so that you're not buying a lemon. If you start opening up walls post purchase and find issues with electrical and plumbing, it can just ruin everything.
Not Negotiating We don't either negotiate the price to fix something or we ignore it, and we don't fix it. And then it becomes a problem.
Getting Caught in a Bidding War Sometimes we're so anxious in someone else's bidding. So we wind up overpaying, which again down the line, it means that each month our mortgage is higher than we than we thought
Not knowing your budget. It takes real determination, on many levels, to make an investment in the proportion of a piece of property. Start with some practicalities. Ask yourself how much you can afford, and start to really try to ground down to that number.
Be sure to subscribe to our newsletter to get more great financial wellness content.
If you have questions, or are ready to embark on your financial journey with Afirefi, reach out to us at any time at support@afirefi.com.Â
Komentarai