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What are the Things Buyers Look at When Buying a Property?

July 19, 2017

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Biggest Mistakes and Misconceptions about Buying a Home

June 7, 2016

Real estate lays no easy hands on the ones naïve to it. For the first-time home buyers, things turn

out to be contrary to how they’ve imagined them. Unexpected cost turn-outs, dealings and proper

inspection are the baseline issues. These short-comings hinder not only the first-time buyers but

the experts as well.

 

Sorry for creating this horrible image of estate dealings but someone ought to tell you the truth.

However, all these short comings and challenges can be fought easily with a proper knowledge

of this field.

 

Let’s have a look at the major mistakes most of the first-time home buyers commit:

 

Blunders made during searching for home

 

It’s not just about the financial matters involved in the home buying process, but many times

buyers make mistakes during their search for the house.

 

1. Not making multiple visits

You decide you want to buy a house, and you are ready to begin your search. You attend your

first open house and you fall in love with it. There is nothing wrong in choosing the house that

hits you at the very first site. However, make sure that you plan multiple visits to that house and

make a keen observation of all the aspects related to it. Also, make sure to visit other houses in

the area, because once you start to compare house to house, that first one that you loved so much

may not look so perfect anymore. This may make me a real estate nerd (I know already that I am

a science nerd) but I love going to open houses. In the year leading up when I bought my first

home, I think I went to at least one open house every weekend. This is a great way to determine

not just what types of homes are on the market, but really get a feel for different neighborhoods

in an area. Also, there tend to be cookies at open houses, so … free cookies!

 

2. Not making a vast search

Keep your area of search vast. Most of the buyers limit their area of search either in their

neighborhood or near their workplace. This leaves you short of option and therefore, you might

have to settle for less than the best. So, it is better that you keep an open area. Also, retaining

flexibility in your desired area can open up new possibilities, as small moves in neighborhood

can result in getting more house for your money.

 

3. Working without a Realtor

It might not be necessary to hire a realtor. You alone may deal very well. However, you should

keep in mind the fact that the seller’s agent has the interests of sellers as a priority, not yours.

Therefore, at this stage, you need a professional who will deal according to your demands and

interests.

 

A buyer’s agent can help you with making the right direction, negotiating your bid, refute an

offer, and manage the closing process. Also, you don’t have to pay for the agent in any case as

the seller pays the commission to both agents. Therefore, it is a wise decision to keep an agent

for your assistance.

 

Buying a house may seem a stressful and nerve-racking task, and undoubtedly, it is, especially

for first-time buyers. During this process, you’ll have to face many challenges and short

comings. The way you deal with these issues decides how successful it will be to get the home of

your choice. Having an expert by your side through the process can make finding your dream

home more manageable and actually quite enjoyable! A top real estate agent will focus on the

nitty-gritty to allow you to focus on the fun!

 

Financial blunders

  • Going for a risky loan program

  • Spending too much on a house

  • Overlooking the significance of home inspection

  • Not going for variable options

 

 

 

 

 

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© 2017 The Real Estate Scientist

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Fredrick Karnell, PhD

fred@therealestatescientist.com

46179 Westlake Drive, Suite #200

Sterling, VA 20165

Mobile: 240.390.5131

Office: 703.444.8587

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