Preparing to buy a house can cause an avalanche of intense, often conflicting, emotions. You’re overwhelmed but exhilarated, excited for what the future will bring but terrified of making a misstep.
You have a major decision ahead of you, one that will have a dramatic effect on every aspect of your life for years to come. With that in mind, it’s important to know the common errors with house shopping and how to avoid them.
Equipped with a well-organized house shopping strategy, you can minimize stress and mistakes. Read on to learn which mistakes to avoid to choose the best home for you.
1. Lowballing Your Expenses
When you’re looking at options for houses, one of the worst mistakes you can make is to lowball your expenses. Yes, your monthly mortgage makes up a large portion of your recurring fees, but it doesn’t cover everything.
Be sure to include insurance, taxes, HOA fees, utilities, repair costs, and maintenance expenses such as landscaping, HVAC service, pressure washing, etc. When in doubt, it’s always better to overestimate than under.
2. Not Researching the Community
Even if a home appears to be the perfect fit, it’s essential to research the surrounding community before going any further. For example, a home near train tracks might seem attractive when you’re comparing house prices, but when wake up to the sound of a train horn at 4 am, will you feel the same way?
Look into future developments as well. A nice, quiet neighborhood can be ruined by commercial buildings and apartment complexes springing up in the surrounding area.
3. Limiting Your Options
House hunting can feel like a race, especially when the market is hot. But if you limit yourself to only looking at a few properties, you could be missing out on your dream home!
Keep your options open, take your time, and go to as many showings as you can. In doing so, you’ll get a better idea of what you can afford, what’s on the market, and the type of home you prefer.
4. Overestimating Your DIY Skills
Buying a home in need of some TLC is a great way to save money and add a personal touch to your space.
However, it’s crucial that you don’t overestimate your capabilities. Biting off more than you can chew can leave you with a long list of unexpected expenses or a house nowhere near livable condition.
A move-in ready home from a listing site such as https://www.thelucasgroup.ca/vancouver-real-estate/ might have a slightly higher price tag but comes without the hassle of repairs and renovations.
5. Confusing Wants With Needs
Let’s say you’re looking into houses for families and a pool is at the top of your priority list. You could find a fantastic house with a pool in your budget, but if you don’t, remember that a pool is a need, not a want.
As much as we’d all love to shop for a house with an unlimited budget, more often than not, sacrifices have to be made along the way. When this happens, having your wants list separate from your needs list can be a huge help.
Avoid These Errors With House Shopping to Make House Hunting a Breeze
Though a little bit of stress comes with the territory, buying a house should be more exciting than anxiety-inducing.
By avoiding these errors with house shopping, you can remove any unnecessary stress from the equation and focus on all the fun things you’re going to do in your new home!
In need of more information and advice for finding the perfect home for you? Take a look at our blog!