Buying a home is one of the biggest purchases you will make. It can be an emotional process but that doesn’t mean you should make an emotional purchases. Here are a few common mistakes you should be aware of:
1. Waiting for the Perfect Deal
The market always goes up and down so it’s easy to believe you will find a better deal. Yes, the market could drop but you’re still never certain if it will. The best thing you can do is research and not get hung up on finding better deals forever.
2. Love at First Sight
In real estate you should never believe in love at first sight. Even if you do love the first home you see, look at 5 more homes just to make sure it’s true love.
3. Looking for Perfection
This is similar to waiting for perfect deal because you might never find it. Have an open mind because it is unlikely you will find a home that crosses everything off your list. Make sure you don’t overpay for perfection as well!
4. Not Thinking About the Future
People are investing to live in a neighbourhood but don’t often think about the future of that area. Will there be construction there in 5 years? A highway behind your house? Are house prices declining in the area? You have to think about these things so you eliminate unpleasant surprises in the future.
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