by Super User
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Buying A House? Don’t Make Mistakes!
Buying A House? Don’t Make Mistakes!

Buying A House? Don’t Make Mistakes!

Buying a house is probably one of the biggest purchases you will ever make.  So it makes sense that you want to do it right and get good value from your purchase.  You also need to protect your investment by ensuring there is nothing unseen that might come along to downgrade your value.  In life, there are risks with buying anything, but that doesn’t mean you have to leave yourself open to risk when buying your dream property.  Most people stay a minimum of 5 years in a property so you do need to know what is happening in the area you have chosen to buy in.

Buyer’s remorse is very real when it comes to shopping for homes, especially if you don’t look around enough or do enough research.  We have listed here a few ways that will help you to ensure you stay on the straight and narrow when it comes to home buying, and how you can keep your eyes wide open to avoid risks.

Education Is Key!

Buying a house isn’t an easy job or simple process. It takes time, patience, and the reliance on other people to ensure you get the best value for your money. You will, of course, consult the right advisors at the bank, and at the real estate agency. However, there’s nothing wrong with a little self-education so do as much independent research on the home you want, the area you want to live in, and the mortgage rates you can afford to pay.

Don’t Rush The process

This isn’t just about the process of making a purchase it includes letting the Real Estate Agency and Salesperson do their research for you to find just the right property for you.  So make sure you have chosen a good Salesperson to work with, one that listens to and documents your needs.  Of course you might not ever find the property that ticks all of your needs, so make sure they have identified with you what needs are imperative vs those you could live without.  Do your research on the right Salesperson to help you with this process. You want to make sure you find someone who is working for you and not themselves or the seller.  Your home choice matters, and choosing the right Real Estate Salesperson to help you with those choices is important.

Remember It’s Big Money!

This is likely going to be the biggest transaction you will ever make, so again you will want to get it right.  It will also be the longest transaction; it’s not just as simple as handing over the money and boom, you’re a homeowner. Your mortgage will last you up to 30 years, and you have to go into this purchase remembering that you need to be invested for the long haul, quite likely with other properties too. This means checking out the right rates of interest and that the payments you make per month are in keeping with your affordability.

Does It Sound Too Good To Be True?

If the price of a property seems too good to be true, then it probably comes with some risks as someone is looking to move out of something they no longer want to be tied too.

So check it out thoroughly, use all the local experts you can to research the property and the area.  Talk to other people who live there.

Generally, you can find some great deals with your mortgage. However, if you find a broker with no fees who is offering you more than the bank would, you need to really do your homework to make sure there are no hidden costs. If something sounds too good to be a good offer, then it probably is too good to be true. There’s no sense in allowing yourself to get swept up – buying a house is complicated!

If you follow these simple rules, then the likelihood is that you won’t come across any significant risks to your investment. 

MOST OF ALL DON’T BE IGNORANT OF THE POSSIBILITY

Whatever you do always take due care and do your research, don’t be ignorant to the possibility that there might be some hidden risks.  Eyes open and wallet shut until you are sure it’s the right thing!

If you need any advice or help, then don't hesitate to ask TEAM DAVIS: CONTACT US HERE

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