In the rush to become homeowners, some first-time buyers are skipping the pleasantries and plunging in head-first. Avoid these mistakes to save headaches later.
Not looking ahead
All you have to do is spend a day sitting around on your parents’ porch to hear all about how their neighbourhood has gone downhill. You might move out to the country and have a local farmers’ beautiful horses running wild just beyond a wire fence, who cheerfully come up to the fence to eat the carrots you offer them. In five years, that field could be a house with an owner who has a special affinity for garden “art”, outdoor knick-knacks, car parts and garden gnomes. Look towards the future of your neighbourhood, proposed developments, zoning laws, plans for any vast open spaces and any potential changes to your street.
Compromising a bit too much
Compromising is good, but not on the things that are most important. You’ll might always have to compromise when it comes to a resale home (the home with the in-ground pool or the home with the sunroom?). However, don’t purchase that perfect single bedroom home while you intend to have children in the future.
Not hiring a real estate agent
A real estate agent will set you up for success, but you can’t win if you don’t play. Realtors have the knowledge to get your current home sold while they help you find the home of your dreams. Some buyers decide to work with the seller’s agent only, but these agents are ethically bound to work for both the seller’s and buyer’s best interest, which might not bode as well for a buyer.
Not getting a home inspection
Even with all the press the consequences of not inspecting are getting, people are still failing to go through with a home inspection. While it’s tempting to close and become a homeowner for the first-time, your dream first home shouldn’t be a nightmare. It’s worth it, even just for peace of mind.