5 Expensive Mistakes to Avoid When Buying a Home

Do Not Make These Costly Errors and Save Thousands of Dollars When You Buy Your Next House.

Major repairs involving hydraulic piers can cost more than $10,000.

According to Homeadvisor.com typical foundation repairs range from $1932 -$6986. A roof can cost more than $10,000 to replace.  Windows can cost over $1000 each, installed. Just imagine if you have to replace 12 of them!

Shopping for your new home is very exciting. However, when buying, you must check for issues. If you don’t identify big issues with the foundation, plumbing, or the roof you will find yourself with a hefty bill. Take this opportunity to learn about 5 expensive mistakes to avoid when buying your new home.

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Number 1.  Doing it yourself and not asking for Professional help.

There are many parts to buying a house. Each step requires detailed knowledge and understanding to avoid expensive mistakes. You can easily perform these steps by yourself. However, performing them correctly is a whole different animal. Common mistakes people make are:

  1. During Negotiations, overpaying or miss understanding what the contract means.
  2. Inspection period – not seeing that there is a structural issue, or the HVAC needs to be replaced.
  3. Closing – agreeing to pay for items other buyers wouldn’t pay for.

These Are examples of mistakes that could add up to thousands of dollars. They are also mistaking that can easily be avoided. For example, an inspector would identify any problems with the house.

Number 2. Not setting a budget

before even starting to shop for a house you must know how much you can afford. Too often, people start looking at houses that will really stretch their budgets. This will cost you in several different ways.

  1. It will cost you a lot of extra time as you will look at homes you cannot buy or should not buy.
  2. It can cost you a lot of emotional stress and anxiety.
  3. It will save you a lot of money in the future because if you can’t afford the house you may miss payments and lose it.

Number 3. Not knowing why you are moving

You should clearly understand why you’re moving. It should be simple for you to explain it to other people. Buying in selling a house costs a lot of money. It also costs a lot of time. It is also a huge drain emotionally and can be very stressful. always add up to a really big cost. Unless you have a really good reason to move many professionals will suggest you stay put.

Number 4. Not being patient and buying your new home too quickly.

You must take your time when buying a house because:

  1. It is one of the largest transactions we typically make
  2. It costs a lot to move.
  3. You don’t want to move again
  4. The idea is it will be your long-term home.

Being patient is a key component when buying a new house. Give yourself the opportunity to research different neighborhoods, different home layouts, and if you take your time you may find yourself in your perfect forever home. Do not make the costly mistake of deciding too quickly. This could become a huge regret.

Number 5. Not being flexible

We all want to find the perfect house. However, if you aren’t flexible you could miss out on an amazing opportunity. Some things are more important than others and Alisha, an agent in Denver, Colorado suggests creating a list of “must-haves” and “nice to haves”. This allows you to give each home a score. If it meets enough criteria, the price being one of them, then you should pull the trigger. Not being flexible could be very costly.

Buying your next house is an extremely exciting prospect. And extremely be sure you understand all of the ends and outs. Be ready to ask for help when you need it. By doing this you won’t make any mistakes. You can move into your new home knowing that there are no hidden repairs or expenses.

Hi, My name is Shaun.

I am passionate about learning, innovating and I love helping people. Real estate investing lets me do both.

There are so many adventurous avenues in Real Estate for me to explore. There are also many practical ways to help the community by providing houses for people to call home or by teaching people the many options and ways they can benefit in the world of real estate.

My mission is to grow communities by providing, anybody willing to work, places to live and to make a great living and ultimately providing security and options for themselves and their loved ones.  

If you would like to know more about me or our team at Watson Buys I invite you to work your way through our website to learn who we are and how we work.

You also have an option to contact us or leave a comment. Everyone here at Watson Buys values your feedback.

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