Buying a house is the chief goal for many. It’s the most important thing on your bucket list that you want to tick off as soon as possible. People are so adamant about buying the property of their dreams that they overlook basic mistakes that can cost them money. One mistake that people make is choosing a great property over a good area. There will be responsibilities such as repair work around the house, for instance, cleaning air ducts, or fixing the roof, so it’s better to buy in an area that’s not too far away from the reach of labor and supplies.

You might think you have to buy a perfect house that fits all your requirements. But when it comes to choosing a property, you must choose one that is closer to amenities and the market. You can buy a satisfactory house and later upgrade it to your requirements but can’t avoid distant travel for every emergency.

First-time buyers overlook these points which lead to regret. Below are some common mistakes that first-time buyers make. Keep reading so you can avoid them.

Mistakes that you must avoid

1. Assuming your budget without a professional lender: You think you can buy a house for $600,000 near the downtown area. But, when you allow a professional to calculate all the expenses, you might be able to afford a $300,000 property. There are tons of expenditures when it comes to buying a property. It’s not just the house. A lender helps you to get a proper estimate and polish your budget. Therefore, you must get pre-qualified by a lender and avoid setting yourself for disappointment.
2. Looking for the absolutely perfect property: This may burst your bubble but a house — at walking distance from the grocery store, hospital, school, and your favorite restaurant, with 2 car parking spaces and proper fencing around a beautiful garden — does not exist. No house will tick all the points on your checklist. An ideal property should match your expectations by 75% and you have to make up for the remaining 25. If you keep on looking for a unicorn, you’ll miss out on good properties that have amazing potential for upgrades.

1. Letting the agent represent you when it’s time to make an offer: So, you finally like a house and are ready to make an offer. At this point, the agent tells you that he can represent you in front of the seller. You might think this can save you the hassle, but that’s not the case. Think about it. Whose side is the agent on? He’s on the seller’s side. He’s working for them and the commission.
   
   One can’t work for both sides. You can talk for yourself or hire a buyer’s agent. These people are expert negotiators who have buyers’ best interests in mind. Paying them is actually an investment that can save you a lot of money.

1. Not educating yourself about the market: The worst thing you can do while buying a house is rush into the first house you see. But there’s something even worse — losing properties back-to-back because you’re taking too long to decide. If you’re missing out on a number of buying opportunities, it means that you need to change your strategy. Learn a bit about the market and trends and be ready with your offer when you see a good property on the market. There’s a difference between being patient and being late. There are competitors and you have to hit hard to seal the deal when it comes to real estate.

1. Falling in deep love with one property: It’s understandable that some properties just hit the right spot. You start imagining yourself in the house with your family, having the time of your life. When that house sells, you find yourself in deep grief. It’s worse than a breakup. But you have to lift yourself up. There are other properties on the market. There’s no point in falling in love with a single property. Mingle with 3-4 options at one time so if one goes down, you have others to lean on. It’s just like dating; you don’t marry the first property you see.

These were general mistakes the first-time homebuyers make. The good part is, they can easily be avoided. When you go out looking for a property, you are under influence of many people. Most of these are elder members of your family who shower you with their knowledge.

It’s wise to take advice, as buying a house is quite challenging. You’re living under a rock if you think you’ll get the perfect house of your dreams on your own, in a matter of days. It takes months to land the perfect property. But it’s all worth it as you’re probably going to spend the rest of your life in that house.

Meta title: Mistakes to Avoid When Buying Your First House
meta desc: Buying a house feels heavenly. The joy is doubled when you seal the deal at a good price. Don’t let the joy evaporate by making the same mistakes that every buyer makes. Read on to learn more.