There are a lot of things running through your mind when you are choosing a home. Sometimes, it can be a rather daunting task with the endless check list. But there are some things that many home buyers, especially first home buyers, forget to consider.
Here are the 6 mistakes that home buyers make when looking for a property.
Inspecting the property only once
Even if it’s a thorough inspection, you shouldn’t leave your investment to only first impressions. It’s easy for a property to look shiny and new on the first go, but does it add up after another inspection? Could you find something you forgot to check on the second round?
Not doing your independent research
The agent wants to help you get the best option, but they also just want you to make a purchase regardless. Even if you feel your agent is a trustworthy person, it’s good to figure things out on your own. Do some research about the property without the bias from the agent.
Getting a professional property report
Get a professional team or individual to give you a genuine rundown of the property. This will include estimated price range and insights into the suburb and house itself.
Checking out the neighbourhood
Do you know if the neighbours party all hours of the night? Does the suburb have a good reputation for safety? Are you going to get loud traffic during early hours? There’s some things you just can’t judge by being in the property. Scope out the surrounding neighbourhood and try and see if it’s a right fit for you.
Getting advice on mortgage options
You might have been offered a mortgage that you’re happy to sign for, but are there other options that are cheaper in the long run? Don’t assume that the one option is your only option. This is another situation where you should speak to a professional about what the best choice is for your circumstances.
Underestimating other costs
You’ve got a price range you’re happy with, but is that going to be all? Make sure you think ahead when you’re buying and consider future costs such as maintenance and utility installations. It may end up costing a lot more than you expect.
Once you’ve considered these points, you should be ready to take the plunge and purchase that property. Make sure you’ve got the right team with you through the process, and speak to the experts at O’Brien Real Estate.