Tuesday, March 10, 2015

House-hunting fails: How to avoid them

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There are many things that can go wrong when you're house-hunting but there are ways to ensure you don't commit mistakes. Having awareness and keeping an open mind are some of the things you have to have when scouting for your new home. The following are common house-hunting mistakes and how to avoid them:

Going beyond your budget

Falling in love with a house you can't afford is heartbreaking. The easiest remedy for that is only to look at houses within your price range. Going over your budget will be a huge financial burden on you in the future. You may not be able to buy your dream house, but you can build one slowly but surely from the house you can afford.

Putting limits on your options

Thinking that the first house you've seen is the perfect house will limit your options. Make sure that you visit other available houses, too, before deciding which one is the right one for you. This is especially important if the house you found is over your budget and you assume that nothing could be better. Exhaust all your options before making a decision.

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Overlooking flaws

Ignoring leaks or other potential problems in the house is a bad move. Don't assume that you can get it fixed or that you can do it yourself. Be realistic. If the house you want has a major damage, check if the repair costs would still fit your budget. If not, move on.

Rushing into a purchase or being too slow.

You can't rush an important decision like buying a house. Don't be desperate if it's taking you a while to find the right home. Weigh the pros and cons of every potential purchase and don't rush to make offers. Likewise, don't be too slow lest you want to lose the house of your dreams. Finding the right balance between thinking it through and making quick decisions is key.

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1 comment:

  1. I like that tip to only look at houses in your price range. That way you won't buy a house out of your budget. Remember, a house is a long term investment and it'll impact your finances for good or bad for a long time. http://www.gregmosley.com/Pages/About-Jacksonville.aspx