We all know the main mistakes a prospective house buyer can fall into. Not checking over the home via the use of a house inspector, for example, only runs the risk of buying property misrepresented in some way. Or, perhaps you’ll miss damp that even the homeowner didn’t know about, which could be expensive to fix.
Other mistakes might involve not scouting the general values of the local area and similar properties to see if you’re paying appropriate market rate. Another, though certainly not the final obvious error, is going through the process too quickly thanks to the pressure of the process.
We all know what it’s like to regret a purchase. But that’s not exactly an experience you want to find out first hand after signing a mortgage and paying such a large sum. For most of us, our houses are the most valuable purchases we make in our lives.
So, if the obvious mistakes are clear, what are the less obvious? Could it be that these are hiding under the surface and might trick even the most astute? We think so. Let’s help you avoid that outcome:
Mistake 1: Using Incompetent, Unsuitable Real Estate Agents
When an agent doesn’t seem to proactively learn what you’re after or keeps nudging you toward places that don’t match anything you’ve described, that’s not a good sign and it gets very frustrating.. You shouldn’t have to repeat yourself constantly or wonder if they’re even paying attention.
Remember you’re paying for the service and that good agents listen, and pick up on the little things, also asking questions that actually help narrow things down instead of pushing listings you’ve already passed on. Look to agents that try to help you explore homes that suit your lifestyle, not just what you can get for your money.
Mistake 2: Not Checking Development Potential
You may fall for a place that looks finished and ready, especially when it’s styled well, but not all homes give you room to change or expand. A solid structure might hide planning limits or housing development rules that don’t show up in a usual viewing, and once you’ve bought it, those things can stall any project you thought would be simple.
The last thing you want to do is buy a fixer-upper then realize the local area limits 50% of what you hope to do.
Even moving a wall, adding a small unit, or converting a loft can come with more friction than you’d expect. Check any zoning issues or protections homes have, especially if the area is rated as a natural preservation site.
Mistake 3: Not Researching The Area Closely
Some things you only learn when living in a home, but with visits at varied times and talking to neighbors or locals, you can learn a little. There’s a lot that doesn’t show up in listings or even during a viewing, like the sound of neighbors arguing through paper thin walls or the fact that there’s no proper place to park after 6 PM. You need time to get a feel for the area, to see it when it’s busy, when it’s quiet, when school lets out, when the pubs fill up even. That will tie into your lifestyle as we discussed above.
With this advice, we hope you can more easily avoid falling into the mistakes prospective home buyers fall into.