Are you a couple who is already planning to settle down? Or are you a working professional who wants to invest on a new property? Certainly, you will be very much excited being a first time buyer. However, first time buyers are prone to making mistakes while purchasing their new houses. This is because most of them are buying through impulse and without the genuine real estate expertise.
With this, here are several ways on how to prevent doing any mistakes in buying your new house.
Avoid the mistake of not checking the charges and your budget above all. Most of the first time buyers are having problems with this because they will just choose the house because of how nice it looks and not establishing the right amount of budget that they can handle. They would just find themselves paying more than what they can afford and may just end up having the house to foreclosure. So, you just need to have the best amount that you can pay. Keep in mind that you will need to pay the mortgage, insurance premiums, HOA fees, maintenance and property taxes.
Avoid the thought of not doing any negotiations. Being first time buyers would not apply any negotiations because they thought that the first offer is the thing that is going to be agreed on. The truth of the matter is that it could be up to three percent of the price that is being asked. It is not going to hurt you if you negotiate a bit. Who knows, you might get your house at a lower price.
Avoid buying a house on your own. This can be perhaps the most common mistake of the first time buyer. Most of them do not get professional assistance from brokers. One of the possible reasons why people are avoiding this is the thought that it will be more expensive since the broker will get their percentage and will add up to the price. However, it is very beneficial for you as they are trained to do good negotiations and ask good terms of payment. Also choose the best and experienced agent for you.
Avoid being deceived by the looks. Most of the first time buyers would just buy the house because it looks very good superficially. They are allured by the looks of the house and thinks that they are worth buying. However, they would find themselves spending more in repairing its parts in the future. With this, it is important for you to get a professional carpenter, plumber, electrician or other inspectors to check everything before you buy it. In this way, you will save yourself from the inconvenience of all these problems at the same time, you can save money on future repairs.
These are only some of the first time buyers’ mistakes and what they can do to avoid it. And if you are a first time buyer in search of your new house, you can visit Affordable Housing in San Diego and Affordable Housing in La Jolla for the most affordable houses that you can find out in the market.