Buying a home is a huge decision that will greatly impact your life. If you make a mistake during this process, it may come back to haunt you for an extended period of time. Be prepared and cautious during the home buying process to make sure you do not have regrets in the future. Here are some of the most common regrets homeowners have after purchasing a home.
Agree with each decision
Oftentimes, a buyer will be so desperate to close on a home that they will agree with all of a seller’s terms, even if they are detrimental to the buyer. Never be so desperate for a home that you make poor financial decisions. If a seller is not willing to work with you, and create a fair deal for both parties, walk away. If you do not walk, you may end up regretting it later.
Not purchasing the correct size
When buying a home, it is important to try to anticipate how many bedrooms and square feet you will need. Many people anticipate that they will have a lot of children, and buy a home far too big for their current situation. Always remember that you can buy a larger home in the future if you end up having a large family down the road. On the flip side, do not buy a small home when you are planning on having a lot of people under the roof in the near future. Try to think ahead to what is realistic, and find the middle ground of the size home you should have.
Not adding in small details to the budget
Sometimes people overlook the small details of a home because they fall in love with one they view. When viewing homes, bring a list of all the features you need, and one for the features that would be nice to have. This will give you something to review when looking back at multiple homes you viewed. Remember that lacking many small details can add up into something huge.
Including location in home purchase
Location is everything when buying a home, so make sure you buy in the right area. Try to account for your commute to work, proximity to schools (even if you don’t have kids yet), amenities nearby, and how the neighborhood is projected to grow in the future. Do your research, and try to buy in an area that should rise in value over time.
Standing the searching process too late
Many people wait to start searching for a new home until they absolutely must move right away, and this is a big mistake. There is nothing worse than being rushed during the home buying process because you will likely make bad decisions out of desperation. Make sure to start looking into the home buying process long before your lease runs out, or you outgrow your current living situation.
These are some of the common regrets home buyers have after purchasing a house. If you have some forethought, and think clearly during your real estate transaction, you can avoid these mistakes and be thrilled with your home purchase decision. If you would like to learn more about how to make a great decision during a real estate transaction, contact me today!