Avoid These Mistakes While Buying a Home.
Buying a house is considered to be a lifetime investment, that you intended to yield results all the years of your life, and therefore it is important that you be very careful before you part with your money to buy any house. Most people save all their life so that they can get the money to buy the house of their dream, while others will take a loan from a mortgage company. For this reason, you need to make sure that you buy a house that you will love the rest of your life and in case you might want to resell it in future, you will sell it at a profit not at a loss. Below are some of the mistakes that you should avoid when it comes to buying a house.
1. Do not buy a fixer upper.
You will find that some people for some reasons prefer buying a house that is in a total mess with a plane of renovating it and making it nice house. In real sense, the reason why people prefer buying the fixer upper is that they are less expensive and they are located in some of that neighborhood that only the rich live. The fact is buying this kind of a house will only lead you to make some losses after some years, you will have to spend a lot on renovations, which actually could be the same amount you could have used to buy a new house, and when it comes to selling that house, it will be difficult to find a buyer, and if you find one you will be forced to sell that house at a lower price. Therefore it is always good that you buy a new house so that you will have a guarantee of lifetime returns and you will not have any renovations done in near future.
2. Always make sure that you have done a pre purchase home inspection.
Before you buy a house it is always good to perform an inspection to protect you from buying a house that is in a bad condition. This should be done by a professional home inspector who will be in a position to identify any structural problem, dampness in the house, the problem with the electrification, termite inspection among others things. If the inspector warns you about buying a particular house maybe because it has so many issues, you need to listen to him lest you want to risk your money by buying that particular house. All in all not all fair inspection report are bad, if you find that the house doesn’t have major problems, and your mortgage company agrees to still give you loan, you can use this to negotiate a better deal with the seller of the house.