Are you in the market for a new house? If so, congratulations! House hunting is exciting, but it’s also a big task to take on—and the pandemic-induced hot housing markets make it even more challenging.
When choosing your new home, there are many different things you’ll have to consider, and of course, mistakes in house shopping to avoid. This article will take you through some of the most common house shopping mistakes, and what you can do to stop yourself from making them. Purchasing a house is a huge decision, and you certainly don’t want to make any missteps!
1. Buying the First House You See
This is pretty much rule number 1 when it comes to buying a house, and for good reason. When you’re viewing houses, you should always make sure to shop around, and never buy the first one you see. Even if you think you’ve found the perfect home, it’s still a good idea to check what’s out there so you have a reference point for both price and quality.
2. Not Sticking to Your Budget
Before you even begin looking at home, you’ll need to figure out your budget. You can do this by assessing your own finances as well as your needs and the state of the market. Once you do pick a budget, you should try to ensure you stick to it as best as you can.
3. Not Having a Home Inspection
Carrying out an inspection of any house you’re seriously considering is a crucial step. This will allow you to make a fully formed decision about whether you’re satisfied with a property and how much you’re willing to pay. If you forgo this step, you could be setting yourself up for nasty surprises down the line.
4. Not Accounting for Closing Costs and Other Expenses
So, you’ve found the perfect house at the perfect price, but how perfect is it really? Have you remembered to factor in extra expenses like closing costs and agent’s fees? Forgetting to factor in these costs can end up pushing you over your budget, something you don’t want to do.
5. Not Working With a Real Estate Agency
Especially if this is your first time purchasing a home, it can be a good idea to house hunt with the help of a real estate agency. A realtor will have access to exclusive listings, and can guide you through the process step by step. If you’re in Canada, try an outfit such as The Lucas Group
6. Not Doing Proper Research
When making such a big purchase, you’ll want to make sure you research everything extensively. From the types of features you want in your home to how much renovations will cost you. One thing that’s especially important to research is the location of your chosen home—what’s the community like, what amenities does it have?
Don’t Make These Mistakes in House Shopping
As you embark upon your house hunt, be careful not to make these mistakes in house shopping. Be thoughtful and careful in all of your decisions, and don’t be afraid to ask for help. For more tips and tricks, see the rest of our content.