5 Home Buying Mistakes You Can Easily Avoid
Top 5 buying mistakes
A study in the United States, about one in two regret the purchase of his new home . Read about the five home buying errors you can easily avoid!
1 – Insufficient space
A major buying error for most respondents in the study has been not having enough space for all their belongings. For example, young families starting out with a small condo quickly realize, when the family grew, they should have that additional space to accommodate the new members. The same phenomenon also occurs with the elderly who, thinking make a good choice, sell their big house to buy a small condo. They not only have to deal with their new small space, but also, often, they find themselves with too much furniture for the space they have.
As for the houses that used the ” home staging ” to embellish, pay attention to the size of the rooms, because often the professionals in the field will use furniture adapted to the size of the area. You will have a surprise when you try to bring your modular sofa 10 feet in the living room if it is too small. To avoid inconvenience, verify dimensions of parts in comparison to the size of your furniture before signing the contract.
2 – Do not perform renovations too close to moving
Several people, who want to move as quickly as possible, fail to do the renovations required, such as painting and repairs before moving. Thereafter, once installed their furniture, they are trying to revovate and move at the same time.
3 – Insufficient funds
Another common buying mistakes made by the new owners is to provide their budget only by the amount necessary for the required down payment . However, buying a new home requires much more than a down payment. There are many costs of purchase which can potentially be forgotten and giving the new owners must also pay taxes and renovations, in addition to pay moving expenses and other services. Result: many have to borrow money from the bank or use their credit card to successfully transition. To avoid unpleasant surprises, plan an extra budget of approximately 4-10% of the cost of the house, depending on the extent of renovations to perform.
4 – Poor choice of neighborhood
The neighbourhood in which you move can make all the difference: rates of violence and high crime, extreme noise in the area, dogs barking all night, busy streets. Learn in advance from your neighbors about the area in which you plan to move to avoid nightmares.
5 – Do not provide the distance with work
You may well have the most beautiful house in the world, if it takes you three hours every day to get to work, you will not be more satisfied. It’s scientifically proven: that traffic is one of the things that make the most unhappy people. Take the time to inform yourself about traffic on nearby roads during peak hours. If necessary, test during a weekday before signing your contract or learn from your neighbours. These are often your best allies when it comes time to inform you.
I hope these tips will help you anticipate future purchasing errors!
Wasaga Beach,Collingwood and Clearview Real Estate Agent
Coldwell Banker Ronan Realty