2 Mistakes to Avoid When Buying a Home.
Buying a house is one of the lifetime investment that we engage in and therefore you need to be very careful before you settle to buy any house. While many people will save all their working life so that they can buy a house of their dream, you will find that other will take a loan from the mortgage companies. It is therefore very important that you make sure that you buy a house that you will love the rest of your life, and if need be that you sell it, you will be able to find a good buyer and you will not sell it at a loss. In this article, we are going to discuss 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. Some of the reasons why people buy that fixer upper is because they are cheap and most of them are in this neighborhood that you would wish to live. Although you might a fixer upper house in a very good neighborhood, the fact is that you will have to spend an amount that is almost the same with buying a new house, and it will be difficult to find a buyer in case you need to sell your house, and if you will be able to find one, you will sell that house at a loss. It is important that you buy a new house so that it will give you better returns in future, and you will not have to spend on renovations.
2. Perform a Pre Purchase home Inspection.
It is very important that you perform an inspection on the house that you are intending to buy before you can part with your money. You should make sure that this inspection is done by a professional home inspector who will be able to identify the structural problem in the house, the dampness, the electrification as well as termite inspection among other issues related to the house. It is always good to listen to the inspector, if he warns you against buying a particular house because maybe it has many issues, not unless you want to risk. 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.