Home Buying Mistakes And How To Avoid Them

home buying mistakes

Buying a house and lot property is not easy. It is overwhelming and sometimes, can be complicated, especially if you don’t know anything about the whole process. So most of the time, first-time home buyers make mistakes that they regret later on.

As a licensed broker with many years in the industry, I help home buyers to make a wise decision when it comes to buying a property. But sometimes, there are things that are beyond the control of any real estate agent. So here are some of the mistakes that you should avoid when you are a first time home buyer:


1. Not having enough savings

Buying a property is not that cheap. Even though there are a lot of affordable house and lot properties out there and flexible financing options to help you in the process, the real cost can be a pain in your pocket. Also, once you purchase a rent to own property, your expenses won’t stop. So most home buyers end up having money problems after buying a property because they don’t have enough funds to sustain their daily expenses.

So when you are planning to buy a property, make sure you have enough savings that will sustain your needs and lifestyle. Save enough so you have funds for your home and other expenses. Also, having enough funds will save you from stress and possible debts.


2. Not researching

As a homebuyer, you need to research for options. Even though you have a real estate broker, it is still advisable to do your own research. Know if the location you chose is a disaster or flood-free. Know if it is near commercial establishments and main roads. Also look for more other properties in different locations. Do a property research. Don’t just limit your search on what you know. Today, there are affordable rent to own properties in Angeles City, San Fernando City, Mabalacat City, Porac, Mexico, Tarlac, Olonggapo, Zambales, Subic, and many more.

 

rent to own properties


3. Not getting help from a licensed real estate broker

Hiring a licensed real estate agent is a big help in the whole buying process. They can assist you in finding the right home, the right location, the right price, the right financing options, and many more. They will also assist you in securing all the legalities and essential documents of your property. They can make the whole buying process less complicated and hassle-free.

 

Real estate broker


4. Not asking questions

Most, first time home buyers are unfamiliar with the whole process. Thus, they have a lot of questions when it comes to it. However, many home buyers are too shy to ask their real estate broker. Perhaps they are intimidated or don’t know how to approach their agent.

If you have questions, don’t be shy to ask. Ask as many questions as you can. Ask until all your confusions and questions are clarified. Don’t be afraid and too shy to ask your agent. They are there to help and assist you.


5. Skipping the property inspection

A property inspection is a very important part of the whole home buying process. If you are buying an existing home, it is important to visit the property and inspect possible repairs or damages that may add to your expenses.

On the other hand, if you have reserved a brand new home, make sure to also look at the whole property for damages and relay it to your developer so they can fix it right away. Don’t neglect or ignore this important process. Because once you missed any damage, you will be responsible in fixing it. And I assure you, it won’t be that cheap.


6. Skip the renovations

When you have a new home, you want to do a lot of renovations and upgrades to your home. But I suggest to skip it first, especially if you don’t have enough budget for it. Home upgrades are good. They increase the value of your property. But you don’t need to rush. Plan well and make sure you have enough budget for any home upgrades.


7. Overspending

One of the many mistakes of first time home buyers is overspending. When buying a property, make sure to buy only the house you can afford. Also, be prepared with other related expenses. There are other expenses that you need to settle aside from the property itself. So it is not wise to overspend on a property that is too expensive for your budget. When you overspend on a property, it can greatly affect your finances and lifestyle.



These are just some of the common mistakes of first time home buyers that you should avoid so you won’t regret anything.

If you need help in buying a property, you can contact me at 0918-963-6760 or send your inquiries online.

Get FREE Housing Estimate and FREE Site Tripping using this form.



About Mitch Prin

I am a licensed real estate broker who assists homeowners to find the best home for them and for their family. I am one of the Unit Managers of Hausland Development Corporation and Fiesta Communities Inc. I can help you find the most affordable rent to own properties at the location of your choice. I also give free housing consultation and free property visit. Let’s talk at 0918-963-6760.


Like us on Facebook

Follow us on Twitter