Buying a house is a big decision for every individual.
But when it comes to taking this step, it is quite natural for a first timer to
make mistakes…..We have compiled a list of common mistakes people make while purchasing a property…so that you don’t repeat them!
1.
Choosing the wrong agents
If you wish to purchase a home with the help of an agent,
you must be sure of the agent’s abilities and past deals. It is better to go
through someone’s reference rather than believe a complete stranger.
Also, hiring the cheapest and least experienced agent will really not get you the results you want.
Also, hiring the cheapest and least experienced agent will really not get you the results you want.
2.
Wiping out your entire saving
Never stretch yourself to pay the down payment for your
new home. Do not resort to ‘Beg, borrow, steal’ under any circumstances,
because there are going to be many more expenses apart from the down payment. Purchasing
a home is an important step, and unnecessarily stretching yourself to make the
down payment will only make the step feel unpleasant.
3. Ignoring
professional advice
Google does not know everything! And it certainly cannot
advice you!
Listen to your lawyers; chartered accountants and brokers
… never disregard it. After all they have seen more in the industry than you
and I put together!
4.
Picking the wrong neighborhood
As discussed in many of our older posts, location plays
an important role in the decision of purchasing a property. It is important to
know the crime statistics of the area, as well as to get a feel of the
environment there. Also, in a country like India, it is necessary to know what
culture your neighbors are associated with.
5. Skipping
Home Inspections
It is important to get your home inspected by a team of
professionals to make sure everything is in order.
We can’t fix everything and we shouldn’t attempt to
either. In the lure of saving money, we end up ignoring major repairs and
service needs.
6. Biting
of more than you can chew
Temptations are always hard to resist and normally tend
to make us take two steps at a time! Once you purchase a home, temptation will
make you want to buy a new car.. or may be new furniture…or a new LCD.
It is wiser to take one step at a time and not jump into
everything together. Money is never unlimited! Always think of tomorrow…
No comments:
Post a Comment