House hunting is an emotional and overwhelming process for a first timer. There are lots of decisions to be made on the location, type of house, the site, flooring, furniture and the list goes on. It is exhausting, to say the least, but exciting too. But where do you start? Do you just call any random property signage you see without checking if it meets your criteria, if it does fit all your standards is it the right price you are paying for that property? When you are not represented by a realtor like Redink – www.redinkhomes.com.au you more likely pay higher than what the property is worth as per experts at www.whatinvestment.co.uk/. Listed below are a few other things not to do while house hunting.
Don’t make emotional decisions: It is normal to allow emotions to control your decisions on choices, it happens to most people. But when you are deciding on a long-term choice, emotions should be set aside. Buying a home is a decision which is a long-term plan for many and hence do not make emotional decisions. Take time to think through; else it can affect you in the long term. A decision should be made based on what is needed rather than what is wanted. Talk to your family and make a list of what you need and what you want. When all your needs in property are fulfilled, you can then think of wants. Ensure you don’t purchase anything based on desires as you may regret your decision later.
Don’t forget that a home is an investment: There may not be any more significant financial investment than home for most people and bear in mind that this investment will not give immediate returns. It’s a lifetime of financial and emotional investment that you are putting into your new home that itself makes it an exciting prospect. Always carefully consider a home not only based on your wants but also base it on the investment value it can give you in the future. Moreover, do not overshoot your budget when buying a house as you will have to make monthly payments on the mortgage and other usual expenses of paying bills. You will be spending a significant part of your monthly income to the repayment of interest of the home you purchased. Think of your finances before investing in a property.
Don’t rush into buying a home: At times, a home feels just right for you and you want to sign that contract right there. You are advised not to do that; it could all end up being a wrong decision. Take your time, spend a few more hours and make a few more visits. If possible take someone with you who can provide valuable suggestions on whether this property is worth buying. Most often, they can find things that you would have probably missed out. Look at all the minor details around the house, the closets, cabinets, rooms, cupboards and the likes. Do not hesitate to check as you are only gathering information and not snoopy.