Most of us think carefully about budget and location before buying a home, and we probably have a wish list filled with what we want. Despite having a good idea about what you want and can afford, people still often make some tough mistakes when shopping for a home. Listed below are a few common errors people make when buying a home.
Think about all of the costs associated with home buying, especially if this is your first time buying a home. Aside from closing costs and down payment, which eat up a chunk of your savings, think about the costs that occur monthly and yearly. This includes association dues and property taxes. While on paper, you might actually be able to afford the actual mortgage payment; can you also afford association dues, taxes and insurance? If your house costs $300,000, you'll pay about $3,000 or more in property taxes. Association dues can be quite affordable, but in some communities, they can be hundreds of dollars each month.
Many people find a home that they really, really love but become completely blind to its faults. This is a huge mistake. Never love a home so much that you overlook problems that cannot be fixed. For example, you will never be able to change the location of your home. If it's a bad location or if the neighbors are horrible, you cannot ever fix that. Busy, noisy streets will always be that way. A school or church across the street will never go away. Get to know the neighbors and neighborhood by taking a walk in the area. Listen for constantly barking dogs or other irritants and talk to the neighbors and check out their impressions of the neighborhood in general. Drive by at different times, day and at night, to get a better idea of how the neighborhood functions.
Often we are dazzled by impressive staging or a fully update kitchen with sparkling appliances. However, that beautiful kitchen might have almost no counter space or storage. That beautiful master bedroom with the amazing drapery and crown molding also might have a tiny closet and a miniscule ensuite bathroom. You can make a room look great very easily with cosmetic changes, but you cannot make a home bigger or make closets larger and add bathrooms. Or, if you can, it's an extremely costly and difficult process. A bland home with huge potential can be a much better buy than a home that just looks pretty. Judge the home by its true condition, not its ascetic condition.
Sometimes we plan on living in a home forever, but that plan doesn't always work out. For any number of reasons you might need to sell your home, so think about how easy it might be to sell the home if necessary. A home near great schools and close to services on a safe, well-kept street generally sells well. A home with an open floor plan and an adequate number of bathrooms and lots of storage also sells well.
The search for an ideal home begins by contacting a real estate expert, such as the agents at 1st InSite. No matter what city you like or budget you have, they can help you find a fantastic home. They are highly knowledgeable about the real estate market in the East Bay and can find Alamo real estate, Danville real estate, Moraga real estate, Walnut Creek real estate or any other East Bay town or city.
Think about all of the costs associated with home buying, especially if this is your first time buying a home. Aside from closing costs and down payment, which eat up a chunk of your savings, think about the costs that occur monthly and yearly. This includes association dues and property taxes. While on paper, you might actually be able to afford the actual mortgage payment; can you also afford association dues, taxes and insurance? If your house costs $300,000, you'll pay about $3,000 or more in property taxes. Association dues can be quite affordable, but in some communities, they can be hundreds of dollars each month.
Many people find a home that they really, really love but become completely blind to its faults. This is a huge mistake. Never love a home so much that you overlook problems that cannot be fixed. For example, you will never be able to change the location of your home. If it's a bad location or if the neighbors are horrible, you cannot ever fix that. Busy, noisy streets will always be that way. A school or church across the street will never go away. Get to know the neighbors and neighborhood by taking a walk in the area. Listen for constantly barking dogs or other irritants and talk to the neighbors and check out their impressions of the neighborhood in general. Drive by at different times, day and at night, to get a better idea of how the neighborhood functions.
Often we are dazzled by impressive staging or a fully update kitchen with sparkling appliances. However, that beautiful kitchen might have almost no counter space or storage. That beautiful master bedroom with the amazing drapery and crown molding also might have a tiny closet and a miniscule ensuite bathroom. You can make a room look great very easily with cosmetic changes, but you cannot make a home bigger or make closets larger and add bathrooms. Or, if you can, it's an extremely costly and difficult process. A bland home with huge potential can be a much better buy than a home that just looks pretty. Judge the home by its true condition, not its ascetic condition.
Sometimes we plan on living in a home forever, but that plan doesn't always work out. For any number of reasons you might need to sell your home, so think about how easy it might be to sell the home if necessary. A home near great schools and close to services on a safe, well-kept street generally sells well. A home with an open floor plan and an adequate number of bathrooms and lots of storage also sells well.
The search for an ideal home begins by contacting a real estate expert, such as the agents at 1st InSite. No matter what city you like or budget you have, they can help you find a fantastic home. They are highly knowledgeable about the real estate market in the East Bay and can find Alamo real estate, Danville real estate, Moraga real estate, Walnut Creek real estate or any other East Bay town or city.
About the Author:
Madeleine Glazier likes writing about the real estate industry. If you are searching for Danville real estate agents, or to find Danville homes for sale, please go to the 1stInsite.com website today.
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