3 Mistakes To Avoid When Buying Your First Home
Buying a house is very exciting. If you are a first time homebuyer you might be ready to jump in with both feet and find the perfect house for you. Although you should be excited about buying a house, you need to be careful to avoid certain mistakes that can lead to regret later. Here are some things you need to avoid when buying your first house.
1. Looking At The House As A Whole, and Not As A Structure
When you first look at the house, if it is not brand new, it will have furnishings and things in it to make it look homier. The décor of the prior owner may be very appealing and because of that you may feel like it is the right house for you. But once all of the furniture and décor is removed you may notice things about the house that you didn't like. Instead, you only liked the décor.
The opposite is true as well. Many people dismiss a house because the prior owner's style didn't match theirs. So they can't get past ugly wall paper, or the style of the home not realizing that the structure is what they are buying, not the décor.
2. Not Reading HOA Documents
Most neighborhoods have a homeowners association (HOA) in place. The HOA will play an important role in your house. There will be restrictions, fees, penalties and things that you must do to your house to keep it up to their standards. HOAs can be expensive and everyone is different. For this reason, you need to read through all of the covenants and restrictions before you purchase a house. Otherwise, you may have a problem like owning a trailer and not being able to park it on your property.
3. Making The Buying Process Too Emotional
Lastly, you need to remove your emotions from the house buyer process. Although you want to be excited about the house, you need to treat this like a business decision. There should be a checklist of things that you need and be ready to walk away if you can't get the right deal. Too many people decide that this is the house and then they overpay because they can't walk away. You will find the right house, but you need to do so with a rational mind, not an emotional one.
By avoiding these mistakes you can be pleased with the home you purchase.