2 Mistakes to Avoid When Buying a Home.
Buying a house is one of the lifetime investment that we engage in and therefore you need to be very careful before you settle to buy any house. While many people will save all their working life so that they can buy a house of their dream, you will find that other will take a loan from the mortgage companies. Therefore, it is important that you buy a house that you will enjoy living in for the rest of your life, and it a time comes that you decide to sell this house, it will be easy to get a client and you will not sell it at a loss. Here are some of the mistakes that you should avoid when it comes to buying a house.
1.Avoid buying a fixer upper.
For some reasons, people buy a house that is total piece of crap, with a hope that they will renovate it and make it a beautiful house once again. Among the reasons why people prefer the fixer upper is because for one that is a bit cheaper and most of them are located in some of those neighborhoods that only the rich people live. The truth of the matter is, even if you will be staying in a good neighborhood, you will have to use a lot of money to do the renovations, the amount that is almost equivalent to buying a new house, and when the time to sell this house comes, you will not find a buyer that easy and even if you find, the probability is that you will sell that house at a loss. It is, therefore, important that you buy a house that is in a good condition so that you will be sure that your house will give you better returns and you will not have to spend on renovations.
2. Always make sure that you have done a pre purchase home inspection.
Before you buy a house it is always good to perform an inspection to protect you from buying a house that is in a bad condition. You should make sure that this inspection is done by a professional home inspector who will be able to identify the structural problem in the house, the dampness, the electrification as well as termite inspection among other issues related to the house. If the inspector warns you about buying a particular house maybe because it has so many issues, you need to listen to him lest you want to risk your money by buying that particular house. However, if you find the house has some issues and not the major ones, you can use this to your advantage to negotiate a better deal; that is if your mortgage company agrees to finance you for this house.
Quotes: straight from the source