Buying a house is a critical step. For many, the purchase of their first home is the biggest financial exchange of their lives. And at such a crucial moment, any mistakes must be avoided.
Of course, it is not only a matter of money. Many emotional factors, unfortunately can lead to rash decisions and regrettable choices. This article has gathered the most common real estate mistakes to help you avoid and recognize them.
Not Comparing Enough
As we look at two or three houses, you find one that looks much better than the other. We instinctively feel as if we are already in that house and imagine our future there. But is there such a need to rush?
You should have toured at least 10 houses before buying a home. We are talking about a decision that will affect your daily life for years to come, so the last thing you want to do is rush.
Perhaps the homes you have toured so far have not met your expectations, and you are comparing them in your mind to homes you have already seen. However, you must remember that the best may be in the homes you have not yet seen.
Real Estate Marketing
In the last 20 years, and especially in the last decade, real estate marketing has become much more sophisticated and widespread than ever before. We are talking about many aspects, such as:
Photography techniques to better showcase your home on real estate advertising websites.
Being able to make small changes that create significant value in the eyes of those who visit but actually drive up the price significantly.
Using “home staging” techniques to present the property in a particularly satisfactory manner from an aesthetic standpoint (from cleaning handles to the placement and number of books on the bookshelves).
This is done to present the house in the most beautiful way possible, and as a result, we find a higher value for the property than it actually is. In fact, a house looks very different from its everyday life and from the way it is decorated for sale.
On the other hand, some properties do not stand out in the advertised image. These are pictures that lie and can hide a great opportunity. Please contact the agency to clear up any doubts you may have.
Homes are usually offered for sale at a higher price than the actual market value. In this case, there is a risk that the final offer will be too high, even if the initial price can be lowered during the negotiation phase.
Conversely, the bank will not accept the loan because the appraisal is much higher than the property’s actual value.
The best way to avoid such mistakes is to enlist the help of an experienced real estate agent. In doing so, you can rely on professionals who understand whether the seller’s demands are out of the question.
Resisting the Pressure To Buy or Sell
We often try to resist the pressure exerted by sellers. You may have heard from the real estate agent monitoring the sale that there are other very interested buyers and purchase offers. This may force us to act as quickly as possible for fear of losing a potential deal. However, be careful not to be at the mercy of the real estate agent. Try to be calm and objective, focusing on the price you think is fair.
These tips make buying a home a more rational, thoughtful, and practical process. This way, you can find the most suitable home within your budget!