Buying a home can be one of the biggest financial decisions you are likely to make in your life. This can be a most rewarding and exciting time provided you avoid some typical mistakes that many people make.
You can spend days, weeks or even months looking for the right home. It can be very frustrating. Finding the right agent will make finding the right home a lot easier.
The right home will have the right ‘feel’. Don’t be pushed into making a hasty decision. If it doesn’t feel right, don’t buy it.
However, don’t procrastinate or be over cautious either. If the home is right and you hesitate, it may be sold to another buyer. You could then be looking for months, always comparing everything you see with the one you missed.
All homes, particularly if they are old, have some small faults. For your safety and peace of mind it would be advisable to make your purchase subject to a building inspection. If you discover major structural defects you can choose to either walk away or renegotiate the price.
The other condition you may want to include in your contact of purchase is apest inspection. You want to make sure there is no infestation and if there is you want it treated.
if it’s the right home, give yourself the best chance to buy the home by paying the highest price you’re prepared to pay. The lower your offer, the less chance you will have of buying the home and the greater the chance of losing it to another buyer. It’s no good saying you would have paid more after it is sold to someone else.
A word of warning, don’t pay more than you can afford. Financial stress is terrible and it tears families apart. Make sure that when you buy a home, you will be able to keep it and enjoy it.
Put your offer in writing with all your terms and conditions. your offer is not a legally binding contract until the owner signs the contract accepting your offer.