7 Biggest Home Buying Mistakes

Bangalore : Without any knowledge most of the home buyers will plan to buy a home and make mistakes. No one likes to make mistakes, by this most of the time will be consumed and they can cost you a lot of money as well. Before buying a home all the buyers should develop short and long term perspective on their purchase.

No proper planning while shifting:  Many home buyers who are staying in the rented houses get into a problem with their agreement. They make an offer on a home, forgetting their renting period. This may cause penalty otherwise your owner will forfeit your security deposit and may hold the amount for recovery.

Spending maximum money: Buying a home gives you an excitement and a lot of buyers are optimistic about their future. Without estimating the amount they will borrow a maximum amount that they can afford. But first thing is to decide is how much they want to spend for a month, every buyer should be clear about their own budget and expanses need to maintain the limits.

Not getting a pre approval letter: Most of the buyers don’t have their financial ducks in a chain before they offer. This results loss of time and perturbation. Sometimes earned money is surrendered too. This problem can be solved by contacting a mortgage lender before you start looking your dream home. By knowing complete pre approval processes get a letter from the lender that you are comfortable to go for a certain amount.

Don’t forget about expenses: Buying a home is not just a replacement of rental amount, it may include all the maintenance charges and utilities. Most of the buyers will forget about property taxes, insurances and Bills. When you are figuring out your money keep in a mind of this extra charge.

Not checking out the neighborhood: Almost all the home buyers fall into this trap. By seeing a house they will decide that it fits for them, but main thing is the neighborhood. If the neighborhood does not fit your lifestyle you won’t stay for a long time. Before buying you should arise these questions like are there any gangs? Is there any criminal group? Is it a peaceful area or active area? Is schools are in easy proximity? For avoiding these types of problem, visit the home in different times then you can get to know easily.

Choosing a property which hard to sell:   Now a day’s most of the properties have a landscaping problem they may affect you for selling a home. If the home that back up to the railway tracks, freeways, industrial areas are not much preferable to buyers. So be care full while choosing the property main location plays an advantageous role.

Blindly following the broker’s advice: By that time, many buyers mind will be in a confusing state so they will follow the Realtor advice. All the agents/brokers will not be genuine. So be careful and step forward.