Five New Year’s resolutions for home buyers
There are numerous pitfalls that can take their toll financially as well as emotionally, particularly for those prospective buyers who have been searching for an ideal property for many months.
Here are five resolutions for home buyers to make this year.
- Don’t procrastinate
“Probably the biggest mistake buyers make is procrastinating,” explains Bright.
“If you dither you’re increasing your chances of missing a great buy. As long as the property you have found meets your list of requirements and you’re confident you’ve seen enough comparable properties (ideally around 100) so you know where value sits then don’t hesitate. More often than not, great deals don’t last long especially in a rising market.”
- Search with finance approval “Searching without finance approval can only lead to disappointment. It’s really frustrating to watch the home you want to buy go to someone else whilst you’re arranging your finance. In any case how do you know how much you can afford if you haven’t got finance approved in writing?”
- Know the area before you buy He warns that many people pay too much when they don’t know the area well. The solution is to research thoroughly.
- Don’t listen to family members or friends
While acquaintances can be well intentioned, their advice may not always be sound.
Many people have such a profound fear of failure that they’d rather you did nothing than make a mistake but if you’ve done your research properly then you should have nothing to worry about.
- Don’t make a fed up purchase
Even if you have been searching for a long period of time, do not settle and buy the wrong thing.
It is very expensive to get it wrong, not to mention all the time and effort wasted going through the process of buying and selling which will cost you around 10% of the purchase price. For a fraction of that cost you can get some professional help and more than likely buy a lot better for a lot less than you would if you handled the negotiations on your own.
FAVOURITE PICS OF THE WEEK !!