There are ways to avoid costly mistakes
Buying or selling a home can be a complicated process. That’s why you need to make sure that every aspect of the process is done correctly in order to avoid costly mistakes.
Pitfalls when buying a home:
- Being unprepared
Making a huge investment like buying a home requires a lot of research and planning. Consider what’s important to you. Proximity to work? Good schools for the kids? Amenities? If you don’t look into what the neighborhood has to offer, you may end up regretting your buying decision. - Underestimating the cost of owning a home
Buying a home doesn’t just include the cost of the home and the agent’s commission fees. Once you sign the contract, you’ll have to pay closing costs, mortgage fees, and property taxes. Owning a home also means dealing with the cost of upkeep and maintenance, utilities, and homeowners’ association dues, if applicable. Before you even start searching for a potential home, take a long, hard look at your finances. Determine if you can live with the lifestyle changes owning a new home entails. - Skipping the home inspection
When buyers want to purchase and move into the home immediately, there’s a temptation to cut corners – especially when it comes to home inspection. Don’t. The amount of time it takes to have an inspector look through the home you’re buying is worth the misery of having to discover and deal with mold, water damage, and foundation issues after you’ve moved in. Hire a certified home inspector once the contract signing is done to make sure you’re buying a home that’s fit to live in. - Falling in love with a home
Once we spot what we see is the home of our dreams, it’s easy to turn a blind eye on its problems and issues. It could also be too expensive to maintain and may end up compromising your lifestyle. Keep your emotions in check and try to be objective when viewing homes.
Pitfalls when selling a home:
- Overpricing
When you overprice your home, you decrease your chances of selling it. Buyers get discouraged and disinterested when homes are priced too high, leading it to stay in the market longer. Price your home based on the prevailing rates and trends. Find out how much similar homes in your neighborhood were sold for. Better still, hire an agent so they can do a Comparative Market Analysis or comp for you. - Not preparing the home
If you want to sell your home, you have to put your best foot forward. Repair what needs repairing and fix what needs fixing. Make sure your home is in top shape. Before open houses and home visits, rid your home of visible clutter and scrub down bathrooms and kitchens. It goes without saying that a messy home with busted lights and broken fixtures won’t be appealing to buyers at all. - Not having the right Realtor
Having an agent that doesn’t deliver will delay and frustrate you. The right Realtor should be someone who is experienced, knows the area and market well, and fully understands your needs. Look for recommended Realtors in the area or ask your family or friends for recommendations. You can also check reviews and testimonials online.
With over 30 years of real estate experience, our team at Desert Flower Realty can help you buy or sell the perfect home in South Texas. Call us at 361-449-2051 or send an email to DesertFlowerRealty(at)DesertFlowerRealty(dotted)com.
