Buy Right: the 5 Biggest Mistakes New Home Buyers Make

by Guest Author on March 18, 2013

Almost anyone who has made a major purchase has experienced what is commonly known as “buyer’s remorse.” This is what happens when you discover that the newness of the purchase has worn off, but the payments remain. You never want to have buyer’s remorse with a house, so buy smart and buy right. Below are five biggest mistakes new home buyers make when purchasing their first home.

1. Failing to seek professional guidance

There is a reason why home buyers use a REALTOR. It is the same reason you would have your mechanic look at a used car before you bought it. A REALTOR can provide you with a comparative market analysis which will help you select the best house in your price range and can spot problems you might not notice or think of.

2. Buying a home for its potential

Simply stated, unless your hobby is home repair, buy the house you want, not the one you can make into the house you want. If the basement is unfinished when you buy the house, there is a good chance it will be unfinished several years later. People just naturally tend to procrastinate, particularly when it comes to doing extra work on the home. So buy the home you want, not the one you wan to fix up.

3. Buying a house to get your kids in a “better school”

If your kids have good friends and are happy where they are, they will probably learn more if they stay in the same school. Losing close friends, having to form new friendships, and having to adjust to a new routine and a new school is extremely stressful, and in the end will probably adversely affect your child’s ability to learn.

4. Buying the first nice house you see and like

There are a whole lot of fish in the sea, and a whole lot of nice homes in Utah on the market. If what you want isn’t out there right now, it may be in a week or a month. Exercising a little patience may be one of the simplest and easiest strategies you can use to avoid buying the wrong house.

5. Buying a house you really can’t afford

Life is stressful enough without adding the constant, nagging fear that you won’t be able to make you house payments. In the worst case, you may lose the house and severely damage your credit rating. Even in the best case, the added stresses of being financially underwater can adversely impact both your work and family relationships, and may result in health problems.

About the Author: This article was written by Dixie Somers. Dixie is a freelance writer and passionate blogger who likes writes often for the home and family niches.

One thing is for sure, if you are looking for a home, it’s important to have your priorities straight!  Make sure you have a home buying checklist that you can discuss with your real estate agent.  And, if you are not sure what real estate agent to engage, you can always start by meeting anonymously and interviewing them online.

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