Few things in life are as thrilling as purchasing your first house. However, without the correct assistance and study, you may wind yourself making a costly error. Learn how to avoid these six home-buying snares. Then call Berkshire Hathaway HomeServices at (310) 373-0021 to talk with a knowledgeable realtor.
Imagine moving into your new house and discovering that your next-door neighbors have a dog who barks all day. While there are actions you can take, such as filing a noise complaint or contacting animal control, you’d probably prefer to know ahead of time. This is why it’s a good idea to speak with your possible future neighbors to learn more about the area where you’re considering relocating.
A new development
When purchasing a property, you may not be considering the long term. Consider not just how things are today, but also whether or not a new development is likely to rise. If you live in a well-established area, for example, you are unlikely to notice substantial changes. If you’re relocating to a new community, keep in mind that a new development might drastically alter the landscape.
More traffic than you realize
Of course, you drove around the area and the house, but at what hour did you do so? If you went on a Tuesday at 2:00 p.m., you might not have received a real sense of how parking, traffic, and other aspects of the city are. Is there a local school? Then your early commute can be a challenge. Before you make an offer on a house, practice driving to and from work.
You should expect some small faults if you acquire a property that is more than a decade old, such as a toilet that needs to be adjusted. You don’t want to be caught off guard by things like crumbling foundations or rusted pipes. Avoid these problems by dealing with the house inspector recommended by your real estate agent.
Becoming house poor
Just because the bank will lend you a particular amount of money doesn’t indicate you’ll need it. Take into account all expenditures, such as homeowner’s insurance, utilities, HOA fees, and so on.
You paid more for your home than necessary
There are a number of factors that may cause you to assume that the house you want is in high demand and that you should make a full-price offer. Do not proceed without first consulting your agent. The good news is that when you deal with Berkshire Hathaway HomeServices, we have the expertise and understanding to advise you on when and how to make an offer. To learn more, give us a call at (310) 373-0021.