Home Buying Mistakes – Yes They Can Be Prevented
Lack of knowledge is something that many homebuyers have and sadly, this costs homebuyers thousands of dollars during the lifetime of their homes mortgage.
In part four, of this four part series, were going to cover some of the most common examples of homebuyer lack of knowledge to help future homebuyers in Orange County and the rest of the United States avoid making these common mistakes.
Some home buyers think that trash talking is an effective technique to drive down price when it comes to purchasing other items like a boat, but when it comes to purchasing a house, trash talking never works. Especially when talking down repairs that the current homeowner made to their home, especially repairs that they might really love.
The key to success when purchasing a home is to be respectful of the homeowners domain while at the same time keeping an eye out for possible improvements that need to be made and when those improvements are spotted, talk positively about the overall home without pointing out the “blighted” area of the home and potentially making the homeowners mad at the same time. Remember, in this market, sellers are in charge and they probably want someone who will treasure their home as much as they have. As a result, you will likely be out of the bidding if a similarly good offer is presented.
Not Paying For Professional Advice
When you’re buying a home in Orange County always walk into the deal being prepared to pay for professional advice from Real Estate Attorneys, Home Inspectors and other professionals who can save the homeowner thousands of dollars and the hassle of buying a home that’s badly in need of repair.
Not Being Ready For A Rainy Day
Once the home has been purchased another common mistake that home buyers make is not establishing a reserve cash fund for when problems occur like needing to replace a water heater or buying a new stove.
Homebuyers should always have a reserve fund established before purchasing a home and resist the temptation to drain that reserve because, it will come in handy someday, especially during the first few years that they live in their home when there are unexpected expenses.
To learn more about the most common mistakes that homebuyers make, contact Fred Sed & Associates today by calling (949) 272-0125.