Top 10 housing mistakes to avoid (REAL ESTATE) Broker Review......#91

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So, we look at real estate article written by someone and see if we agree or disagree

Thoughts

1. Not finding a lender first. I agree. Why go looking at homes if you aren’t pre-approved?

2. Making the house fit. So, roughly translated to you get beat down and don’t find what you want so you settle for something. Is this a mistake? Yes. I do think that it’s possible to perhaps wait and save more, thereby getting a better house.

3. Overlooking location issues. So, buying a home on a busy street because it costs less would be an example. I don’t know that this is a mistake as long as you are made aware of the issue.

4. Judging a book by its cover. The idea here is that you give up on a house that doesn’t look aesthetically pleasing so you pass up an opportunity. I agree with this. Especially with the house we got under contract in University City.

5. Not budgeting for home improvements. I kinda agree with this one. I’ve seen people buy houses at the top of their budget and they know the house is going to need work but somehow they never have the money so the house falls further and further into disrepair.

6. Waiving inspections. I tend to agree with this. Sometimes, you miss the most obvious things. That wouldn’t happen if you had an inspection. In this market, you could ask for an inspection and the seller might go with a different offer. But that’s a risk that you might be willing to take if the inspection provides peace of mind.

7. Buying a home for today, not tomorrow. I tend to disagree with this philosophy. We don’t know what will happen in the future. You may be single when you buy your home, but get married later for instance. Your budget may not allow you to get more house at a particular time. Best to buy something and get out of the rent cycle and then see what you really need versus want.

8. Not checking out the neighborhood. I agree with this. However, I’m kind of shocked at how many people don’t really check out the neighborhood they are moving into before they move into it.

9. Not talking to the neighbors I tend to disagree with this one and I’ll tell you why. I once had a seller that didn’t get along with their neighbor, who happened to be a real estate agent. When I listed the house, she got mad. As soon as showings started, she would make it a point to walk over to the fence to talk to each potential buyer and always seem to say negative things about the house on purpose. We even had it under contract and during the inspection period the lady went out of her way to spook the buyers. There’s always a chance of racism as well. This is why I don’t recommend talking to the neighbors…you never know from what position they are speaking. Are they perhaps TRYING to get the house to sell for less or to their type of person?

10. Bringing your entire family to a showing I kind of agree with this. Let’s say you have a husband and wife looking for a home. Do both sets of parents have to tag along at each showing when there could be 20 or more before an offer gets accepted? This isn’t to say parents don’t mean well. Parents, other family members can really influence a deal to the point where they ruin it for the buyer. It’s a tough thing though to not invite your family…especially when they are rooting for you.

Sources:

https://finance.yahoo.com/news/top-10-house-hunting-mistakes-120001418.html

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