So you’ve finally decided you’re going to get a house. Great! Have you thought about everything though? Even if you have your finances in order, there are plenty of things to consider before purchasing a home. Plenty of things most people will never tell, things you’ll only discover after making mistakes the first time round. Rather than letting you learn from your own mistakes, we’re going to give you some truly life-saving tips on things you should always avoid when buying your perfect house.
Don’t get too attached
You’re buying a house not a puppy, so don’t get emotionally attached to it before you’ve even given a bid. Purchasing a house purely based on your emotions alone is the worst thing you can do. Not only will you be sad to lose out a bidding war, but you might be tempted into making some poorly-judged financial decisions which can ruin your life. Go with your instincts not emotions. Recognize when it’s time to stop a bidding war and call it a day. Otherwise, you’ll end up paying extraordinary money for what might otherwise be an ordinary house.
Scout the area
A lot of times we get too attached with the idea of living in a certain area without knowing too much about it. Perhaps you’ve heard about it from family or friends, or even read great reviews on Google. Well guess what? That doesn’t have to mean anything. Whenever you have some free time on your hands drive by the house and do a regular commute from there to work. Make sure it isn’t too far away and ensure you like the area. A great thing you can do is to use PeopleFinders and conduct an address lookup on the property. They’ll do a public records search and give you detailed info on the address, including who lived there previously.
Bidding is an art form
Bidding isn’t just throwing money at the property until it’s somehow magically yours. It’s a science in and of itself. There are basically two rules, two figures you have to remember when bidding: what you think the house is worth and what you can actually afford. Start with a bid you think is reasonable and work your way up from there. That way, you won’t offend the seller and you leave yourself some headspace to the upper limit of your budget. Look at similar homes in the neighborhood and find out how much they are going for. Talk to the neighbors too, they’ll be more than willing to answer some of your questions, especially if it means they might be getting a new resident in their neighborhood.
The most important thing is to think logically and rationally. Wait for the perfect opportunity to strike. Come in with a reasonable bid at first and if you have to, stretch it to the outer edges of your limit. Know when to stop and quit though. Remember, there are hundreds of similar houses on the market.