Simple Factors that Home Buyers Neglect
By Sadiya Anjum
During the home buying process, there are simple factors people tend to overlook. Some are obvious mistakes and some are just overlooked because they seem too simple. Taking care of these can save you trouble and ensure that the whole process goes smoothly. It pays to be smart, prepared and in control of the situation. Here are some of these factors which you must take into account:
Taking adequate time before settling
When home hunting, people tend to either settle too quickly or wait too long. Of course, there is no rule which says wait for 30 days or look at 23 homes before settling for one, but you need to be smart about the process. When you find a good home, research its details as thoroughly as possible before making an offer. Once the contract is drawn up, it is going to be hard to get out of it even if you found another great home. On the contrary, you wait too long and you get stuck in a rut, land up settling for the not-so-perfect home or suffer higher interest rates.
Whose agent is he?
No representation can be a huge problem unless you have been in the game for a while. But a more common assumption that home buyers make is that the listing agent they contacted is working for them. A listing agent who you contact for a particular property is most likely to be completely loyal to the seller irrespective of how friendly he is. Find a buyer’s agent who will represent you exclusively and watch out for your interests. Make sure that he has experience in you area and the kind of home you are looking to buy.
When shopping for homes, you are obviously looking at features that are suitable for your needs. It is possible for you to fall completely in love with a home at first glance. It is important that you keep your emotions at check; firstly if the deal clicks you do not want the seller taking advantage of your obvious love for the home and if it does not work out you do not want to walk away severely disappointed. On the contrary, every property may have its own flaws. See how you can fix the problem instead of getting completely put off by one aspect and letting go of a good opportunity.
Viewing the property just once will not do the trick. Visiting it once more will show you certain aspects that you may have definitely missed before. Apart from the home itself, you need to make sure that the neighborhood is appropriate by your standards. If you land up living in a bad neighborhood, it is going to affect your stay in that home as well as kill its resale value. Visiting neighborhoods at different times, for instance after dark/ at peak hours/ over the weekends, will give you a better idea of how the area functions and what are the possible flaws associated with it.
The final walk-through
Just before the closing, take time to make a final walk-through. Before you sign the final contract and take over the keys, you need to make sure that all is well. You do not want to find out that the seller damaged the floor when moving out furniture, or took away the magnificent mirror in the living room which was to be sold along with the home. Make sure you take a friend or someone who is not going to live in that house with you. This way you can at least count on a fairly objective viewpoint to spot the problems that you may have missed.
You may not realize how easy it is to forget this aspect in the confusion and excitement of moving. This is not a major problem and even if you forget it can be easily remedied. But why would you want to endure days of discomfort without access to your utilities? So make sure you call the respective companies and inform them about your closing day and when you will be moving in.
These are some of the most common factors that home buyers tend to neglect. Keep these in mind and you will have a fairly safe home buying experience.
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