Emotional Mistakes To Avoid While Buying A House

While buying a house, make it a point to rely on facts and facts alone. Don't let emotions rule because emotions evolve while facts remain the same. Here are three mistakes that your emotions may lead you to:

Ignoring the Big Picture

Many people make the mistake of focusing on a particular aspect or feature of the house at the expense of others. For example, if you want a hardwood floor, you may focus on it to the extent that you ignore other important factors or features of the house. Do you want a hardwood floor in a house that is a two-hour commute from your work, or would you prefer a concrete floor that is 45 minutes from your office?

Looking for important features isn't wrong; people do have priorities, but you shouldn't fixate on one feature at the expense of others. Looking at the big picture will help you make the right decision. You don't want to buy a big house (after fixating on price) that is too far from your aging parents (whom you love to visit frequently) or too near a noisy factory that operates 24/7.

Ignoring the Total Expenses

Be careful to avoid starting the process of buying a house that you can't afford to pay for or own.  When it comes to buying a house, the purchase price is the biggest cost, but it isn't the only one. Add up everything, including survey costs, property taxes, and closing costs, among others.

Many people know enough to calculate the total cost of buying a house, but not the cost of ownership. Unfortunately, ignoring ownership costs is dangerous since they can be high enough to eat into your mortgage money and jeopardize your property. The house may need to be furnished, the lawn will need to be maintained, and you may have to ship your belongings from your current home. Again, add up everything to confirm you are capable of buying and owning the home.

Ignoring Professional Advice

There are several sources of professional advice when buying a home, including an estate agent and a house inspector. The agent will be with you from the beginning to the end of the process, while the inspector may only have a brief part to play, but both of their inputs are important. There is no reason you should pay for professional input and then ignore it.

For example, if you have fallen in love with a house, listen to your agent's advice if they say the house is overpriced, and don't dismiss the inspector's concerns as "minor" (unless they are really minor).

Contact a real estate agent to find new homes for sale in your area.


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