Just like the montage we often see in movies, getting the keys to your home is a milestone worthy of applause, confetti, and flashing lights. While keeping your eyes on the prize, remember that buying a home is a journey that involves making careful decisions so you get your money’s worth.
The excitement of moving in can inspire you to work harder, but at the same time, it might cause you to rush the process, which in turn may result in committing mistakes. Fret not as we’ve listed down five common homebuying mistakes that you need to steer clear of so you can lounge around the home of your dreams – worry-free.
#1. Letting your emotions rule
We’ve seen it in movies and TV shows – people arriving at a property and seeing it as a gleaming structure where they can move in ASAP. While it will be delightful to find your dream property instantly, you shouldn’t let your emotions make the final decision. There are other factors to be considered – from payment terms and unit quality, to location, security, and amenities.
In the same breath, don’t ignore your gut feel. If there’s something about the property that’s making you think twice, talk about it with the property specialist and keep it in mind before deciding.
#2. Not knowing what you can afford
When a property looks good on paper and in person, it’s a given to feel elated. Falling in love with a place is often followed by imaging your life there and how you can personalize your home. However, don’t forget to check if you can afford it.
According to Investopedia, “if you end up looking at places that are outside your price range, you’ll end up lusting after you can’t afford.” Compare prices and see if your funds are enough to cover the downpayment and monthly fees. Fortunately, there are payment terms you can look into. Century Properties offers flexible payment terms that’s attuned to your budget so you don’t have to worry about settling fees.
#3. Forgetting to check the neighborhood
It’s a big plus to have malls and transportation options within reach – but is it safe and are there schools nearby? Do your research and read the news covering the plans for the area you’re eyeing. Are there major developments in the pipeline? Is it prone to flooding? These are just some of the things you need to answer.
If you’re a fur parent, make sure that you’re choosing a pet-friendly development, too. Since you’re sharing the home with your fur babies, it’s important that they are welcome in the property as well. Century Properties welcomes furry friends into its communities as each of its residential projects is pet-friendly.
#4. Skipping unit inspection
Who doesn’t want to move in the soonest possible time? Before you haul your boxes and make the condo unit truly yours, make sure you schedule a thorough inspection and be ready with your punchlist. Check all areas of the home – down to the smallest features like sockets, light switches, and even faucets. You need to make sure the unit is being turned over in tip-top shape.
#5. Passing on a great property in the hopes of finding something better
Who knew this applies even to homes, too? One way or another, we’ve said this to ourselves – there might be something better along the way. Given that you’re spending your money, it’s only right to want the best you can afford. Doing this puts you in the risk of losing a unit to others, though. In an article on Business Insider, a broker shared, “buyers should trust their instincts, even if they find something they love right off the bat.” If it meets your requirements and you can afford the space, go for it. You might spend years looking for another property, only to realize that what you liked in the beginning is already the one.
Buying a home is a big decision to make. With so many factors to consider, discuss it with your property specialist. He or she can guide you in making a decision by going into detail about payment terms and other benefits the property offers. If you have questions about the location and other inquiries, they are equipped to give assistance, too.
Knowing what you need, what to look for, and what you can afford enough to help you arrive at a decision. Being on the market for a home seems challenging, but it can be fun and exciting, too. What would even be better is if you can take virtual tours of the properties you’re eyeing and have a chat with a property specialist about inquiries you may have using your phone or laptop. Century Properties makes homebuying easier for you by bringing property tours and inquiries online! Log on to www.century-properties.com to get started. Find the property for you and be on your way to achieving your own #condogoals.