As we welcome the new year, we list down some of the worst but most common mistakes we make in buying your selling your home:
Not making enhancements to showcase your home better
If you are selling your home you should think of how house hunters will be seeing your property. Minor enhancements are necessary and you can hire a professional to help you with this. You can have your furniture re-arrange so it will look more pleasing to the buyers. Stage your home right and you can increase its potential in the real estate market.
Sky high selling price
You need to do your research well so you can put the right tag price on your home. You have to compare it with nearby homes and see how you can price your home. You can have a sale price just in the middle of the going on prices in your neighborhood rather that start high and bring it down after which might put an impression on buyers that something is wrong with the property.
Buying what you want
There is a big difference with what you want and what you need. If you buy according to your wants, then there is something wrong and you may be wasting a good portion of your hard earned money. Shop for a house which will answer your needs. Make a list of your needs that you want to see in your new home and look for features that will address them as you shop around for a real estate property.
Visiting the property only once
If you are buying a home, you may want to schedule multiple visits to the property. The community it is in may be different depending on the time and day of your visit. It is also good to think things carefully and not falling in love at first sight.
Not having a realistic budget
If a bank pre-qualifies you for a few hundred thousand dollars, it does not necessarily mean that you can really afford to pay it. Do the math and see if how much you can afford for amortization for a new home. Make sure that you will be comfortable taking into account your monthly spending and any potential emergency costs.