4 most common mistakes buyers make

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The 4 most common mistakes buyers make

Buying a home is both an exciting and stressful process, often representing the beginning of a new chapter. For a young couple, this may be their first home – perfect for two. For some, this may be a growing family home, and for others, it may be the home they’ll spend the rest of their lives in. Each stage of life comes with a new set of factors to consider, which can sometimes complicate the process and introduce error. Here are 4 common mistakes that buyers make and how to avoid them.

Having all the feels
Searching for homes can sometimes be a tedious and irritating experience. It’s no surprise then, that finally finding one that seems just right is often accompanied by a rush of emotions, drawing eager buyers to make impulsive decisions. Walking through the home, you may envision living in it – playing with your kids in the backyard, having movie marathons in the cozy family room, or entertaining friends from the open-concept kitchen. However, underneath all these good qualities may be less desirable, possibly problematic ones. It’s important to remember the weight that comes with buying a home. Sit with the decision for a few days to make sure it’s the right one.

Timing is key
In an ever-changing market, timing is key. Home buyers often sit with their decision for too long – weighing all the pros and cons they can think of to ensure they make the right decision – and lose the opportunity on a home to someone else. It’s true- this scenario most often happens in a fast market, but sometimes we see this in slower markets where buyers can become overconfident and miss a great opportunity. While it’s important to make the right choice, overthinking minute details for too long can sometimes in fact work against you. (you know what they say, analysis paralysis!)

The home inspection
Having a home inspection is more important than buyers often realize, though it’s common for some to waive these procedures either to outbid a competing offer or avoid a lengthy close. The value of a home inspection cannot be emphasized enough. Once the inspection is conducted, a report is sent to you with any issues, ensuring the safety of the home prior to moving in and avoiding future problems by detecting them while they’re benign. This information can then be used to negotiate a lower selling price or coverage of any necessary repairs.

Going it alone
Enlisting the help of a trusted real estate agent is key to having a successful experience. While you can go it alone, we suggest you don’t. Real estate agents know the market better than anyone and may provide valuable insight to help you realize key qualities of a home that you do and don’t want. Working with a real estate agent that knows your needs can help steer you away from homes that won’t serve you and rather find something above and beyond your expectations.

The Florian Realty Team is committed to making your buying experience a positive one. The role we play in helping our clients succeed is held with the utmost importance and pride. If you’re currently looking to buy, visit our website or feel free to contact us at hello@florianrealtyteam.ca to get to know our team. We can’t wait to hear from you!