McLeod and Kofoed
1 Coronation Avenue Pottsville Beach
02 6676 2997
02 6676 2044Contact us
There are not too many people that have a lot of experience in buying homes unless they are in the real estate business as a profession. As with any new adventure mistakes can easily be made. Such is the case with new home buyers. By knowing what these are they can easily be avoided.
Not doing your homework
The first important step to take once you have decided to buy a new home is to do your research. It is not just enough to know that the price range that you must remain in. It is important that you check out the area you are most interested in buying in and determining the range of pricing within this area.
There are many things that are going to be important to you in regards to the area that you want to move to. All of these need to be carefully researched to make sure that they are going to meet your needs. Once you have gathered all of the pertinent information you are in a much better position to make the right decisions.
There are several different ways that you can go about gathering your research. There may even be options for you to buy pre-prepared reports based on the information that you are looking for.
It is really important that you don’t rush into your home buying, and that you give yourself enough time to gather all of the information that you need to help you make your decision.
Keeping your feelings out of it
It can become easy to let your heart rule your mind when it comes to choosing your new home. Your finances are going to play a big role in this as well. No doubt you are very nervous about this new adventure, but at the same time excited and full of anticipation.
It is important to keep your emotions in check so that you don’t end up paying more for the new house than what it is really worth, simply because based on your emotions you want to have it.
You would do well to approach your home buying like a business person. If you feel that you cannot detach yourself from your emotions, think about taking someone with you whose opinion you value that can help you stay on track.
Know who you are relying on
There will be lots of people coming forward to give you advice that is well intentioned. These may be family and friends who are also going to be emotionally attached to your home buying experience. Then there are some who feel that they know everything there is to know about home buying or property, and may mislead you with the wrong information. The important thing to remember here is to know the credibility of the person whose information you are relying on.
Stay within your financial boundaries
Plan ahead of time of what your home buying budget is going to be. Check with your bank so that they can pre-qualify you, so that you know exactly what funds you have available. It can be disappointing to set your heart on a home that is out of your price range.
While you might not be able to get exactly what you have dreamt about for your first home, remember that this is a starting point. You want to be able to enjoy this new residence without being under financial pressures.
Moving ahead with your decision
Once you have done your research and know you have your finances in place, you may end up getting cold feet because this is a new experience for you. Make sure that you feel confident in your finances and your research. Then ask yourself if there’s any reason you are afraid to go ahead and make the purchase. You will then have to deal with this so that you can go ahead and buy it with confidence.