Purchasing a house is a milestone in anyone’s life. Understandably— it is one of the biggest financial decisions you’ll make. As an experienced realtor, we have witnessed several common mistakes that home buyers often make. We hope this article helps you sidestep potential pitfalls and make discerning decisions during your journey to acquiring the home of your dreams.
1. Failing to Hire an Experienced Real Estate Agency
For first time home buyers, navigating the various intricacies that the real estate sector presents can frequently prove to be a difficult task. Hiring an experienced realtor is crucial to ensure you have a knowledgeable professional representing your interests. With their wealth of market knowledge and extensive property listings, as well as strong negotiating skills, realtors are well-positioned to assist you in obtaining the most favorable terms possible. Seeking solo success in navigating the process would be folly without the wisdom that expert guidance can provide.
Don’t make the mistake of trying to navigate the process alone without the guidance of an experienced real estate agent.
2. Neglecting Due Diligence
Before committing to purchase a home, it is imperative that one performs exhaustive due diligence to properly vet all pertinent aspects. This includes researching the neighborhood, assessing property values, checking the condition of the house, and understanding any potential issues or limitations. Failing to do so may lead to unexpected surprises or expenses down the road. Hire a professional home inspector to thoroughly evaluate the property, and consider requesting a seller’s disclosure to gain further insight into the home’s history.
3. Letting Emotions Override Logic
We understand buying a home is a deeply personal journey, and it is natural for one’s affections to become engaged by a property based on the emotions it stirs within. While balancing sentiment with sensible deliberation is crucial, you must evaluate the property objectively, considering factors such as location, resale potential, and long-term suitability.
4. Not Considering Resale Potential
While you search for a home that suits your needs now, think on its future market worth. Times shift and you might have to sell the home one day. Properties in prime location with top-notch security and sought-after areas sell better. Choose a house with strong resale potential—it’s a smart move to shield your cash spent.
5. Making a Lowball Offer
Making a lowball offer on a property is a rookie mistake that many seasoned and first-time homebuyers make. It offends home sellers, starting negotiations off on the wrong foot and sometimes even ending them altogether. Lowball offers are rarely accepted and do not provide much benefit to either party.
Real estate agents frequently collaborate extensively with homeowners to carefully establish listing prices for properties by comprehensively analyzing nearby market conditions, the conditions and prices of similar neighboring homes, and the particular state of each home.
While considering making an offer on a house, it is wise to attentively consider your real estate agent’s advice and ensure that any price proposed is reasonable and equitable for all parties involved. Being respectful and considering the true value of a house in your offers makes them more likely to be accepted.
6. Skipping a Final Walkthrough
Before closing the deal, it’s crucial to schedule a final walkthrough of the property. By verifying that all repairs and alterations have been carried out agreeably and leaving the home as promised, you can be confident the work was finished as comprehensively understood. Skipping this step could leave you with unexpected surprises or issues that could have been addressed before closing. It is imperative that you thoroughly examine the property to confirm that everything remains in its proper place and condition.
Avoiding these common mistakes can help you have a smooth and successful home buying experience. Working with AA Kenya Realty can help you navigate these challenges and guide you towards finding your dream home with confidence!
Call us today with any questions or concerns.