You might make the common mistakes people make during the house buying process. Know the mistakes to avoid them.
There can be no denying that buying a home is an exciting affair because it is so. But, if you get carried away by the excitement and forget to guard yourself against committing a few mistakes, you have no other choice but to repent later.
The reason is understandable. Purchasing a home is a complex affair. As such, many homebuyers make some common mistakes.
If you are a newbie, you are likely to get confused while encountering stuff, like unfamiliar terminologies or complex logistics. As a result, you can make the wrong move that will take a toll to make you repent of your wrongdoings.
However, you can smoothly move through the complicated process after gaining experience.
So, get yourself acquainted with the common mistakes that are as follows:
Avoid rushing for a property. It is a mistake many people make while looking for a home to buy.
Remember, it is not enough to look at some properties that come your way and buy the one that most appeals to you. Doing so is a mistake because you are likely to miss out on more suitable homes.
As you will spend many years of your life in the property you buy, ensure that you examine a broad range of properties to zero on the best property that will fulfil your needs.
There are more aspects to consider in addition to your needs. For example, you might not know if there are any hidden costs. And if there are such costs, you are likely to see the eventual prices overshooting your budget. So, get yourself acquainted with the hidden fees if any.
Also, service and maintenance costs vary from locality to locality. Suppose you end up purchasing a house at a locality where such costs are high, then you will have to spend more, and that could be a bad fit for you.
Therefore, it will help if you:
Visit as many homes as you can
Make a list of your likes and dislikes
Revisit the home that you think can be the best fit for you
Move slowly and thoughtfully
Fail to Research
You might get tempted to finalize a home to buy based on the real estate listings on popular websites. Avoid it, as that is a mistake.
You perhaps do not know that property websites know very little about stuff, such as the local market conditions, the environment of the residential locality, the history of the property, and the attitude of the neighbours. And, these factors matter a lot in whether or not you will invest in the right property.
Therefore, do not rely on the information on the property websites alone. Instead, do comprehensive research to find the essential information about the properties you shortlist to purchase.
Undermining Property Inspection
Property inspection is essential. So, do not undermine it, as that is a common mistake that many people make.
Inspecting a property before buying can be a tedious process, but it is necessary to justify the time and money you will spend on the entire property buying process.
Therefore, you should avail of the services of a home inspector, who will detect the major home defects, such as weak walls, leaky roofs, faulty electrical wiring and termite infestations.
If the home you buy has such defects, you need to spend money repairing them later on, which will also cause frustration.
But, you should ensure that you hire a qualified and experienced home inspector to do the job for you.
It is a good idea to figure out if the home you want to buy needs any extra work so that you can decide whether or not to buy.
Finalizing the Wrong House
When you set out to buy a house in the United Arab Emirates, you will find immense options. So, you might like the property because it looks perfect but only to discover later on that it is the wrong one. For example, suppose you purchased a villa with an impressive hall and grand stairs. But, after you move in with your family having a two-year-old kid, you will realize that you need to keep an eye on your kid when he climbs on the stairs.
Consider another example. You might purchase an open floor plan apartment as that appealed to you during your house search. But, you will realize after you move in that it has become confusing to decide where to place the furniture.
Therefore, you should finalize the house that will work for you. It will help you avoid unnecessary hassles after you move in.
Not Seeking Professional Advice
With the predominance of many online sources of information, you might tend to believe that there is no need to see advice from an experienced professional. But, again, that is a mistake that you should avoid.
You should seek the advice of an experienced professional before you begin the home-buying process.
Therefore, you should hire a real estate agent who will guide you through the entire property buying process. In addition, an agent can give you valuable insights into the neighbourhoods you are looking at.
But, ensure that you select an experienced real estate agent.
Not Getting Things in Writing
Ensure that you get everything in writing during the house buying process. If you rely on verbal terms, you might encounter hassles later on.
It can so happen that real estate agents in Dubai verbally promise you a lot before buying but after buying, you find that the seller does not offer those things.
Likewise, it can so happen that you buy an apartment at a flexible payment plan, but later, you might find that you also have to buy the parking space to get the apartment transferred to your name.
So, you should get everything in writing to avoid such hassles.
Not Making an Informed Offer
You might tend to find your emotions dictating the offer. It is a mistake that many people makes. So, avoid it, and make an offer if you are serious about buying a property. And, ensure that your decision is based on logic, rather than how beautiful the house is in your eyes.
Yes, the house buying process can be exciting. But the excitement will continue after you complete the purchase only if you avoid the common mistake people make during the purchasing process.