BUY PROPERTY – NO FEAR!
Overcomes these most common property buying fear.
Many people who would like to own homes have fears that prevent them from buying. And rightfully so, as buying a home is usually the largest purchase a person ever makes. If you’re one of these people who is hesitant, take heart – there are simple steps you can take to overcome your fears and become confident that you will make a sound purchase. Here are the top five reasons you may be holding off on purchasing a home and how to overcome these hurdles.
1) Property Drop Value –
Homes can decline in value, even without a disaster. Neighborhoods can gradually decline, newly-built homes can make older neighborhoods less attractive, or an unpleasant development (prison, landfill, highway, etc.) could be built nearby. A poor economy can also keep home values down. Even savvy home buyers can’t always predict what will happen to home prices. But you can take precautions, like buying in a low-crime area where the homes are well-kept, primarily owner-occupied and with high-quality schools, educational institutions, medical facilities, shopping. Besides, it is important to keep up with developing trends in the region in the area you want to buy.
2) Overwhelming Maintenance Costs –
All homes have upkeep costs, and many homes have very large maintenance bills. If you become a homeowner, you won’t be able to avoid these costs. However, there are numerous things you can do to mitigate and prepare for them:
- Buy a home that has been well-maintained.
- Buy a home that has recently had major components upgraded or replaced (e.g., new roof, new water heater, new plumbing, new electrical)
- Buy a new home (though new homes sometimes have undiscovered defects).
- Regularly maintain your home to prevent small problems from becoming major repairs.
Go into the purchase with a generous emergency fund set aside for home maintenance and add to that fund every month. Also, to avoid buying a money pit, you should also have a home inspection before you buy.
3) Buyer’s Remorse –
Are you concerned about buying the wrong house? Maybe it’s because you don’t know what you want. Fortunately, you can solve that problem. Make a wish list that includes features your home must have, as well as features that you’d like it to have but aren’t necessary. Look at many houses to see what’s available in your price range. If you find a home you think you want to buy, sleep on your decision before making an offer. And don’t exceed your budget, as you will quickly regret buying any house that strains your finances. Also, don’t be afraid to walk away from a house – new homes are always coming on the market.
Procrastination is no solution; controlled action is the way to success.
We will be very happy to help you and assist you in your search for a home. Feel free mail us.