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Are You Buying A House In Wasaga Beach? Avoid These Top 8 House Hunting Mistakes

Keep emotions in check and don’t let your heart rule your head when buying a house in Wasaga Beach

There is a home for everyone with house prices  ranging from less than $200,000 to a million Dollars plus. Be careful you don’t fall prey to one of these mistakes highlighted by Amy Fontinelle at Investopedia:

Mistake 1: Falling in love with a house you can’t afford

Buyers need to set themselves a limit to what they will spend on a house, be it $500,000 or less than $200,000. Viewing homes above that limit can lead to dissatisfaction with the eventual choice and a feeling of settling for 2nd best.

Further it is best to start viewing homes at the lower end on the price range and work up.

Mistake 2: Thinking that a particular house is the only one that will suit you

This is just not true. You will find more than one suitable house unless emotions completely take over and falling in love with one home blinds you to all other possibilities.

Mistake 3: Being so desperate to become a homeowner that you buy a place that doesn’t suit you

House hunting can take time. Don’t buy anything  just because you cannot find the ideal home. Fear of missing out in a down market or in an up market, or in a variety of other “losing out” scenarios, can cause buyers to dive into a buying or not buying decision which may not be in their best interest.You may end up selling a lot sooner than you planned and incurring all the selling costs.

Mistake 4: Overlooking important flaws in the structure, appearance or location of the house

You may be willing to do this because of points 1 to 3. Think carefully as this could be a very costly mistake.

Mistake 5: Thinking you’re a handyman when you’re not

Fixer uppers take time, money and skill. Do you have all 3?

Mistake 6: Putting in an offer before carefully considering all the pros and cons of the property

Don’t be pressurized by the Realtor or any outside influences. Take the time to consider the decision and complete all the necessary research.

Mistake 7: Being too slow to pull the trigger

Following on from point 6. It’s easy to suffer “paralysis through analysis.”

Mistake 8: Offering more than a house is worth

Enough said

This entry was posted on Monday, November 23rd, 2009 at 6:25 am and is filed under The World Of Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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