Buying a home is like a rite of passage that many adults experience when they reach financial stability. With a house they can call their own, they can feel like they have finally achieved a big milestone in their life. It’s also proof that they are out of their parent’s shadows.
However, finding a good house is not always easy. The process itself can take anywhere from a few weeks to a few months, especially if you’re looking for specific details that you want your future home to have. In addition to that, you will have to apply for a mortgage with your chosen lending institution.
This means that you can’t rush the decision because you can get stuck with a home that you don’t particularly enjoy living in. That can leave you with lots of regret in the long run, which is why it’s better to take your time in the beginning.
While there is no rule book that clearly defines the steps you must take in the homebuying process, you can always learn from the experiences of those who came before you. It’s easy to make mistakes when you don’t have a clue, so here are three don’ts that you should remember while house hunting.
1. Don’t Fall in Love with a House You Can’t Afford
There are a lot of houses that are beyond your wildest imaginations because they have everything you can ever want in a home. But that in itself should already make you wonder if you can afford that kind of house because the chances are that it won’t fit your budget.
When you fall in love with a house that you can’t afford, it can make all your other options seem lacking because they won’t even come close to what that first one made you feel. To nip this dilemma in the bud, you can do yourself a favor by not even checking the houses outside your price range.
You can find many affordable house and land packages if you look hard enough, so take your time. An amazing house won’t benefit you if it drains your account or leads you to bankruptcy. Homeownership shouldn’t come at the cost of your financial freedom, so you have to make wise decisions.
2. Don’t Buy the First House You See
The worst thing you can do in this entire house hunting process is to not shop around because you need good options. If you buy the first house you see, then you won’t know what you’re missing out on. There might be a similar house that is cheaper or more affordable, but you won’t know because you didn’t try.
House hunting can be gruesome because you would have to go through the process over and over again, but not even trying can leave you with regrets. If you already put the down payment on one house, but you came across another one that you liked more, then you might have a hard time getting a refund.
You need to have at least three to five initial options so that you can compare them with each other as well as weigh the pros and cons. This part of the process can make you a more responsible homeowner because you took your time in deciding a big part of your future; rather than going with the first one made available to you because you couldn’t be bothered.
3. Don’t Skip the Necessary Inspection
A tour of the entire house allows you to see what’s in front of you. This can include the newly waxed flooring or the freshly painted walls that hide all the old imperfections. But while a house can be beautiful on the surface level, you won’t know what lies beyond the walls.
That’s why it’s important to have the house inspected before signing any papers. Of course, you won’t need to have all the houses you’re eyeing inspected because that can be expensive. But you have to make sure to conduct a thorough inspection of the house you set your heart on.
Doing so can assure you that you will get what you pay for. An inspection can show you if there are any foundational issues, pest problems, or structural damage to the house. It can also shed light on the damages to the pipework or electrical wiring systems in place.
Hunting down your future house will take a lot of work, but it can also be a great one-of-a-kind experience. This is because you won’t look for a new house every year, unless, of course, if you’re relocating to a new city or country. So, take your time and don’t rush the house-hunting process.