Finding the right place, getting a loan and moving in can be a very emotionally draining experience for property buyers. For many Columbus house buyers, purchasing a first home is the biggest investment ever. The emotions involved in buying something so personal and expensive can often blur our business judgment.
Many Columbus cash house buyers do little research, if any, before investing in their nest egg. It is important to be as well informed as possible before purchasing your first home. The following are tips that can help you avoid common mistakes in home buying.
Inspect, inspect and inspect
If you want to buy house fast, peruse the inspection report thoroughly. Ensure that the report was prepared by a professional body. For condo purchases, scrutinize the By-Laws, CC&Rs and Association Fees. Do not take anything for granted. Inspect everything!
Imagine the Property Vacant
Your decorations and furnishings will be the ones to fill the new residence. Do not be influenced by beautiful furniture; it will leave with the owner.
Lifestyle + Income = Mortgage Payment
Sit with your Columbus real estate agent and candidly discuss your living expenses and income level. Take into consideration future developments; children, amenities, add-ons and fix ups. Though your dream home is worth a sacrifice, you should not mortgage your entire future.
View Several Homes
View at least 8-10 Columbus properties. Do not move too slowly, but also don’t settle on the first property you view. With help from your agent, you need to see several properties to get a good idea of the home market. All the effort will be worth it when you find the right property.
Utilize Your Team
By finding the right real estate agent, you will have a whole team at your disposal. Make use of your agent, title rep and lender. All of them need to work together for your benefit. Consider all the options before signing up.
Check out all expenses and costs before signing. This includes taxes, utilities, home owner dues, maintenance and insurance if applicable. Make sure that all utilities (electricity, water and gas) are on during your inspection so that you can confirm everything is in working order. Ask many questions and pay attention to detail.
Do a Final Inspection
After all furnishings are moved, visit the Columbus real estate property to be sure that there are no surprises. Confirm that the property has been left exactly as agreed on in the contract. Some things that may have been identified in a final inspection are usually unintentionally overlooked.
Plan for Flexibility
Closing dates can always be adjusted. Have a back-up plan and allow for contingencies. If you or the seller needs some more time to complete the final arrangements, do not let these delays frustrate or upset you. Such circumstances are common in real estate transactions.
Have Everything in Writing
All discussions and promises should be in writing. Don’t believe any assurances or make any assumptions. Even the best intentions are prone to misinterpretation. Have your agent keep all discussions in writing and ensure the seller gives you a written approval for all agreements.
Loyalty Breeds Loyalty
Be honest, up front and open with your team. Disloyalty and hard feelings will cause you delays, headaches and may even lead to losing the sale. Take time to choose the right team from the onset and you will make your first Columbus home purchase a memorable and pleasing experience.
Stephan is a freelance writer, who often writes about buy house fast.