Why make mistakes when you can avoid them? Ikimo9 gives you some real estate advice and explains what the costly and impacting mistakes are that you can avoid when buying real estate.
Rushing
Buying a property is an important and joyful act: it is the perception of a new life. However, watch out for excess optimism which can lead to haste. The purchase of an apartment or a house must be a thoughtful and rational purchase and not a favorite. Take the time to think, research and compare the different options available to you. Similarly, when signing, do not get carried away by a sense of urgency and take the time to choose your future accommodation. For the home buying mistakes this is important now.
Neglecting the analysis phase
Have you come across the apartment of your dreams? Awesome. However, do not forget to analyze everything before buying: Have you learned about co-ownership (a neighbor’s problem can quickly turn into hell)? The neighborhood? The constructions to come? Become a real estate detective. Do not neglect any clue or any witness. Once this investigative work is done, you can sign your sales contract with peace of mind.
Do not define beforehand the imperative criteria of your investment
When making a property investment it is essential to know what you want and what you don’t want. Define beforehand the most important criteria for you (area, parking, elevator, exhibition) and stick to it. So you will not make the mistake of forgetting your main criteria and ending up with a property that does not suit you.
Buying in the wrong place
When it comes to real estate investment there is a golden rule: location. Before choosing the location of your future accommodation, find out about the areas where employment is growing, they will undoubtedly be dynamic in the coming years. Prefer a location close to schools, shops and transportation. These are elements that your future tenants or buyers will look for.
Paying too much
Real estate is a fluctuating market. It is therefore difficult to estimate the price of a good at a time “M” and very often we overvalue a good. To avoid this error ask about the state of the market on the net. Also inquire about the prices of similar homes in the area in recent months. To compare the houses for sale with yours, take into account criteria such as the area, the size of the land, the presence of a garage or the condition of the property. Also be aware of the length of time these properties have been on sale.
Conclusion
If they stay on the market for a long time, it is a sign that the market is slow or that the selling price is too high. Once you know the market well you can make an offer. Be careful, however, never to accept the price displayed. Sellers always put a price that is higher than what they really want. So never be afraid to negotiate.
