Mistakes to avoid when buying your dream home:Real Estate
Have you ever imagined how your dream house would look like, well furnished with indoor pools, gym house, cinema room, an underground resort center and lot more but you ended up not getting the exact one you wanted, which made you lose interest in purchasing your dream home.
You keep wondering where you made the mistake that cost you your abode, was it your financial status, your wild imagination, or were your emotions running high.
Today, we wish to educate you on best ways to avoid making mistakes when you are about to buy a house.
Common Mistakes to Avoid When Purchasing Your Dream House
1 NOT KNOWING YOUR FINANCIAL STATUS
This is the prominent mistake house seekers usually make, most times you might be carried away by the beauty of your dream house and go ahead with the purchase, disregarding the words of your financial advisor if you have one.
you could end up bankrupt and wouldn’t be able to carter for yourself and your family even while living in your dream house.
- Have a financial advisor when it’s time to purchase your residence
- if you notice you could end up bankrupt since virtually all your income would be going for the purchase of the house, the best step is to use installmental method of payment to get your dream abode.
You could gain extra income by going into a short term investment plan with low risk involve.
2 Ignoring the Environment of the dream house
This mistake is a subtle one as you could make it without realizing you ever did. it is important to know the environment very well. This must be done before the purchase because After purchase there is no going back.
Environmental factors to consider before buying a house.
- Is it in an arable or waterlogged area? – most people in ignoring the environment gets frequent visitation from flood during the raining season because they failed to realize that their new house is in a waterlogged area.
- Is it close to a forest/would I be getting visitation from dangerous creepy animals like snakes? etc
- Is it close to a petrol station- this is very important because it won’t be nice for you driving a quarter-mile all because you want to petrol for your cars and diesel for your standard generator sets.
- How strong is the telecom network coverage in this area- with the global world becoming and emerging as a one-world connected by the internet hence 80% of all activities are done online, it would be very frustrating for you to have to walk out of your house in search of an internet connection?
- How far is it to my work and my children school- this is the most important question you should ask for your work is the source of your income and your children are your future. purchasing your dream house shouldn’t come at the cost of your work or your children schooling if you have them.
Solution To Environmental Consideration
Thoroughly ask your self the above questions when purchasing your house.
3 NOT HAVING YOUR OWN AGENT
Agents are like middlemen, they stand in the gap between the buyer and the seller and will always want both parties to leave the negotiation smiling.
They are properly called real estate agents or brokers, directly going to a seller isn’t a good idea, he or she could bill you beyond the value of the house, but every agent through eco can tell the value which every household hence having an agent is of necessity.
Read Also: Why you need an agent in real estate?
Make sure you become a friend with the agent so he can negotiate with the buyer in your favor, the agent must be one who has been in the game for long and has gained experience over time.
4 NOT HAVING THE CERTIFICATE OF OCCUPANCY (C OF O).
Certificate of occupancy is very important to a land owner. It shows in clarity who owns a land and can be tendered in the law court in case of land dispute or to get certain dividends from the government.
The C of O also shows if the land is on government property or not. You can avoid such properties as it is subject to government mercy. When government intends to expand roads or other projects, they can demolish houses on such lands and send you packing.
Always ask for the availability of the C of O before purchase and ask that the C of O should be presented in a written document from the buyer duly signed by the office of the minister for housing in the state you are buying the house because the c of o would be your leverage in the court of law.
Do not be frustrated in the buying process
A discouraging factor can be the prices set by some sellers who are all out for profit. They give exorbitant prices and make the buying an herculean task.
Be relaxed and careful when you are buying a house. Search online and you can contact us at droptophomes for help of any kind. We are here for you.
Do you know buying a house can be fun. honestly just take it easy when you are searching for a house and research online and offline before you buy.
Trust you have learnt a thing or two from here. leave a comment and share with friends.