Shopping for real estate for the first time in your life is a big challenge. So there are certain rules for what you should and shouldn’t do. If you choose to buy property without the help of a real estate agent, the process becomes even more challenging. Check out these 5 most common mistakes first-time house buyers make and avoid them. Find your dream house or apartment in any Nigerian region on Jiji: https://jiji.ng/real-estate.
1. Not knowing your limit
Having a strict budget is one of the essential components of a successful real estate deal. With thousands of offers fitting your needs, narrowing down the choice to the few most suitable option is not an easy task. In this case a financial limit will help you filter through the offers without the disappointment of choosing one house and then realizing it’s far outside of your budget.
2. Not making a checklist
Making a checklist of desirable features is another important step of buying real estate. Write down a list of must-have and nice-to-have features and check the list every time you come across another attractive ad. For example, if you have a family of four and more and everyone needs to get ready in the morning, having just one bathroom will likely make it harder for everyone, which means that two bathrooms should go to your must-have features.
3. Forgetting additional costs
People who compare the financial aspect of renting property vs. buying often mistakenly think that once you purchase your home, you don’t need to pay for anything ever. These people are usually taken aback by the amount of extra costs they need to pay as homeowners. Maintenance, repairs, security, insurance are only several of the additional expenses. If you’re buying a house with mortgage, there are also bank fees to consider.
4. Not carrying out an investigation
There are plenty of property TV shows, and while most of the information given on them may be fiction, one thing is right for sure: no matter how beautiful a home is at first glance, it can have some serious problems inside. That is why you should have a thorough inspection of any house or apartment you consider buying. It’s best to bring a professional plumber, electrician, and builder with you – no one is better at detecting hidden defects in property than people who do it every day for a living.
5. Getting stuck
For some buyers, looking for a house may be as important and responsible as finding a soulmate, and it’s not uncommon for these buyers to find one home in the beginning of their search and refuse to look at other options. This strategy won’t do you any good – there is always a possibility that a better and more budget-friendly option is waiting just around the corner while you’re fixated on the first or second house you’ve viewed.