Tips For Avoiding A Home Buyer Mistake
Buying a home is one of the most rewarding moments in life, but it can also be a very long road with a few unexpected potholes along the way. Nothing can help a first time home buyer avoid making these mistakes, than learning from others. Check out some of these mistakes below, and how you can avoid them!
- Last Minute Home Searching- A lot of home buyers have no idea that it can take weeks, or even months to find the perfect home. Because of this, we always suggest to start looking sooner rather than later. If your lease is ending soon, or perhaps you’re expecting another child, but the market you’re looking in is currently experiencing low inventory, like we are experiencing in Santa Clarita, last-minute home searching could leave you cramped or homeless! Talk with your realtor about what your future plans are to discuss a timeline that makes sense for you.
- Not Considering Future Plans– We always ask our clients when searching for a home, how long they intend to stay? Do you plan on moving in a year, or is this your forever home? Also, do you plan on growing your family. Imagine finding the perfect home, getting married, having kids, only to realize the schools around are less than stellar, or worse, no schools at all! (Not a problem we see in Santa Clarita of course.) Always ask yourself what your life plan is in 1, 5, 10 years. If that home still makes sense you are making the right choice.
- Caving To A Seller’s Every Demand– When Hugh Hefner sold the Playboy Mansion there was one very big contingency. That he is allowed to live in the home until death. A buyer came along and agreed! Now, we don’t see extreme cases such as this out here in Santa Clarita, but some rather lavish demands can be made. Just remember, it is not a demand, it is a request, and if they are unwilling to negotiate, maybe consider moving on to another property. A home is huge life decision, and no one should be bullied into accepting something they don’t want or agree to.
- Buying Too Big– This ties into considering future plans. Maybe you are a newlywed and are set on having 4 children, and letting your in-laws move in, in the future so you decide on a 7,000 sq. ft 6 bedroom home. Fast forward a few years and you are happily with two children, and the in-laws have decided to travel in a motor home through retirement instead. That is a lot of house to maintain. Although you can downgrade in the future, be sure to really consider all future plans when buying.
- Location, Location, Location– Consider your current life, and your future plans. Perhaps you work from home so distance, or public transportation isn’t something you will need to consider, so you decide on a quiet ranch in the countryside. Fast forward a few years, and you are promoted and now having to commute 4 hours a day. We all know how LA traffic can be, a nightmare. So when considering buying a home, make sure the location makes sense for you. That the available local amenities are in a reasonable distance.
When making the jump into homeownership, be sure to have the best Real Estate team in Santa Clarita Valley representing you. If you would like to discuss your options, contact us here, or at 661-373-2374.