- For most people, buying a house is the largest financial investment they will make in their lifetime. It’s exciting, but it can also be incredibly stressful. If you’re worried and have questions spinning through your mind, you’re not alone. In this article I’m going to share with you based on my experience -my top 3 things that home buyers worry about- that they should’nt.
The #3 worry I encounter with homebuyers is that a listing they saw online doesn’t have any pictures or maybe just 1 or 2. It’s important especially in a market where there are few houses for sale to not overlook a home due to lack of photos. Assuming something is wrong with the house could cost you a real find. Some reasons for a lack of pictures are that the home has a current tenant who didn’t want their belongings photographed and put online or the listing hit the market before the professional photos were received and they will be posted once they are. Focus on the specs in the listing description-is it in your desired neighborhood, price range and size?-it’s most likely worth taking a look at and beating out those other buyers who will overlook it
My number 2 worry of homebuyers is buying a fixer-upper. In this world of HGTV most homebuyers wont even consider a home to buy unless its move-in ready. The reality is that in any type of real estate market the ugly duckling house can be the absolute best deal. As long as the home is structurally sound- meaning things like the supporting walls, roof and foundation-the cosmetic details can be relatively easy to address. New flooring, paint, siding & windows can add tremendous value to a home that you bought at below market prices due to it being cosmetically unappealing. Of course you will want to do your due diligence and have a professional home inspection done prior to purchasing so you know the true condition of the home and what your remodeling budget will need to include. Buying a fixer-upper is one of the best ways to create wealth with real estate.
The number 1 worry I find that homebuyers have is that they want to be sure to buy their home in a desirable or trendy neighborhood. Of course this has its perks but keep in mind whats hot and trendy now may not be long-term. For example-condos in Downtown were super trendy until we had a world wide pandemic and everyone wanted to be away from other people. Focus on the things that will add lasting value to a home such as, being in a top school district (even if you don’t have kids, when it comes time to sell the next buyer will likely have this as a priority). Another value add is proximity to hospitals, grocery stores and shopping. Be sure not to overlook neighborhood amenities such as walking trails, pools and community centers. And if you are looking in a state with a wide range of property tax rates keep in mind those neighborhoods with lower tax rates have wide appeal.
Buyers remorse when buying a home is a real thing but if you prepare yourself ahead of time and carefully weigh out your wants and needs, you can feel more confident moving forward in your decision. Let me know in the comments your greatest worry when buying a home.
If you are planning on making a move and you have questions about buying a home, I’m always happy to help-just contact me!