Buying your dream home can be nerve-wracking, but it's essential to pay attention to the details during the real estate transaction. Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. a company that specializes in real estate. Here are, according to him, five things to watch out for when you're buying your dream home.
Expect to find problems on the home inspection.
No house is perfect, even if it's your dream home. Expect that there will be things that need to be repaired when you move in. "No home inspection goes through without finding anything," Naghibi said. "You can use what they find to lower your price or negotiate on other grounds."
Don't drag your feet.
While picking a house is an enormous decision, the housing market is hot right now. That means that you should make an offer as quickly as you can. "Just make sure you're still making a careful choice. Be prompt without rushing into anything."
Know what you can afford.
It's necessary to set a budget when you're house hunting. "Once you've fallen in love with a home, it's hard to go back. Don't even see houses that are super out of your price range. You're just setting yourself up for disappointment."
Don't settle for the first house that you see. Look around and make sure that you're making the right choice. "If you don't feel it in your gut, don't buy the house. This is a big investment, and the last thing you want is regrets."
Don't ignore the neighborhood.
It can be tempting to choose a home based only on what it looks like. However, it's important to pay attention to where it's located. "Look at the schools, the neighbors, and any commute you'll have to do. You might think it's worth it to drive two hours each day when you buy the house, but a year later, it will be exhausting."
Buying a home is a complex process. However, if you follow these steps, you will definitely be setting yourself up for success.