When you’re ready to buy a home, it’s only natural that you seek the help and advice of the people who matter to you, from friends, colleagues, to family members. However, take note that not all bits of advice may be good or applicable for your distinct needs or preferences; therefore, take everything with a grain of salt and do your own research as well.
In fact, you may also want to consult with real estate professionals who can carefully assess your situation and financial status and then identify the best solutions. Moreover, the following are some common home-buying tips that you might hear and would do well to avoid, especially if you don’t want your dream home to slip away.
Wait for Home Prices to Go Down
It’s true that the real estate market fluctuates and there are times when it’s on the side of the buyer, meaning you’ll be able to get a home for a good price, which may be less or no greater than it’s selling value. Then again, there’s no assurance when prices will drop or whether or not your dream home would still be in the market by then. So if you feel like you can already afford that lovely home, it’s best not to wait and start moving to finally make it your own.
Cut Costs by Making a Low Offer and Skipping Inspections
There are practical ways to save on home-buying expenses, but making a lowball offer and not hiring an inspector are not the ideal ways to cut costs. First of all, lowballing and constant haggling with a seller can only put them off and put you on their list of least preferred buyers, reducing your chances of getting the home you want. Also, skipping the inspection may cost you more in the long run when you buy a home with flaws or structural issues that could’ve been detected with a routine pre-buying inspection.
Worst Home-Buying Advice, Realtor.com