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Costly Mistakes You Must Avoid When Selling Your Home - Part 2

Written by Posted On Monday, 01 June 2020 16:30
Costly Mistakes You Must Avoid When Selling Your Home - Part 2

A Simple Mistake When Buying Or Selling Your Home Could Become Very Expensive. Don't Let It Happen To You.

Tom, of Avid Engineering, recently gave a new homeowner a quote of $31,700 to repair a structural problem in their basement.  Tom said, "A $250 site assessment before closing would have identified this issue."

This very expensive mistake is easily avoided. Now you have the opportunity to learn from this mistake, and others, so you don’t waste thousands of dollars when you buy your new house.

Buying a new home is an exciting stage in anybody’s life. It’s easy to get caught up in the thrill of finding the perfect property in the ideal location. However, buying a home is also one of the most expensive things you’ll do - the last thing you want is to ignore details that could end up costing you even more. Here are 5 of the most common mistakes people make when buying a home - and how you can avoid them.

5-expensive-mistakes-to-avoid-when-buying-a-house

  1. Not setting a budget

It’s important to take a long, hard look at your financials before you even start to look at the properties out there. A horribly common house buying mistake is to fall in love with a property that is completely out of your price range. Depending on your state, it’s vital to factor in taxes and extra costs on top of the purchase price.

Consider seeking professional advice, and make sure that you fully understand the costs you’ll incur. It’s also vital to do your research on listings so that you’re not viewing a property with rose-tinted glasses.

  1. Not having clearly defined reasons for moving

Alongside the considerable financial cost, there’s an emotional toll on buying a new house. It’s important to make sure that you’re moving house for the right reasons. Are you moving for the right reasons? Taking time to reflect on your reasons for moving will help you to see if you’re actually looking for a change in lifestyle rather than a change in location. These priorities will also help you articulate the essentials you need in your new home. We spoke with Lisa Dimecurio, an agent in the hyper-competitive California market who described who quickly the market has changed and the extra layers of protocol she has put in place to keep clients safe. If you aren't sure about selling talking to someone who knows what it takes would be a wise idea before anything else.

  1. Buying too quickly

Once you know why you’re moving, it’s important to take the time to find somewhere that fits your brief. If you’re relocating or moving for work, you may want to consider renting first to figure out what you like about a specific area. Taking this time for consideration gives you the chance to find the right property for you, instead of having to guess if you’ll like a specific area.

  1. Being too inflexible

Knowing what you want is a great thing, but it’s also important to know where you’re willing to bend a little. Understanding why you’re moving and where you’re moving will give you a solid appreciation for the things that are essential to you. By all means, stick to your guns, but be realistic about your list. While you may be holding out for the “perfect property”, remember that there are often a few alterations that could turn a house into your dream house.

  1. Not being open to ideas

You may find that what you want, and what you think you want aren’t necessarily the same thing. If you have a realtor that you trust, be open to suggestions they may have for you. This can also help you to prioritize your have-to-haves from your nice-to-haves.

Perhaps most important of all, when it comes to buying a new house, it’s vital to think about what you’ll need in the future. It can be tempting to prioritize your immediate wants, but buying a house is a serious commitment. Take the time to envision your future so that you find yourself in a place where you can grow.

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Shaun Martin

Denver Based Real Estate Expert

Hi there. My name is Shaun. My team and I have been investing in the Denver Real Estate market since 2007 where we buy houses Denver directly from the homeowner and we buy directly because it saves the owner lots of money (no fees or commissions), makes selling to us really fast and you can sell your house as-is (no repairs - which in today's market most buyers want it move-in ready, right?).

To Recap with Watson Buys you can:

  1. Sell directly to us
  2. Sell your home without doing any repairs
  3. Sell your home quickly

So who am I?

My first deal was a single-family house in Denver, CO. It is in a neighborhood called Montbello.  I still own it in fact. It has been a great property. I must admit, when my wife and I bought it, we were nervous as hell!

After purchasing this house in Denver, we fixed it up and rented it out. It has been a great rental ever since!

Subsequently, we have expanded our little business to other cities.

Now we buy houses Indianapolis, Indiana which is a fabulous real estate market. The people are so nice! I have added a number of rental properties in Denver, CO, Port Richey, FL, and Indianapolis, IN.  

I find new rental properties (best off-market deals in Denver)

I am not a get rich quick guy. I am not an aggressive investor.  I believe in mutual benefit to all people involved in each deal I do. I am a believer in cycles. What goes up must go down - and then it will go right back up again. AND

Because of that, I believe that as long as you sell when you want to, in real estate, you will do great. 

Real Estate has given me the opportunity to create security for me, my family and friends, and more importantly, time to enjoy it. 

https://watsonbuys.com/

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