Buying a home is an exciting process. Many people are hoping to find their dream property, where they can stay for the rest of their lives. While there are many awesome aspects of searching for your next residence, there are also problems that arise. Although I love helping people find the house of their dreams, I also believe it is important to stay realistic about the process. These are some things you should keep in mind when buying a house.
Budget Nightmares
One big problem many eager homebuyers run into is budgeting conflicts. Maybe you have stellar credit and a large salary, but plenty of student loan debt. Or, you may have children and need to keep a steep emergency fund. Unfortunately, many couples choose their home with their heart, not with their brain. If you know that you cannot afford your dream house, don’t set your heart on buying it. Foreclosures are becoming commonplace, and you don’t want to go down that path. Keep in mind when shopping around that your budget may not allow for a picture-perfect house, and that is just fine.
HGTV Isn’t Reality
How often do you watch HGTV? There are quite a few homebuyers who watch this channel, especially around the time they decide to buy. However, HGTV isn’t always realistic. Shows can exaggerate how perfect a home is, renovation shows can use participants’ money (rather than a network budget), and the best houses often come with steep competition, meaning you may be outbid by another buyer. While HGTV is great for finding innovative home ideas, it should not be used as a guidebook to buying.
It Can Take Months
Looking to move to a new house this month? Sorry, but it isn’t realistic. Many homebuyers can spend months searching for the right home, getting paperwork in order, and hiring inspectors to check out the home’s stability. Before beginning your house hunt, make sure you understand it can take longer than you expect to end up in a new home.
Flaws Are Common
Even the most picture-perfect house will have a flaw somewhere. Some flaws are more obvious, such as shag carpet and neon orange walls. Others, like termite infestations and a crumbling foundation, may require professionals to detect and handle. Keep in mind that any house you buy will reveal its flaws over time, but also keep in mind that any seemingly perfect house may be a little too good to be true.
Buying a house is one of the most important decisions you make, and it should be done with reality in mind. Although you can hope that the process runs smoothly, there is almost always something that gets in the way of that. The best thing to do is anticipate the worst, but hope for the best.
From Patch
Kathleen Monroe | Realtor 