5 Signs That You’re about to Buy the Wrong House

Businesswoman With House Model And KeysWhen it comes to buying your first home, all your closest ones advise you to go with your gut. If a house looks perfect, then it probably is, right? Wrong! Experience tells us that not all that glitters is gold and not all areas surrounded by four walls are welcoming indoor spaces suitable for all categories of buyers. So how can you tell whether or not a certain property is “the one”? It’s not always easy to assess the level of compatibility between yourself and a new place. Nonetheless, the five following signs indicate that you are actually targeting a house that is pretty far from being your best pick.

1. You Can’t Cope with the Costs. Quality homes in California don’t come cheap, that’s for sure. If you’re relying on financing, would you be able to cope with your monthly mortgage payments? On top of that, you would also need money to pay your utility bills, buy groceries and spare a little something for clothes and entertainment. This being said, make sure your property of choice is actually in your price range, to avoid getting covered in debt.

2. It “Works” for Now. Does the house that you are targeting leave room for remodeling work? Would you be able to add a garage, a pool, a tennis court, a 4th bedroom and bathroom and several other additions that you may find necessary 5 or 10 years from now on?

3. It’s Too Big/Not Big Enough. Are you planning on living with your elder relatives? Are you expecting your 5th child? In this case, you shouldn’t settle for a 3-bedroom single family home. Instead, you should focus on spacious properties enabling all family members to feel as comfortable as possible and profit from a higher level of privacy. If the house is too big, it will only force you to handle bigger bills and costly upkeep.

4. It’s in a Bad Neighborhood(But That’s All That You Can Afford at This Point).Are you flirting with the idea of buying a home in the elegant, safe and quiet Californian suburbs? This sounds like a great plan, but only if you actually get the keys to a house that is close enough to all your key points of interest (your kids’ schools, your office, the local hospital, mall, groceries stores and so on). Otherwise, longer commuting routes could elevate your stress levels, drain the energy out of you and even raise your car insurance premiums.

5. You Can’t See the Bigger Picture, Because You’ve Been Temporarily Blinded by Luxurious Features. “Look at that amazing pool! I definitely want to get my hands on this house!” This is the kind of impulsive behavior that could make you waste a lot of money. Sure, the pool is fabulous, but is also implies considerable maintenance costs. Furthermore, once you detach yourself from all the luxurious features that the homeowner wants you to see, you can actually spot drawbacks that weren’t so obvious at a first glance. Elements like the wrong square footage and wrong locationare only a few of the most commons cons that could make you reconsider, as soon as the novelty factor wears off.

 

09
Sep 2014
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POSTED IN Market
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