Tuesday, May 10, 2011

Top 5 Home Buying Mistakes

Purchasing a new home is great! You get to decide where your home will be constructed, add a sunroom here, third garage bay there and before you know it you are moving into your dream home. With all the alternatives to select from it is very easy to overlook important elements to your new home buying experience that could cost you greatly in both time and money.

Choosing upgrades with the lowest ROI or too many upgrades, period. - This is genuinely the most common mistake made by new home buyers who don't think about the resale value of their home in the future. When purchasing a new home be sure to stick with the necessary upgrades like two sinks in the master bathroom, high quality cabinetry and above all else, top quality padding under the carpeted areas.

Finding communities first, vitals second. - When you are buying a home you have to shop differently than you would if you were purchasing a car or shopping for clothes. To save yourself much grief and frustration, be sure to hammer out your lifestyle requirements before even searching for a community to build a home in.

Overlooking the "inspection" clause in builder contracts. - A dirty little secret in the new home industry is the fact that some builders, national builders included, send out contracts with a clause stating that they don't allow home inspections by an independent, third party home inspector until after you close on and own the home. They offer to do a walkthrough of the home with you before you close but chances are, unless you are a licensed home inspector with many years of experience, you won't notice any red flags beyond the superficial.

Not using a buyer agent. - When searching a new home, make sure to find a buyer agent who specializes in new homes. There are numerous crucial steps when purchasing a new home that a new home buyer agent will be prepared to work with such as price negotiation, lot choice, researching future development around the community and the pros and cons of building materials your builder will use in the construction of your new home. At present, the buyer agent's services are paid for out of the builder's marketing budget.

Trusting everything you read in advertisements. - If it appears too good to be true, it almost certainly is. Always confirm everything you read in real estate advertisements including newspaper ads and the community's standard features list.

Purchasing a new home is a marvelous, dazzling experience that will gratify to your every need. Through using reasonable care and professional guidance from a reputable third party service like the California Escrow Service, you will enjoy many great years in your new home and harvest considerable rewards from your diligent purchasing efforts when selling your home in the future...

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