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Five Tips for First Time Homebuyers

When you purchase a home, you want to make sure everything is as close to perfect as possible. You want to find a property with a great location, sufficient space, and a pleasing aesthetic.

If you are in the market to buy your first home, there are some rookie mistakes to be aware of. Many first-time buyers overlook certain details and can let their emotions rule their decision-making process. This can become a big issue considering that homes are quite expensive. If you make a major mistake during the Coveyancing process, you can’t just walk away.

Doing a fair amount of research before making a purchasing decision can keep you from making common first-time buyer mistakes. Here are some things you will want to consider when you’re in the market.

Location

You can change many things about your home, but you can’t change its location. Therefore, you will want to make sure you are pleased with the neighborhood.

The neighborhood you live in should be safe. It should have easy access to the things that are important to you such as schools, highways, parks, shops and restaurants. If you’re not happy with the neighborhood, you won’t be happy with the home.

Pay Attention to Details at Open Houses

A home may seem like a dream house at first, but if you pay attention, you may find it’s not as great as it seems. Look out for things like closet space, strange smells, the parking situation, the state of the appliances and how noisy it is inside the home. These are issues that may not be fixable and can leave you with a home you regret purchasing.

Pay for a Home Inspection

A home inspection is typically included in the buying process, but it may not cover things like testing for radon, pests and mold. Therefore, you may want to pay for a more extensive inspection.

Make sure the inspector you hire gets into every nook and cranny of the home. If he or she finds damage, you may be able to negotiate for a lower price or you may get the homeowner to cover repair expenses.

Negotiate

You may be able to negotiate with the seller to get a lower price. Damage and the cost of repairs can be used as leverage. You also may have bargaining power if it’s a buyers’ market.

Your real estate agent will advise you on how far you can go with your negotiations, and they may even help you get a better deal.

Buy Adequate Home Insurance

After spending money to buy a new home, you may be reluctant to shell any more out. But getting home insurance will be a worthwhile investment in the long run.

When you decide to buy, don’t skimp out. Buy enough to cover the cost of rebuilding your home it it’s destroyed.

Once you are in your settled in your home, it’s hopeful that you are happy with your purchase. But if matters arise that call for legal advice, you’ll want to call an expert.

Link Law has years of experience dealing with various aspects of Real Estate Law. We will help you get an outcome you are happy with. Call us to schedule a free consultation so you can find out about your options.

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