Three (3) Most common mistakes during the house-hunting process

Hunting for a new house can be a very exciting yet stressful experience! The range of choices can be quite overwhelming especially if you’re the type who is primarily focused on finding your ultimate dream home. Chances are, you are more likely to make a bad decision without realizing it until it’s too late. It is then important to be aware of the most common pitfalls encountered by majority of first-time home buyers.

What Are The Most Common Mistakes During The House-Hunting Process

Do not let your emotions control your decisions while you’re on a hunt. Learn the top three (3) mistakes to avoid during the entire process.

1. Prioritizing appearance above all things. Suppose you’ve seen a few houses for sale in the Philippines and the third one you have visited is nearest to your concept of a dream home. The seller has done all the work – decorations, painting, carpeting. The kitchen is divinely spacious with built-in stove and updated appliances; there are extras installed in the house already – luxurious bathtub, central air conditioning and security system. It is situated a bit far from your workplace but you have a car so it is still acceptable. It’s big enough for you and your immediate family. It generally suits your taste. There are still some things that you’d like to upgrade but you are not worrying about it very much because you feel it will not cost you a lot of money to do so. This is where you’re wrong. Do remember that it’s better to opt for something that needs a major overhaul in the interiors and exteriors rather than a place where everything is already set and made up. It is much cheaper in the long run should you decide to remodel or renovate. Bottom line, you need to consider not just the aesthetics but the budget, location, layout and overall land size as well.
2. Ignoring major and minor fixes. Keep in mind that home ownership is more than just purchasing the property alone. You have to think about repairs and maintenance as well – outdated or exposed electrical wirings, leaks and plumbing issues, faulty foundations. Do not entertain the idea that you can do all the handyman stuff that needs to be done. Find an inspector who can help you make a rational assessment about the value of the whole residence.
3. Making an offer too much, too fast, too soon. Another mistake is assuming that there is no otherPhilippine real estate property that can equal to the one you’re currently viewing, you are under a deadline and you must give the best bid else hand the silver platter to a competitor buyer. Take your time to research how much it is really worth to make sure that the price you’ll offer is within a reasonable range. 

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via:http://63realestate.wordpress.com/2014/02/25/mistakes-during-the-house-hunting-process/