Monday, November 12, 2012

What to Look Out for When Purchasing a Home

If you are thinking about buying a house, be it to live in or rent as a long-term investment, here are some things you should look out for to avoid potential financial losses in the future.
Renting instead of buying. Many homeowners opt to move into rented premises because they are unable to find a property to buy that meets their requirements. This is one of the biggest mistakes one can make because paying rent over long periods of time absorbs funds which can go towards buying a property.

Buying a house for its decor. Most would be sellers use home staging and immaculate decor to amplify the perceived value of a house, so do not get carried away by fancy interiors and furniture which may prevent you from discovering some of the property's faults such as bad plumbing and wiring. Focus on the structure and  functionality to determine the real value. And don't forget to have a home inspection survey conducted by a professional.

Not considering resale. When buying a house, don't forget that at some point in the future you may want to sell the property. Therefore, have its projected price appreciation and demand evaluated by a real estate agent to ascertain its future market prospects.

Not reaching your neighborhood. Find out about existing amenities and facilities such as schools, hospitals, parks and restaurants. Gauge the safety of the neighborhood by visiting it at different times of the day and night.

Buying an overly luxurious house. Every buyer dreams of a lavish home with fancy architectural design and features such as fountains and swimming pools. However, it's wiser to buy a home that fits your needs instead of one that fits your dreams because such features require a lot of maintenance.

Leaving a house vacant. If you are buying a property for investment purposes, do not let it remain vacant for more than a few months. Vacant properties are always in danger of illegal possession, theft and damage.


  1. Home selling and buying is not as easy as it seems and highering real estate agent is very important way to get profits for investors. All these points you have share are very useful for the investors and I also agree that location is most important for home buyers. So take your time and do well research on location, it will increase your property price in the future.

    Coleman Andrews

  2. Be the one to step up in order for your business to be in the right track. Plan things, make these things possible. If you have the informations, use it and apply the things that you learn from your experience. It will be better to do the things fast paced.

    Brian Linnekens

  3. Whenever you consider your home to sell or buy than first of all concern with a good real estate expert advice is very important because they have good knowledge of real estate market and they can guide you in proper way that which type of property is good to buy and also guide your that where and how can you sell your property on good price.
    Coleman Andrews Bain

  4. I really like how your class timings of your blog. I enjoyed reading your blog and it is both instructional and interesting.Thanks!