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2 Mistakes to Avoid When Buying a Home.
Buying a house is considered to be a lifetime investment, that you intended to yield results all the years of your life, and therefore it is important that you be very careful before you part with your money to buy any house. Most people save all their life so that they can get the money to buy the house of their dream, while others will take a loan from a mortgage company. For this reason, you need to make sure that you buy a house that you will love the rest of your life and in case you might want to resell it in future, you will sell it at a profit not at a loss. Here are some of the mistakes that you should avoid when it comes to buying a house.
1. Do not buy a fixer upper.
There are people for some reasons who will decide to buy houses that are old and destroyed with a hope that when they do those renovations, the house will be as beautiful as they would want. In real sense, the reason why people prefer buying the fixer upper is that they are less expensive and they are located in some of that neighborhood that only the rich live. The fact is buying this kind of a house will only lead you to make some losses after some years, you will have to spend a lot on renovations, which actually could be the same amount you could have used to buy a new house, and when it comes to selling that house, it will be difficult to find a buyer, and if you find one you will be forced to sell that house at a lower price. It is important that you buy a new house so that it will give you better returns in future, and you will not have to spend on renovations.
2. Perform a Pre Purchase home Inspection.
Before you buy a house it is always good to perform an inspection to protect you from buying a house that is in a bad condition. This should be done by a professional home inspector who will be in a position to identify any structural problem, dampness in the house, the problem with the electrification, termite inspection among others things. If the inspector will find that a house has so many issues, he will warn you against buying this house, and not unless you want to risk losing your money, you should listen to him. However, if you find the house has some issues and not the major ones, you can use this to your advantage to negotiate a better deal; that is if your mortgage company agrees to finance you for this house.
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