More often than not, the act of buying Hilo real estate can be stressful. You will experience a roller coaster of emotions while finding the right place, getting the loan and finally moving in. For most of us, the first time home purchase is the largest investment that we've ever considered. The emotions of purchasing something so expensive and personal can sometimes cloud our business judgment.
Most home purchasers do little or no research before they invest their nest egg. The truth is, you have to be as completely informed as possible before you go and buy your dear home. This write-up will therefore help you avoid ten of the most common mistakes that home buyers make. The right real estate professional can help you make good business decisions based on your personal situation.
Do a Thorough Inspection - Check the inspection report in detail. Check the validity of the report - was it done by a professional organization? For condo purchases, go over the CC&R's, By-Laws, and Association Fees. In other words, inspect everything - do not be lenient even in small details.
Plan on Personalizing it - Your furnishings and decorations will be the ones that should fill this new home. The previous owner's furniture, no matter how fabulous, leaves with them.
Get realistic - Let your real estate agent know about your income capability - as well as your average living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice but do not mortgage your entire future.
Shop for Homes - See at least 7-10 properties. Don't move too slow but do not move on the first property you set eyes on. With your agent's help, you must be able to view enough properties to get a good overall perspective of the home market. When you find the right property, all the leg work will be worth it.
Utilize Your Team - You'll have an entire team at your disposal if you know how to get in touch with the right real estate agency. So make use of the services of everyone of them. Have them work for your benefit. Check out all the other options before you sign.
Be Columbo - Check out all costs and expenses before you sign. Utilities, taxes, insurance, maintenance and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. It also helps to be detail-oriented and to ask a lot of questions.
Do a Final Walk-Through - Visit the place after all furnishings have been taken out to ensure that there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Sometimes, little things that are spotted in this final check are often overlooked - and this shouldn't be the case.
Plan For Flexibility - Remember that closing dates aren't written in stone. Allow for contingencies and have a back-up plan. Prepare yourself for some changes so you don't get frustrated. These types of circumstances aren't uncommon in a real estate transaction.
If It is Not In Writing, It Does Not Exist - All promises and discussions must be put into writing. Don't rely on assumptions or assurances. Remember, there will always be room for misinterpretations - even for the best intentions. Have your professional take an ongoing log in writing of all discussions and get the seller's written approval on all agreements.
Loyalty Breeds Loyalty -Be open, honest and upfront with your team. Hard feelings as well as disloyalty will cause head aches, delays or may even keep you from getting the property you worked so hard to find. Take the time to select the right team right from the start and your Hilo real estate purchase will be a stress-free and memorable experience.
This article was added on Sunday 04 October, 2009.
