Choosing a House You Can’t Afford
One you find a house you like; it is very hard to go back. You then start imagining the things you want to do in the new house, and how to add things to your lawn, or to the kitchen. However, if you cannot afford the house, you will have to find something else you can afford. Avoid the temptation to go over your budget as it can cause serious problems with the payments later on. It is best to look at homes in your price range.
Assuming There is Nothing Better
Unless you are looking for custom homes, chances are that there are other homes available for sale. Don’t make the mistake of assuming that there is nothing better and jump at the first house you see. Take the time to browse through the listings your real estate agent shows you and look at a couple of houses before you settle on the one you like, and which fits your budget.
If you have been looking for a suitable house for some time and have not found anything you like, don’t let your emotions get the better of you and become desperate. If you move into a house without being fully satisfied with it, you will have a hard time trying to sell it later. If you do, you will end up paying agent’s commission and closing costs on your mortgage for the new home. Do not make a decision just because you are desperate to get a new house.
Ed Sarfo is knowledgeable in both buying and selling homes and advises his clients on what’s best for them.