Work with More Than One Inspector
Your home inspector will be one of your greatest allies when buying a property. What they find could make or break or deal, and it could allow you to save a lot of money too. If they see something that you didn’t spot but isn’t that serious, you could use that to get a discount on the property. A good inspector will also be able to make recommendations as to which issues could be fixed and which ones should be deal breakers.
You have to know, however, that even the best inspectors are fallible, so consider hiring more than one for your inspection if you see a house that you really like. You can also hire multiple inspectors to inspect specific areas. If you’re going to hire just one inspector, interview a few of them and pick the one that has the most expertise, the best reputation, and who makes you feel comfortable from the start.
Shop Around for Mortgages
Shopping around for your mortgage is extremely important if you want to get the best deal possible. There are so many lending options available today, and it would be a shame for you to not flex your purchasing power, especially if you’re a good candidate.
Here, it would be a good idea to look at a mortgage comparison site. A mortgage comparison site will allow you to compare quotes from hundreds of different lenders in minutes and even apply on the spot. This will allow you to get this part out of the way fast so you can concentrate on looking for suitable properties.
Look Beyond Single-Family Lots
A lot of people will go for a single-family unit as their first-family home, but you should look at multi-unit properties as well. Another thing you should look at is developing your own property. You could buy a plot and have a multi-unit property built on top of it. This will allow you to generate revenue on the property while having a place to stay. Not only that, but you will be able to build equity in the property and use it to finance the single-family home of your dreams later on while still earning revenue from the property. A single-family home can be a good idea, but you should look at other options and see if you and your family can wait. Being patient could bring dividends later on and set you and your family up for life. So, consider the option and look at what it takes to manage these types of properties as not everyone is meant to be a landlord.
Look Beyond the Staging
Buyers should be wary of over-staged homes. While it’s nice to see that a seller has put in the effort to make the house look as attractive as possible, staging can and is often used to hide flaws. Some staging companies will use tricks like removing appliances from worktops to make them look more spacious, for instance, while others will go as far as removing doors to make older properties look more modern and open.
There are also cases where stagers will use smaller furniture to make rooms look bigger than they actually are. This is why you need to imagine spaces with your belongings there instead. This will give you a real idea of how functional the home will be.
Choose the Timing of Your Visit Wisely
One of the things many first-time homebuyers overlook is the timing of their property visits. First of all, you should see it as a red flag if a seller insists that you come to visit a property in the afternoon. They might try to hide some aspects of the neighbourhood from you, and you might be surprised when you actually start living in the home.
You need to visit properties at different times of the day to get a real idea of how good of a deal they are. Viewing them in the evening will allow you to see how safe and family-friendly the neighbourhood truly is. Going after heavy rainfall could also help expose drainage or roofing issues.
All of these tips will allow you to get a great deal on your next property and avoid ending up with a white elephant. The most important things to remember are that you need to work with the right people, take as much time as you can, and weigh up all of your options carefully. If you need an estate agent to help you buy or sell a property, use Rentround’s estate agent comparison services for free.