Buying a home is one of the most important and largest financial decisions that you are likely to make.
Getting it right will result in years of security and happiness from your home. As happy as the right purchase makes you, the wrong purchase can become a painful purchase.
Given the expenses involved in buying and selling, and then buying again, it pays to get it right. To avoid the errors of others, it pays to be aware of the errors first. Many home buyers unwittingly (but commonly) make one of the two errors when selecting a property – they are too slow to move on the right property or they buy the wrong property out of frustration. To find the right property early in the search can create complacency when buying. You can be lulled into thinking that another one will come onto the market soon. If you have a particular or a unique criteria for your new home, it can be a real process to find another suitable property – should you let the right one pass you by. Alternatively, the more generic the property, such as apartments or high rises, the more chance there is that another one will become available. Unique is an overused description in real estate marketing. It is worth being decisive if the right property with unique characteristics does become available though.
It can be surprising to find the right home in the first week or two of your property search. But if you intend to buy and it’s the right price that fits your need, why risk missing it? There is no guarantee that the right home will become available when you are 100% ready to buy. If you pass up the right property and then struggle to find another home over the ensuing months, indifference can quickly turn into frustration.
The key to buying right is to be fully informed, decisive and patient. Decisiveness and patience are a rare but complimentary combination when buying real estate.