It’s a dream of every one’s life to own a home. Definitely we take a crucial decision in life to buy a home. When I brought my first apartment I did several mistakes. By God’s grace everything worked well luckly. But luck doesn’t favor every time.
So over a course of time I explored many tips and techniques to select a good property. And It helped me a lot when I brought my second home.
In this video I’m going to tell you about the TOP 5 mistakes of home buyers. Obviously these are my personal view points
but I’m sure you will not repeat these mistakes if you are watching my video.
Mistake No 1: No home work before buying home
It is the first mistake home buyers start with. We just think about the amount of savings we have and an approximate price we can afford. After that check few colorful property advertisements and select the property which has the most fascinating photos in brochure.
We don’t think about financial eligibility. Builder’s rating and construction history. Property Location, Social and Political atmosphere in neighborhood, Don’t even compare with other similar properties .
Mistake No 2: Love at first sight
Its the craziest thing happens for first time home buyers. If a buyer is taken to a well maintained property on his or her first time visit to any property.
Most of the time they fix the property in their mind and discard plan to check for other properties before taking decision.
Mistake No 3: Skipping Home Inspection by experts
Just for the sake of saving few bucks we avoid consulting with a third party real estate expert to verify the property details.
Mistake No 4: Overpaying for perfection
May be the buyer has never taken bath other than tap water in his whole life but will buy the property with swim pool by paying 1 milion extra. It’s a big physiological factor.
Although spending extra for any fascinating add-ons to a property may not be a good decision against paying the same extra fund for getting a bigger property at better location.
Mistake No 5: Always looking for a better deal
Side dish is always more attractive than the main . Seller makes various deals by adding attractive benefits like easy emi, guaranteed rental after possession. one year free maintenance etc.
we get easily attracted by these deals rather checking Builders rating and Quality of construction.
If you are a home owner or planning to buy a home dont miss my video on “How to pay your Home loan quickly”. Thank you
Som is a Cloud Infrastructure Architect, Public Speaker, and a Technical Consultant working in an MNC. He has around 15 years of accomplishments in IT solutions delivery for various financial institutions across the globe.
Som is the founder of “e2e Solution Architect“ and Udemy instructor. End to End Solution Architect is an educational forum for Data Science, Machine Learning, and end-to-end Cloud solutions for large-scale production environments.
