Perfect Purchase: Mistakes To Avoid When Buying Your First Home In 2023

0
276
Home

Buying your first house will always be one of the most exciting and challenging times of your life. There is so much to organise and this can often convolute matters, leaving you open to overlooking what is truly right for you, your needs and lifestyle requirements.

With this in mind, it’s imperative not to fall victim to the following mistakes that could work against your interests in the future:

Don’t overlook the buying costs

The best conveyancer Perth will always provide this advice: don’t overlook the closing purchase costs! This is usually a small percentage of the property’s overall purchase price. You can’t avoid paying this fee when buying a home, but it’s easy to overlook when you’re thinking about the mortgage and the excitement of moving into your new home.

Not keeping your options open

You may have come across what you perceive is your dream home. It supposedly ticks all of the boxes: beautiful build, great location, all the amenities, but is this perfect home financially viable for you?

Furthermore, you may love a certain aspect of the home, such as its aesthetic, but does it have other faults that need analysing? For example, if it is a beautiful old home, does it have potential structural or plumbing issues? These imperative elements can’t be overlooked for the excitement of buying the home itself.

Therefore, it’s alway recommended that you view multiple homes and view them through a comprehensive lens: does this home really tick all of your boxes? Or are you a little blinded by that stunningly rustic courtyard out back?

Overlooking enlisting a conveyancer

 Conveyancing is a highly specialised law field that requires extensive training and experience to do the job properly. Therefore, you should always enlist a professional conveyancer when buying a home as they understand the ins and outs of transferring the property into your name.

You should take your time to find the right person for the job, looking into their experience, client testimonials, areas of expertise and more, as they will help you create a smooth transition between the previous property owner and the new owner – you!

Trying to avoid required payments

 There’s no escaping it: homebuying is replete with added fees. This can come as a massive shock to first home buyers, who often think there isn’t much more to the experience than putting pen to paper and paying off the mortgage.

These fees often only surface when you’re about to close the deal, and they can really shake up the buying experience in an unwanted way. This is why having some legal assistance in your corner to help you understand some of the excess fees that come with buying a home.

Not having the property inspected before buying

 We’re not going to lie: many vendors will try to shy away from their property’s problems when trying to sell the place. What’s more, their real estate agent will be more than obliging to help them in their sneaky quest as, after all, for both parties it’s all about making that sale.

This is why building and pest inspectors exist. They are there to thoroughly analyse the property before you put pen to paper, ensuring that the property is safe to live and without major defects.

If they do find defects it can help you negotiate a better deal or back out of the deal altogether – be sure to enlist one before putting pen to paper!