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Mistakes to avoid before buying a property

Author: Navjeet Kaur
by Navjeet Kaur
Posted: Jan 14, 2014

Buying a house with real estate is such a decision that requires continuous consideration. This helps avoid the common pitfalls that could lead to colossal failures. This involves incessant acknowledgment about buying a property, various transactions undergoing within the process, a legalized contract, home inspection as well as home loans and construction loans. Moreover, it has become even more difficult to purchase a property, even though you have a good credit score. In such a case a simple misstep taken by a buyer can lead to huge financial loss.

Here are some common mistakes that should be taken care of, when planning to purchase a house:

  • The most common mishap that one must avoid is looking for a home, before getting mortgage pre-approval. In fact, the basic problem which lead to such mishaps is being unable to stop the temptation for buying a home and unremitting browsing for various options for buying home on internet. This further make the whole transaction more complicated and jumbled. So, make sure you get pre-approval for your loans. This gives you right direction when looking for a location and figuring out whether the offer is within your means.
  • Avoid falling for wrong property. It could be a wrong location or a big or a small house which might not fit your future needs. Usually, buyers get unfocused due to the curb appeal and tend to overlook dark corners of house. Ensure that you do proper research about the locality, house trends including repairs or plumbing issues. Try looking for a home which has all the basic amenities nearby namely schooling, market and transport.
  • A bit of concern and planning can help make wise decisions. Thus spending some money now on home inspection could save you huge profits in long run. There may be issues which are hidden from you regarding repairs or damages within the house. So, make sure to get the property inspected by an expert to avoid the major problems after you move in. Moreover, avoiding such issues in the beginning will help you have self-assurance, in what you are putting your investment on.
  • Another common mistake while purchasing a home is we often pay what the seller charge us, without considering the legal documents or parties involved, what is the role of each in this process. Especially for the first time buyers they blindly trust the seller and suffer major loss. In such cases it is better to consult a professional agent who has experience and the right skill to guide you, recognize the real estate market and its norms.
  • Buyer must be prepared for the additional expenses which are likely to occur when buying a house. This includes property tax, monthly repayments and other service fees. For those who do not account these matters and are not prepared for these issues may suffer huge financial crisis at later stage. Try managing your budget and a safe future.

Now that we know, purchasing a house includes major investment of an individual, which cannot be overlooked. So, try avoiding investing in areas where such problems reside.

Harji Realtors is one of the leading real estate agents in the region of Chandigarh, Mohali and Kharar. For more information on great deals in Sunny Enclave and the best Bajwa Developers check out our website

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For complete information on buying Flat in Mohali or for buying any Plot in Mohali contact us now

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Author: Navjeet Kaur

Navjeet Kaur

Member since: Oct 29, 2013
Published articles: 896

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