Hopefully when you sign that purchase agreement, you don’t go away feeling “oops what did I buy?” That would be a dreadful feeling. If this is the feeling you have after your first purchase agreement signing – maybe your gut is telling you something. Yes you have a chance to get out of the deal if the inspections fail, or financing fails, but that can all take you down a road that costs money. To avoid overspending to buy that home, take a little time to think it through thoroughly. Take someone along to help your sort everything out. Another set of eyes can’t hurt. Be objective, let your excitement get put aside for a moment and think logically through all that you are looking for and whether that home will do it. Remember a wish list is always packed with more than is usually reasonable, so compromise on the little things, not the big things.
Last week I had a new buyer get excited about a home for the wrong reasons. The feature they liked was not expensive, but the rest of the house was a mess. It would have been more cost-effective to buy a home more move in ready and add the feature they wanted.
Before moving on to inspections, appraisals, and other things that cost money, make sure your eyes are not deceiving you – it can be costly. It’s like painting – preparation, preparation, preparation – then paint. This will save you money!
Happy home shopping!