Finding your next Victoria home is an exciting venture. This is especially true when you are a first-time buyer. Buying your first home signifies the beginning of a major life stage. However, it’s essential to recognize that the thrill of the house hunt might lead you to get carried away. As your eyes are pulled to the flashy big listings, you may act too impulsively and make mistakes that could cost you way more than you can afford. Here are 5 mistakes to avoid when buying your first Victoria home:
5 mistakes to avoid when buying your first victoria home
Fooled by Staging
As you step into a beautiful home, you may be blown away by the eye-catching decor and furnishing. Filled with trendy couches, chairs, and accessories, you may be able to envision yourself in the home easily. However, it’s important to remember that the staging furniture and decor will not come with the house. Staging is intended to draw your eye to the highlights of your house, while concealing the less-desirable details. Floor scratches, remnants of water damage, and old windows with intense air drafts might be sneaking by your gaze. Be extra-observant, or bring somebody along who knows what to look out for.
House Hunting Before Applying for a Mortgage
A significant mistake when looking for your first house is beginning your search before addressing your mortgage loan. If you are hunting during a seller’s market, which means there are more buyers than properties, you’ll likely not get the house you want because you don’t have a mortgage lender. This may also lead to confusion around your expected budget. You may end up setting unrealistic expectations of what you can afford and become disappointed when you learn you can’t afford that Grand Victoria real estate property.
Tunnel Vision
Often, one beautiful house in quality condition is enough to convince first-time buyers to submit an offer with the requested offer price. They may not realize that they could actually negotiate a listing price if the properties in the neighborhood or competitors on the market are listed at lower values. Overlooking comparable properties could lead to you investing much more money than you really need to.
Unrealistic Expectations
You may have envisioned all the features and appearance of your ideal home before beginning your house hunt. While it’s essential to have a list of priorities that you want in your Victoria real estate property, you need to make sure that the property exists. You’ll also need to consider what you can really afford and adapt your expectations accordingly. Keep an open mind that your dream home may come in a different shape than what you’ve been imagining. Consider the potential of the Victoria real estate properties that you look at, and remember there’s always room for improvement and personalizing the property to make it your own.
Not Working with the Best Realtor in Victoria BC
Finding the right home for you can be a long and daunting process. The only way to ensure that things go as smoothly as possible, is to hire a seasoned expert. If you are house-hunting in Victoria, let the top realtor in BC, Brad MacLaren, be your guide. He will help you find the perfect property that suits your budget and will leave you satisfied. That way, you can enjoy your new home without the guilt of spending more on a property that you regret. Find the right home for you by contacting Brad MacLaren today.