Buying a house can be overwhelming. It can often be an emotional journey, but it is still a big-ticket purchase you must do calmly!
Here is an exciting story. Christine is a hard-working manager at a construction company. Her dream is to have a home of her own. After years of hard work, she decided to make her first investment. It took her years to save enough money to buy her own dream home. For her first home, she wanted everything to be perfect. She sought advice from family and friends. Soon, she was ready to take the leap and become a homeowner. She searched the internet daily for homes she could buy. One day, she saw a home in a location she liked. It was love at first sight!
In many ways, it was everything she had imagined. The house had a small garden, parking space, and ample space behind it. “This is it! My dream house!” she said to herself. She couldn’t sleep because she was so excited! She contacted the seller the following morning. The seller, Dave, was helpful and accommodating. Dave sent photos of every room in the house. She even called Christine to answer all of her questions quickly. Christine is firmly determined to own the house. So she set a home tour schedule for the upcoming weekend. She couldn’t hold back her excitement. Dave welcomed Christine at the front of the house and greeted her with a big smile. Christine went in and was surprisingly impressed with its beauty. The house was freshly painted, and the furniture was newly installed. Everything was perfect! After visiting the house for just a few minutes, Christine wanted to discuss the price. She bargained and requested a discount.
Surprisingly, Dave agreed. Christine got a massive discount since it was a rush sale. Additionally, Dave gifted all of the furniture to Christine as a bonus. After that, an agreement was made between the two. It took months of processing it, but it made Christine feel overjoyed when she entered the house. She had waited her whole life for this moment, and it felt like a dream come true.
Tip #1: Make sure to have a home inspection done before signing on the dotted line
Christine was delighted with her new home, and she couldn’t wait to start decorating it. She planned on rearranging some of the furniture over the weekend, making room for all of her stuff. While moving one heavy bookshelf close to a wall, Christine noticed cracks hidden behind the bookshelf. The damage looked easy enough to fix, so she thought she could quickly patch it up with cement. Christine spent the day moving boxes and other items in preparation for her move but was shocked to find that she couldn’t take a bath before going home. The drains were clogged. She had a suspicion that there were hidden defects in the house she just bought.
The first impression of her new home was not what she expected. Upon closer inspection, the house had extensive hidden damages. Thanks to the help of the professionals. They worked hard to evaluate everything and resulted in revealing such damages. Christine sighed, disappointed by her new home’s current condition. Included in that damages are the sewage systems, as well as the drains backed up. While inspecting, a crack in some walls surprised them. They also found a leaky toilet with its disturbing foul smell. After examining, Christine could see that some windows are old and rusted. She could see that others have fungus growing around them due to age. And it’s not suitable for living conditions at all.
Furthermore, Christine tried to use the kitchen sink, but only to find out that it got clogged. Christine thought the discount was too good to be true. She tried contacting Dave, yet she can’t reach him anymore. The deal she thought would save her turned out to be a nightmare. The bargain that Christine thought instead had been nothing but disaster for her all along. Christine spent a great deal of money renovating her dream home. Her plan of moving in got delayed because of all the repairs that need to be done. It seemed like everything that could go wrong did when it came time to move into Christine’s dream home. She spent all summer taking care of these repairs before moving in. And that made her realize that there are more things on top that need fixing.
It can be exciting to buy your first home, and some first-time buyers tend to get too excited and miss a lot during the home inspection. Asking for help is an excellent way to avoid this mistake. Talk to someone who has bought properties before. It could be a family member or a friend. Or one best way to do this is to seek help from professionals like in Property Ph. It’s the same thing when buying a condominium in Pasig. Professionals who handle the process in buying a home ensure to prepare the property in good condition before selling to a homebuyer like Christine. Don’t hesitate to ask for help, or you may regret your purchase in the future.
Tip #2: Try to avoid homes in areas prone to natural disasters like earthquakes and floods
It was the rainy season when Christine moved into her new home. One rainy afternoon, she noticed some leaks coming through from above and gushing out of our ceiling like an open faucet. The rain was dripping from the top and pooling in an ever-growing puddle on her floor. She could feel the frustration building up inside her as she looked around at what needed to be done. Yet she spent too much, leaving her pocket not enough money for repairs after other repairs.
You should also inquire about the neighbourhood in general in addition to the usual house inspection. Look for flooding history when selecting a home. You may want to ask your future neighbours if they experience flooding during the rainy season.
Tip #3: Don’t let the house you’re buying be your first and only viewing
Christine made the mistake of overlooking a critical inspection of her new houses. To name a few, they failed to check for leaks and other problems. As she was a first-time homebuyer, this is an easily avoidable mistake many others have been known to make too. Because Christine lacks experience, she did not re-inspect the house she wanted to buy. Before signing anything, ask the seller for one more chance to inspect the home. A second or third look may help you see potential hazards and damage to the house. You may also be able to plan future renovations by viewing the house often.
Tip #4: Don’t buy a house that’s more than 25% over budget
Set a budget and stick to it. The first house you buy may need repairs and renovations. Overspending may result in not having enough funds for necessary repairs and renovations to make the house habitable.