Playing Jeopardy

Sometimes when buying a new home, you can be your own worse enemy. What exactly do I mean by that statement? Well, here’s some examples that could jeopardize the sale.

1. Talking too much: When looking at a prospective property be as non-committal as possible. Talking to the seller and telling them information that may be confidential puts the ball in their court. If you’re overly enthusiastic about the house, how can your real estate agent get a lower price? Gushing about the wonderful stone fireplace and gorgeous kitchen cabinets isn’t going to help at all.

2. Buying a home that needs work: There are so many houses on the market right now that you don’t have to buy a house that needs repairs. It will eat up your much needed cash. Buy something in your price range that doesn’t need work. It’s important to understand how much you can afford before making a commitment on a home. You’ll be incurring costs for home inspections, appraisals, and closing costs that need to be taken into consideration.

3. Falling for something you can’t afford: If you can’t afford it, don’t look at it. If you look at it anyways and you really love it, make a lower offer. However, if it’s not accepted, look elsewhere. You need to be realistic about your income and what you can afford to borrow. This will affect how much you put down as your down payment. It will then help to gauge your monthly payments.

4. Fell in love with the house but didn’t check out the neighborhood: You had your offer accepted on your dream home. When you cruised past it to show your best friend, you notice that your next door neighbor runs a kennel..a loud noisy kennel. What you thought was an extra parking is posted “No Parking”. Okay, so the sign was behind the tree, but you could’ve looked closer. It pays to drive past the house you want at different times of the day and night. This gives you an idea of what activities go on, what the neighbors are doing and how it is at night.

5. You passed on the home inspection because it “looked fine to you.”: You normally don’t see termites, an inspector knows where to look. The basement looks dry but is it? And why is that light flickering? Having an inspector go through your house before closing can save alot of hassle in the future.

6. You didn’t think about property taxes: We all have to pay taxes. Sometimes they’re a lot higher than what you had planned on or thought they would be. Talk to your lender and find out what the taxes will be on your house. Do this before you sign so you’re not short of cash when the taxes are due.

So you can see with some common sense, being prepared for the unexpected and knowing what you can afford, you can have the home of your dreams.

By Linda Lee Ruzicka

Linda Lee Ruzicka lives in the mountains of Western PA , happily married and with her 8 cats and three dogs. She has been published in Twilight Times, Dark Krypt, Fables, Writing Village, June Cotner anthology, The Grit, Reminisce , the book, Haunted Encounters: Friends and Family. She also does freelances work for Beyond and Realestatejobsite. You can read more of her blogs on Realestatejobsite blog.