/Buying Your First House? Avoid Overpaying

Buying Your First House? Avoid Overpaying

Buying a home is isolating

Buying a home—especially for the first time—is a very personal experience. It involves a wide range of emotions. Therefore, it’s easy to get caught up in your own emotions without consulting others. This is especially dangerous if you fall in love with a property, which leads to idealizing the positives, overlooking the negatives, and losing sight of the factors that might depress the property’s value.

Remember: No house is truly perfect, and it’s not your realtor’s job to point out the flaws. A real estate agent’s primary interest is selling the property, so it’s up to you to get an outside opinion or two.

Walking away isn’t the end of the world

Don’t feel pressured to get a deal done for a deal’s sake. If the price is $5,000 more than you envisioned, it might not be worth your money. If there’s a problem with the bathroom that just continues to bother you, it might be a warning sign.

Take warning signs seriously. There are always other properties out there, even if the home-buying process takes a month or two longer than anticipated. Regret sticks with you, especially when thousands of dollars are at stake.