The Biggest Mistake People Make When Viewing Houses and How to Avoid It
Buying a home is one of the most significant decisions you'll ever make, and the process of viewing potential houses is a crucial step. However, there's one big mistake that many people make when viewing homes: they don't prepare adequately. To avoid this pitfall and make the most of your house-hunting experience, here are the essential steps you should take before setting foot in any property.
1. Get Your Finances in Order
The Mistake: One of the biggest errors buyers make is viewing houses without having their finances sorted out. Without knowing your budget, you risk falling in love with a home you can't afford, leading to disappointment and wasted time.
The Fix: Before viewing any house, get your finances together. Know your budget and stick to it. This means calculating how much you can comfortably spend, taking into account your savings, income, and ongoing expenses. Don't just rely on online calculators—sit down with a financial advisor if needed, and make sure you're clear on your financial boundaries.
2. Get Pre-Approved for a Mortgage
The Mistake: Another common mistake is not having your mortgage decision in principle (DIP) and proof of income ready before you start viewing homes. In a competitive market, being unprepared can cause delays that might cost you the property you want.
The Fix: Before you view a property, ensure you have a mortgage decision in principle and gather proof of income and bank statements. This preparation allows you to move quickly when you find the right home. Sellers are more likely to take your offer seriously if they see that you’re financially ready to proceed.
3. Research the Area and Comparable Properties
The Mistake: Many buyers focus solely on the house itself and neglect to research the area and comparable properties. This can lead to overpaying or buying in a neighborhood that doesn't suit your needs.
The Fix: Before you view a house, take the time to research the area. Look at crime rates, school quality, local amenities, and future development plans. Also, investigate similar properties in the area to understand market value and what you might want to offer. Knowing the context of the property you're viewing can help you make a more informed decision.
4. Make a Viewing Checklist
The Mistake: When viewing homes, it's easy to get caught up in the excitement and overlook critical details. Many buyers focus on the aesthetic appeal and forget to check for potential issues that could be costly down the line.
The Fix: Before you view a house, think about what you need to look for and create a checklist. Consider downloading my free home buying guide and checking out the 25 must-ask questions linked in my highlights for a comprehensive list. Key areas to focus on include:
Doors and Windows: Are they in good condition? Do they open and close properly?
Roof Condition: Does the roof look well-maintained, or are there signs of damage?
Damp: Look for any signs of dampness or water damage, particularly in basements, attics, and around windows.
By being thorough during your viewing, you can avoid costly surprises after you’ve made an offer.