Whether you’re buying your first home or your tenth, we all know there is no such thing as the perfect property, even if we think so when we first see it. What’s worse is that 25% of homeowners had buyer’s remorse about their current home, according to a Redfin survey. While there will likely always be something you want to change about a property, don’t fall into the traps that common homebuyers make and don’t have buyer’s remorse about your home. How can you do that? By knowing what regrets buyers most frequently have:
1. The Neighborhood
Remember, you can change the house, but not the neighborhood. While this may seem obvious, too many buyers fall prey to the nice cosmetics of a home and forget about the surrounding location. When considering a property, visit it multiple times, during the day, at night, on the weekends, and during a weekday. Walk around the neighborhood and go beyond just a few blocks in each direction to determine the noise and traffic factor and nearby amenities. These all can make a major difference in your everyday life.
2. Parking and Transportation
There’s a good chance you have to go to work or into town five days a week. That’s a big portion of your life, which means you want reliable transportation and easy parking. If your home doesn’t have a garage, is there open street parking? How busy do the streets get on weekends? If you don’t own a car, how easy will it be to take public transportation? These are critical questions to address before buying.
3. Realistic Renovations
Often, buyers purchase a home because they envision it with their ideal renovations. While it’s great to buy a home with a foundation for improvements, that won’t get you anywhere if you don’t have the money or resources. If you plan on making renovations to a home, whether it’s knocking down a wall or redoing the kitchen, get an estimate on prices and timeline before you buy.