Whether you’re a first-time homebuyer or haven’t bought a house in years, you should be aware of some of the most common mistakes that buyers make. These blunders can cost a lot of money and can even result in buyers not getting their dream home in the end.
Before you buy a house in Scottsdale, you should check out the most common mistakes homebuyers make and make sure you avoid them. Always remember: a qualified Realtor is your best guide and working with one is the best way to avoid these pitfalls.
A true Scottsdale dream home
1. Underestimating the costs of buying a home
Many homebuyers merely look at the total sale price of the home, and then maybe break it down into monthly mortgage payments. But they often forget about the additional expenses that come with owning a home. For example, you might be able to afford the principal and interest on the loan every month, but you also have to budget for property taxes and insurance. Plus, there’s private mortgage insurance, or PMI, if you don’t put at least 20 percent down when you buy the house. If you move into a Scottsdale home with a homeowners’ association, you’ll have HOA dues, too. All of this can increase the monthly payments by a few hundred dollars, so it’s important to factor it in before you decide you can afford the payments for the Scottsdale house you want to buy. Perhaps your dream home can be found in another community with a lower HOA fee, or maybe it will take a couple of more months worth of savings to afford your new home. Remember, there are always solutions to these pitfalls!
2. Becoming emotionally attached to a home too fast
This is a common mistake because it’s easy to become attached to a house that seems to be your dream home. But if you instantly fall in love with a house once you step foot on the property because the front exterior is exactly what you like, it can be hard to look at the interior with a critical eye, causing you to miss details that you won’t be happy with later. This is why you should create a list of must-haves for your next home, and bring it with you when you tour Scottsdale homes you are interested in. This way, if the house does not have most of the features you like, you will instantly see that once you look at your checklist and see its flaws on paper.
3. Not visiting the house more than once
Even if a house has everything you want, you should visit it at least twice before closing the deal. It might look great during the day, but it could be a different story later on, when your neighbors turn up the music or let their dogs bark all night. Maybe the neighborhood seems quiet and has little traffic on the weekend, but it’s backed up with commuters on weekday mornings. You need to know these details so you’re not blindsided by them when it’s too late to change your mind, especially if you have some other good homes on your radar that may be a better fit for you.
4. Not thinking about resale value
Just because a house seems perfect for you does not mean you should buy it. Some details about the Scottsdale home you like might actually make it hard to sell in the future, which means it’s not a good investment in the long run. So even if you will only use one bathroom, most buyers won’t be happy with a single bathroom in a four-bedroom house, which means you might want to go for the home that has at least two. Even if you don’t need much storage space, trying to sell a house with no hall closets could be a problem, so avoid buying a house with no storage – unless you’re prepared to add some closets in the future or devise some clever storage solutions that you and future buyers can enjoy. Again, there are always solutions and your Realtor should be able to provide useful and tangible solutions.
The Matheson Team will be glad to help you avoid these mistakes as you look for the home of your dreams in Scottsdale, so contact us today to get started on your home search.
Don Matheson
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255
480-360-0281
don@scottsdalerealestate.com
