How to avoid buying the wrong house

House hunting can be an exciting time for most people, as they search for the perfect house. Becoming a
homeowner can be a rite of passage for first time homeowners. The search for a house, whether it's the
first time or just one of the many in a lifetime, is a process. There are many mistakes that house hunters
can be avoid before the "for sale" sign comes down. Before buying, consider the following key ideas.

1. It's a Real Fixer Upper

Every house has some potential, and fixer-uppers

tend to hypnotize some potential buyers into believing
that a house that is listed in "as is" condition can be
rehabilitated into the mansion of their dreams. The
initial price may be cheap, a real bargain even, but the
costs associated with repairing or rehabilitating a fixer
upper house, can quickly add up. There are some
people who can benefit from buying this type of house,
but those that will be required to hire out for all the
major repairs, may want to reconsider.

2. The Desperate Purchase

The desperate purchase is often the result of rushing to buy a house. This could be the result of selling a
home without purchasing another, or just a case of house hunting fatigue. Planning is key and desperate
purchases are permanent, so a little forethought can go a long way in choosing a house to buy. House
hunting fatigue often creeps in after months of looking but not finding the perfect home. When the
pressure to find a house is high, desperate purchases are more common. To avoid buying a house that
will be regret in a few months, take the time to look longer or explore alternatives before buying.
Temporarily moving to a rental property until the right house comes along may be an alternative.

3. Built in 1950, Interior Design by Donna Reed

Hidden costs of redecorating a house that may be sound in value, but strikingly outdated in the interior
decorating arena. There are many of these houses on the market. Sometimes the homes have great
value, but the previous owners never bothered to update the interior in the forty years of living there.
There is a difference between cosmetic changes and painting, and more extensive changes to an interior,
such as putting in new kitchen cabinets, flooring, and countertops. The less work that you have to do to
the interior when you move in, the more money you will pay for the mortgage. Interior redecorating can
add up, and some new homeowners may come to find that they cannot make immediate changes to the
interior after moving in. Others plan to make changes and just never seem to find the right time, leaving
them with a home that is part modern, part Donna Reed style.

4. Breaking the Bank

This mistake is similar to the idea of being "house poor." Most house hunters enter the real estate search
with a certain budget in mind. This is often a range of house prices that can be quite broad, depending on
the amount the mortgage company will approve for. Selecting a house that stretches into the upper limits
of affordability could be a problem if paying the mortgage depends on an income that will stay the same
or grow over the next 15-30 years. Pouring all your savings and a large percentage of the weekly
paycheck into a house may not be as comfortable to do in five or ten years. If it means that you have to
sacrifice eating out and taking vacations until the mortgage is paid off, the house is probably going to
break your bank account.

Keeping things in perspective throughout the home buying process is as important as working
with a Realtor that you trust.