Whether you’re searching for your first home or are moving up the property ladder, there are a lot of things you need to think about. However, property expert Phil Spencer has revealed what he believes is the biggest mistake made by homebuyers.
Speaking to the Express he explained that most buyers will have a list of must-haves when they’re searching for a home, covering everything from the location of the property to what kind of rooms it needs to have.
“The most common mistake homebuyers make is not being focused. Not all the properties you imagine will exist at your price point,” he stated.
That may mean having to compromise on what and where you buy, particularly if it’s your first home, but you need to be careful what you compromise on, with the newspaper noting that one in ten first-time buyers regret their first property purchase.
Among Phil’s top pieces of advice are to take your own photos of the properties you view, and to take a compass with you when you see each home so that you can make sure you know which way the property faces.
He also recommends checking what similar homes in the area have sold for before you make an offer to ensure you don’t over or under bid.
Knowing your budget and sticking to it is especially important, he added. Given that research by emoov recently revealed that the average property price in the UK is six times the average salary, you need to make sure you don’t find your ideal home, only to discover that it’s out of your price range.
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