Do your research about the area.

Take a look at the house and look at the surrounding area. It is important to consider more than just bricks and mortar when deciding where you live.

How do you find the right community for you? Be a neighbourhood detective. Find a neighbourhood that matches your criteria and do some research to find out what it is.

Take a look at multiple houses before you make a purchase.

It’s like buying the first house that you see. You’re more likely to buy a home that isn’t comparable to similar homes in the area or to pay too much. Before you make a decision, walk through at least three homes. Make an offer if you love the first home you visited.

Don’t forget to have a professional inspect your property.

Sellers might not always tell potential buyers the truth or may have used a temporary solution to hide problems until closing. While the average time it takes to find a home is 15 minutes, many potential problems such as plumbing or wiring issues might not be obvious to the naked eye.

A home inspector can see beyond the new paint and find expensive underlying issues. It will be worth it to hire an experienced professional.

Don’t buy based on wants but needs.

The average American lives in a single home for 9 years. It’s important to consider your long-term goals when purchasing a home. While a 2-bedroom home with a great kitchen might be appealing to you now, it will not appeal to you when your children grow up. To avoid buyer’s regret down the line, make a list of all your needs.

Don’t overbid at real estate auctions.

Although it is possible to find a great deal on your dream home through an auction house, you shouldn’t expect to be able to buy a home at a discount. Although the starting price might seem fair, multiple bidders could force the price to be well above market value.

Do your research to avoid overbidding. Do you have any outstanding property taxes and liens that would be due upon purchase? What is the average selling price of comparable homes in this area? Are the prices going up or down in the area? Set a budget for auction day, and don’t allow emotions to control your bids in a bidding battle.

A house is not for its decor.

Although a home may have beautiful furnishings, it must accommodate your furniture and lifestyle once the sellers have moved out. It would be best to look beyond the home’s decor to ensure that it will suit your needs and furniture.

Are they functional and practical for your daily life? It’s possible to love how a seller transformed an extra bedroom into a crafting space. But is it big enough for your twins? To determine if a home suits you, look at the layout and square footage.

Do not believe everything you see in an advertisement for real estate.

You might be blindsided by the details of a real estate advertisement. Real estate ads are designed to spark your curiosity enough to get you to take a closer look. You can be a smart buyer by decoding the clever phrases used to lure you in.

If an advertisement says that a home is cosy, it’s likely very small. If the listing says “as is”, there will likely be a lot of work involved. Although motivated sellers may be more open to negotiating their price, it’s important to get an inspection to ensure there isn’t an underlying cause (such as faulty wiring or poor plumbing) that they are unable to wait to sell. You can keep realistic expectations about showings by learning the lingo.

Do not buy the most expensive house in the neighbourhood.

Keep up with them, but don’t be too competitive. The biggest house on the block won’t give you the same return as the smaller one, so it might be difficult to sell later.

Research the area before you buy a house. Is the house too big for the area? Is the area home to comparable properties? If you decide to sell, you’ll be happy you have the information.