Why falling in love with a property could be a costly mistake

On Behalf of | Mar 14, 2021 | Real Estate |

 Have you ever been around someone’s home, and they tell you about how they knew this was the property for them the first time they set eyes on it?

Think about any boy or girl you “fell in love with” at first sight. Once you learned a bit more about them, you would have found there was much more to them than you realized. The same applies to homes. You cannot tell everything about a property just by looking. You need to get to know the property and uncover all its secrets, both good and bad.

What should you do when you see a home you like?

Here are some things you need to investigate before you get too involved:

  • The price: Falling in love with a house that is way out of your price range is like falling in love with the track and field team captain, who is three years your senior. No matter how hard you convince yourself you can find a way to make it work, it will not happen.
  • Its current status: Crushing on another girl’s boyfriend may get you a black eye. Buying a property that someone else has a claim to could leave you in financial ruin. Have your attorney check the title is clean. Long lost relatives or mechanic’s liens will need solving before you can say the property is yours alone.
  • Its history: Both houses and people can have troubled histories. While a layer of paint or makeup may disguise them, the truth will soon emerge. Ensure you have the house surveyed to avoid any nasty surprises. Turning up some issues does not always mean you should abandon your dream. It might just need a bit of love and attention. Be sure you negotiate it into the price.

Finding the right home can change your life. You may well have felt something the first time you saw it. Yet, it pays to back up your instincts with facts.