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& Common Home Buyers Regrets

Sal Lissandrello • October 13, 2023

Buying a home is always a stressful experience, especially for first-time homebuyers.

 With so much to do and learn, it can be easy to feel overwhelmed.

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7 Common Homebuyer Regrets (And How to Avoid Them)

 

REGRET #1: Spending More Than Necessary


Spending more than necessary on a home is one of the most common homebuyer regrets. This can happen for a number of reasons, such as:

  • Falling in love with a home and overpaying
  • Not getting pre-approved for a mortgage before starting your home search
  • Not shopping around for multiple mortgage offers
  • Not budgeting for closing costs and other associated expenses

Lesson Learned:


To avoid overspending on your home, it is important to get pre-approved for a mortgage before you start shopping for a home. This will help you know what you can afford and prevent you from falling in love with a home that is out of your budget. It is also important to shop around for multiple mortgage offers from different lenders. This will help you get the best possible interest rate and terms on your mortgage. Finally, be sure to budget for closing costs and other associated expenses, such as moving costs and home repairs.

REGRET #2: Rushing Into a Home Purchase


Rushing into a home purchase is another common regret. This can happen when buyers feel pressure to buy a home quickly, such as when they are relocating for a new job or when they are expecting a child. When buyers rush into a home purchase, they may not have enough time to carefully consider all of their options or to negotiate the best possible price.

Lesson Learned:


To avoid rushing into a home purchase, it is important to give yourself plenty of time to shop for a home and to negotiate with sellers. It is also important to be prepared to walk away from a deal if you are not comfortable with the terms.

REGRET #3: Miscalculating the Costs of Homeownership


Homeownership is a major financial commitment. In addition to the purchase price of the home, buyers also need to budget for monthly mortgage payments, property taxes, homeowners insurance, and maintenance and repairs. Many buyers underestimate the costs of homeownership, which can lead to financial hardship down the road.

Lesson Learned:


To avoid miscalculating the costs of homeownership, it is important to create a budget that includes all of the costs associated with owning a home. You can use a mortgage calculator to estimate your monthly mortgage payments, and you can contact your local tax assessor's office to estimate your property taxes. You should also get quotes from homeowners insurance companies to estimate your annual insurance premiums.

REGRET #4: Underestimating the Time Required To Maintain or Renovate a Home


Owning a home requires a significant amount of time and effort. Buyers often underestimate the amount of time required to maintain or renovate their homes. This can lead to frustration and burnout, especially for buyers who are new to homeownership.

Lesson Learned:


To avoid underestimating the time required to maintain or renovate a home, it is important to be realistic about your expectations. Do some research to learn about the common maintenance and repair tasks that homeowners need to perform. If you are planning on renovating your home, be sure to create a detailed timeline and budget.

REGRET #5: Ignoring or Skipping a Home Inspection


A home inspection is an important part of the home buying process. It can help buyers identify any major problems with the home before they purchase it. Unfortunately, some buyers ignore or skip a home inspection, which can lead to costly repairs down the road.

Lesson Learned:


To avoid ignoring or skipping a home inspection, it is important to understand the importance of a home inspection. A home inspection can help you identify any major problems with the home, such as structural damage, mold, or electrical problems. It can also help you estimate the cost of any needed repairs.

REGRET #6: Choosing a Home That Doesn't Fit


Many buyers choose a home based on its price, location, or curb appeal. However, it is important to consider other factors when choosing a home, such as the size of the home, the layout, and the neighborhood. If you choose a home that doesn't fit your needs, you may end up feeling unhappy and uncomfortable in your own home.

Lesson Learned:


To avoid choosing a home that doesn't fit, it is important to carefully consider your needs and wants. Think about how much space you need, what kind of layout you prefer, and what kind of neighborhood you want to live in. It is also important to visit the home multiple times before making an offer.

REGRET #7: Purchasing Without Professional Help


Buying a home is a complex process, and it is important to have professional help.

 A Real Estate Agent can help you find the right home.


Attract Buyers When Selling  Your Home
By Sal Lissandrello October 15, 2023
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Easy DIY Home Projects That’ll Make You Say, “Yes I Can!”
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By duda November 10, 2021
By: Leanne Potts Beautiful you-can-do-it inspirations for easy DIY projects. As anybody who’s been inspired by HGTV can tell you, DIY home projects on TV look amaaaazing. But DIY renovations in real life: kiiiinda the toughest thing ever. And, yet, these rookie craftsmen did beautiful, jaw-dropping work that will totally inspire you. Check out these easy DIY projects for your home: #1 Pinterest-Worthy DIY Window Seat An empty recess in a room is a ripe spot for a DIY project, as home improvement blogger Britt Kingery can tell you. She and her husband, Justin, built a window seat so ridiculously Pinterest-worthy you’ll want to make one for yourself (like, right now). It’s a roomy 10-foot beauty, so you can seat a houseful of guests without dragging chairs all over the place. And (bonus!) there’s storage underneath for stashing lots of stuff out of sight. You can custom-create your own for about $250 if you’ve got a few essential DIY tools. Or you can do an Ikea hack to get the same result. Just attach one of their long, horizontal storage systems to your walls. Then add cushions and preformed molding for the same custom look. The big reveal doesn’t happen overnight, and a renovation almost always looks worse before it looks better. Britt Kingery, home improvement blogger #2 Miracle Makeover With Just Paint, Stain (and Patience) “The Brady Bunch”-orange wall and abused floors in the before photo are homely enough to strike you blind. But what a miracle paint, sanding, and stain can do! Lighter shades on the walls, trim, and floor reflect natural light, making the space so much brighter. And for very little money (about $150). The key to such an amazing transformation, Kingery says, is to be a tortoise, not a hare. Sanding, taping, patching holes, and waiting on stain, paint or polyurethane to dry takes care and patience if you want professional-looking results. “The big reveal doesn’t happen overnight, and a renovation almost always looks worse before it looks better.” #3 Instant Open Floor Plan Cramped, dark kitchens are so very 1981. Sarah Lemp of the “All Things With Purpose” blog turned her dated kitchen into an open, light-filled space that feels and functions like a larger room. The cost? $300. Yep. For less than the cost of a set of countertop canisters at Williams Sonoma, Lemp worked magic. The biggest fix? She just removed a set of overhead cabinets that blocked light and the view into the dining area, making an instant open floor plan. Then she turned to paint, the budget remodeler’s friend. She used a soft griege (designer-speak for grayish beige) for the walls of the kitchen and dining area. She painted the remaining upper cabinets white, and the bottom ones dark gray. “I love the look of white cabinets, but figured a darker color was more kid-friendly,” she says. Lemp skipped the requisite subway tile backsplash and went with peel-and-stick shiplap instead. “It was easier and cheaper,” she says. #4 Brighter Bedroom With Paint and Wood This may be an ugly room, but we’re not sure because it’s so dark all we can see are cheap blinds and a poofy valance that hasn’t been fashionable since the Olsen twins were toddlers. It needed major help. Ashley Rose and Jared Smith of the blog “Sugar and Cloth” pulled off a weekend makeover by painting the walls a lighter color and replacing the window treatments with wispy, white drapes that practically pull sunlight into the room. A pair of wall-mounted reading lamps added a second layer of light, because a lonely overhead fixture can’t light the whole room all by itself. And that wall behind the bed? It’s strips of reclaimed wood with an adhesive backing. Peel, stick, and you’re done. No nails. No glue. And just one tool: a level to make sure you stick the wood strips in a straight line. Awesome. #5 An Easy-Peasy Backyard Patio Dirt’s ugly. It’s also a pain, turning into mud when it rains, dust when it doesn’t, and sneaking into your house on the feet of dogs and kids. Covering it with a paver patio is a great fix. Chelsea Foy of the blog “Lovely Indeed” built this one in a neglected flower bed in just 10 hours. She used patio stones molded to look like several individual bricks, because leveling one large stone is tons easier than leveling a bunch of bricks. Those arcs of large river rocks just off the patio make a natural-looking transition between the factory-perfect pavers and the rest of the yard. They’ll also give you less lawn to mow or flowers to tend. #6 Fancy Wall Molding for a Bargain Price Wall molding makes a room look so custom, so finished, so much better than boring old drywall. But it costs around $25 a square foot just for the materials. Mysha Barton of the blog “Remington Avenue” pulled it off along her stairs for just $30 — total. The secret? She used MDF (medium density fiberboard, aka fake wood) to keep it cheap, and didn’t mount it in the traditional way with board panels on the wall. Instead, she put thinner “chair rail molding” directly on the wall, and painted everything white, including the wall to get that rich look of molding. The toughest part was cutting all those angles, Barton says. She got it done with a miter box and a handsaw. “My advice is to use scrap wood to practice your angled cuts before taking on your expensive molding pieces.” Barton did this project in just eight hours with three small children in the house, so even if 10th-grade geometry made you cry, you can do this. #7 A Space-Saving Workbench A DIY workbench is a gateway project, one that can lead you to harder projects and possibly, a home improvement addiction. Make this workbench your very first project and you’ll have room to do scads of projects — money-saving ones. It’ll fit in a small space because it’s actually a door mounted on door hinges, so you can fold it flat against the wall when you’re not using it. Be sure to buy a solid wood door, not a hollow one, so it’s sturdy enough to stand up to years of projects.
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