Don't make these mistakes buying a house

You've found the perfect home, there is consensus between you and the seller and all seems to be said and done. Not quite! Don't let your guard down until the very last moment and avoid the following mistakes:

Making an offer

Even if you've been shopping around a lot you might still find it slightly intimidating to finally make an offer, and rightly so. Your initial offer will influence how much you finally end up paying.

People sell their houses for different reasons and it is possible that the seller of the house you're interested in doesn't want to move at all. It is nearly a given that the seller will be sentimental about the house and won't be as critical as you are. There is bound to be tension on the side of both buyer and seller that could influence the effect of your offer. An offer that is too low could insult the seller and cause him or her to be less willing to negotiate. On the other hand, if your offer is too high you will probably end up paying more than the seller might have been willing to accept.

Really start looking at property for sale

Once you've made all the basic decisions, done the necessary homework and found a trustworthy estate agent, how do you approach the actual "house hunting" process? The keywords are questions and concentration.

Sectional title

Apartments and townhouses are usually sold under sectional title ownership. Such a purchase will mean buying into a kind of communal ownership. You buy more than just your own living space and you must abide by the decisions made by the majority of unit holders. You will become part of the complex's governing body, which takes the form of a so-called "Body Corporate" which entitles you to a say in all decisions that influence the complex or your ownership. 

Building A House

If you plan on building a house yourself, deal with professionals. The last thing you want is delays and costly construction supplies going to waste as a result of a builder struggling to find his way in the dark.

Find out how long the builder has been in the business and how many projects he's been in charge of. Considering the fact that a builder must be able to manage workers, use building supplies responsibly and finish the project within a given time, managerial and business skills are as important as building skills. You can also ask the builder about other projects he's been involved in and contact former clients to find out whether they were satisfied with the work.

Why rent?

Though buying has its advantages renting is sometimes the better option. If you need to relocate regularly buying simply won't be sensible. Finding a buyer on short notice could force you to settle for a lower selling price and the costs generated by the transaction itself is a further aspect to consider. Furthermore renting means that you have less responsibility as far as maintenance is concerned, and if you have a busy lifestyle this is ideal.

First time Home Owners

Buying property is a responsibility that should not be assumed lightly. It is an especially daunting undertaking for young and inexperienced would-be home owners.

Though buying a home and establishing one's self in the property market is a good move financially speaking, younger buyers should seriously consider the implications of buying a house. They may find that owning a home restricts their travel plans and keeping up repayments may become quite a headache if the endeavour is not properly planned and well thought through. Before buying remember: