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What are the biggest mistakes people make when buying a home?

What are the biggest mistakes people make when buying a home? Learning from your mistakes is always important, and it is particularly important when it comes to buying a property. Here are 10 common mistakes that often rear their heads. Some may seem obvious. Others may appear when time is against you. Either way, we have come up with practical solutions to help track down that dream home.

What are the biggest mistakes people make when buying a home?

Learning from your mistakes is always important, and it is particularly important when it comes to buying a property. Here are 10 common mistakes that often rear their heads. Some may seem obvious. Others may appear when time is against you. Either way, we have come up with practical solutions to help track down that dream home.

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1. Putting in an offer after a single viewing. Many homeowners regret snapping up a property without looking around a second time. It may be a long drive away, you may be rushed or late for supper, but always find time for a second or third viewing.

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2. Not getting finance sorted until it is too late. Make sure you have spoken to your bank or building society to agree your mortgage in principle. It is easy to get carried away with the romance of buying a property, then discover your bank will not lend you sufficient funds to snap up your dream home. Before you make an offer or begin your house search, talk to your mortgage-lender first.

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3. Doing insufficient research into the state of the local property market. Carry out basic research into what properties have been fetching in the area, then you will know what to offer for your new home. Your agent or www.mouseprice.com are useful sources.

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4. Failing to identify the need to move quickly. There are all kinds of situations in which, if you do not move quickly, you will not get the property you want. It is wise to set out your criteria from the outset, then get your skates on.

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5. Failing to take into account the seller’s personal circumstances. Is the seller in no particular hurry to move? Or in a desperate hurry because he has just been offered a new job in Australia? Ignore that all-important consideration and you may get your buying strategy wrong.

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6. Neglecting to talk to neighbours. You will often need to pluck up the courage, but it is worth knocking on your prospective neighbours’ doors to find out more about an area. A few preliminary inquiries should be enough.

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7. Skimping on the survey. A full survey should help identify any serious structural defects, as opposed to a more cursory one.

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8. Using the wrong solicitors. If you are thinking of buying a new home, then ask friends for their personal recommendations. Sales can sometimes fall through if the seller loses patience with the buyer's solicitors.

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9. Not double-checking commuting times. If you have been told that you will be in Waterloo in 45 minutes from your new home, make sure that is accurate.  

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10. Viewing just in the morning or evening. Driving or walking past before work, at lunchtime and later at night, will help build up a better picture of your new home.

Are you looking to sell, buy, let or rent? Contact your local Winkworth office, visit www.winkworth.co.uk/branches.

- See more at: http://www.winkworth.co.uk/articles/what-are-the-biggest-mistakes-people-make-when-buying-a-home

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