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Buying a home is not an easy task, and for some it can be even more complicated. The housing market is always changing which means new regulations and requirements are constantly being put in place. One of the most important factors to consider is location as it can dramatically impact your daily life and lifestyle, but there are many other mistakes that come with buying a home. New homeowners are typically thrilled to take ownership of their new homes and are often excited about the prospect of designing the perfect home for themselves and their family, but they can also be easily overwhelmed by all of the choices they have to make. As a result, homeowners sometimes experience buyer’s remorse and regret after purchasing their homes.

The following are some of the before and after mistakes some new homeowner made.

Not understanding the market or future development around the area can be one of the biggest mistakes that someone can make. Even with all of the information that can be found online, it is still important to conduct your own proper research or engage a licensed property agent to guide you along with the right location knowledge and updates. URA website is a good place to gain some knowledge on the current and future plans for Singapore.

Using the wrong property agent that act on his or her own interest instead of your interest is bad if you did not know about it. It is important to work with a qualified property agent who will help you make an informed decision based on your criteria. This can be one of the most important things to consider as you will be the one who will be spending a significant amount of money and time in your new home. Choosing a property based on emotion rather than on your criteria can be one of the biggest mistakes people make. It is important to make your main criteria clear from the start and communicate this to your property agent so that only those listings that fit in your main criteria will be shown to you.

Negotiating too hard for the right purchase price and end up missing out on the deal is another common mistake that new homeowners make. There are instances where it might be more beneficial to purchase a property at a lower price because of the current situation of the market or purchase at a higher price if it totally fit into your criteria and the property is the perfect one with no alternative available. Sometimes even if you get a cheaper identical house next block or around the corner but the feeling when you are in that particular house is totally different will keeps digging into you as times goes by. You will feel that paying another ten or twenty thousands more to get that right is actually more worth it than saving the money but missed out on the house that gives you the right feel.

Overspending on renovations they don’t need is another mistake that can be made. Expensive renovations can get you in trouble if you choose the wrong renovation company that do a bad job or even worse, do no job at all and go bust. Many people overspend on their renovations by skipping out on DIY projects and using more expensive but no necessary better materials. This often leads to bigger financial outlay or renovation loan, which can then lead to a sense of financial urgency and pressure. The best way to avoid this is to follow your budget and hire the right renovation contractor. Ask your friends for recommendations if they have engaged one before and know how good or bad is their workmanships.

In conclusion, it is important to be mindful of the mistakes home buyers make. Simply being aware of these common errors can help one avoid them and save a lot of time and money. If you’re looking for a new home, you should be careful not to make any of these mistakes. There are also many things that can go wrong in a contract negotiation. It is essential to have a knowledgeable agent by your side. It’s worth it to pay an expert to negotiate on your behalf and potentially save you from costly mistakes. If you are buying private property or new launch property, you don’t even have to pay your agent as they will get commission sharing from the seller’s agent or developer’s sale team.