Top 5 Things in the List of Home Owner’s Regrets
When buying a house, it is important to think very well before signing the contract. A home buyer has to be wise in every aspect ensuring that he or she has seen and anticipated future needs.
If intelligent decision-making is not involved, a home owner might just end up confronting the top 5 common things in home owner’s list of regrets.
The wish for a larger home The size of the family is a variable factor. You and your partner might just decide to have a new baby. Adult children of yours might just cohabitate or marry someone. Yet because they are just beginning, they could end up living with you at first. Not buying a larger house is a common regret of many home owners who did not anticipated an expansion in the family. At times, some relatives might also come over for a week, a month or more of vacation. The wish for more remodeling and improvement The house should always be fitted with the needs of the family. However, because of initial appeal, there are home owners who just forget to implement changes to some parts of the house to make it more comfortable and functional. The regret of not implementing the necessary improvements and remodeling is also common among home owners. For instance, the playroom will have no obvious function in a family whose children have turned teenagers. It is more functional if this room will be converted to a study room or a mini library. The regret for not obtaining more information about the house they bought The specifications which home sellers provide is not enough to decide whether you will be comfortable or not. Thorough information about the house as well as the community it is found should also be obtained. This is to prevent a life that is twinned with fear and other problems bought by a disorderly neighborhood. The regret of not putting more down payment Down payment is an essential factor towards owning a house. It is a certain amount of the total purchase price of the house paid to the seller. The computed amount is usually the balanced price as determined by the home financing institution or by the real estate company. However, some home regret the opportunity of paying more down payments because they are financially able. They just end up paying more than what should have been paid. The wish for more financial security before purchasing the house The monthly payment involved with the house purchase goes against the total budget of a home owner. It is an obligation that when not fulfilled can lead to more serious problems like repossession of the house, increasing debt, and inability to pay for other financial obligations. Many home owners who are now facing problems relevant to their monthly home amortizations wished they have assessed their financial security before the house purchase. To avoid the same regrets, follow this – know the house, assess your needs, and assess your finances.
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