Top Three Don'ts When Buying a Las Vegas House
Are you the kind of buyer who commits common home-buying mistakes? If you want the best deals, follow these simple don'ts:
- Don't be a trigger-happy spender. Be sure you have a stable monthly income and you have a substantial amount in your bank; ut if you spend a large chunk of your money on a new and luxurious convertible about the same time, you won't have enough to pay for your monthly home mortage. Before you know it, you've wiped out a year's savings with a single impulse buy. The Las Vegas market is HOT but that shouldn’t effect your buying habbits.
- Don't trust your broker or seller with a "good faith deposit". Remember, you can never trust anyone too much, especially if it involves a huge amount of money like home down payment. For all you know, it eventuality might come up that the deal does not push through at all. Asking for a refund in such cases is often very difficult and worse, the seller or agent might have been tempted to spend the money thinking that final negotiations will go on smoothly.
- Keep your emotions in check. Be cool and collected during the entire home-buying process. It's likely to find something not to your liking during the open-house where you actually see every nook and cranny. But if the current owner refuses to do repairs that you wished done before you move in, don't argue or sound too desperate over it. In the real world, there's no such thing as a perfect home. There will always be a little bit of something that needs to be repaired and re-touched, so be reasonable. Don't let small stuff, like a little chip on the wooden stairway, keep you from owning a beautiful home. On the other end, don't be head over heels in love with the house to the point of spending more than its real value. If the repair would cost you half of the actual amount of the house, drop the deal and widen your options. You'll never know, there might be a better house just a block away.
- Don't be a trigger-happy spender. Be sure you have a stable monthly income and you have a substantial amount in your bank; ut if you spend a large chunk of your money on a new and luxurious convertible about the same time, you won't have enough to pay for your monthly home mortage. Before you know it, you've wiped out a year's savings with a single impulse buy. The Las Vegas market is HOT but that shouldn’t effect your buying habbits.
- Don't trust your broker or seller with a "good faith deposit". Remember, you can never trust anyone too much, especially if it involves a huge amount of money like home down payment. For all you know, it eventuality might come up that the deal does not push through at all. Asking for a refund in such cases is often very difficult and worse, the seller or agent might have been tempted to spend the money thinking that final negotiations will go on smoothly.
- Keep your emotions in check. Be cool and collected during the entire home-buying process. It's likely to find something not to your liking during the open-house where you actually see every nook and cranny. But if the current owner refuses to do repairs that you wished done before you move in, don't argue or sound too desperate over it. In the real world, there's no such thing as a perfect home. There will always be a little bit of something that needs to be repaired and re-touched, so be reasonable. Don't let small stuff, like a little chip on the wooden stairway, keep you from owning a beautiful home. On the other end, don't be head over heels in love with the house to the point of spending more than its real value. If the repair would cost you half of the actual amount of the house, drop the deal and widen your options. You'll never know, there might be a better house just a block away.
posted by realestatevegas | 10:39 AM
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