Connect with us

Home & Living

5 Common Mistakes People Make When Buying a House

Published

on

If you have bought a house before, you will know that it is a complicated process. Between the unfamiliar terminologies and strenuous logistics process involved in house buying; it is very easy to make a wrong move that will result in an ill-advised property investment. 

If you are a https://qqbotak.site/,save yourself some trouble by learning all about the mistakes you should avoid when buying a house for the first time.

 

  • Not deciding your house affordability budget

 

The first mistake you will make is to venture into house hunting without first determining your house budget. This may cause you to spend too much time looking at houses you cannot afford, or visiting properties that are way below your expected price.

For many first time buyers, the idea is to get a house mortgage with a comfortable monthly repayment, but when you fail to prepare a budget for your house, you may end up taking out a loan that will give you sleepless nights. 

To avoid this type of mistake, it is a good idea to use some form of mortgage calculator to help you know what to expect when seeking financing. 

 

  • Settling for just one quote

 

Shopping for a house is like shopping for any other thing in the sense that you have the freedom to compare different prices in order to get the best deal.

This means that you just don’t sign up with the first mortgage provider you come across. Mortgage rates varies from one lender to another and taking time to explore all the lending options available to you mean you may find a deal that best suits your circumstances. 

To avoid losing out on good deals, closing costs, and discount points, apply with multiple mortgage providers. You will be able to save hundreds of dollars in a year just by comparing offers from multiple sources. 

 

  • Not checking your credit report and score

 

Do you know that almost all mortgage providers will request your credit score and ratings before considering your mortgage application? They do this to confirm that you are not a debt risk before giving you the money you need for your new house. 

If you have poor credit, you may be unable to secure mortgage for your house, and even if you do, you will end up with huge interests and heavy mortgage rates. 

To avoid this, you should check your credit before applying for any form of loan. Once you notice that your credit score and rating is not in top shape, you should take steps to correct it. A good credit score and report is integral to getting a good mortgage deal for your new house.

 

  • Making a small down payment

 

You will be required to make some down payment before buying a house. The down payment amount is usually around 20% of the value of the property, and the bigger down payment or deposit you are able to make, the better deal you will get.

One of the mistakes first time buyers say they make is failing to save enough money for the initial down payment. This resulted in bigger mortgage that may be difficult to handle. 

Deciding how much to put down as initial deposit is a decision you have to take yourself. However, you should know that the bigger amount you can pay, the smaller your mortgage. The downside is that house prices may increase while you are trying to save enough to make a bigger deposit. 

Exploring house purchase funding options is one of the first-time house buyer tips you can use to avoid hefty mortgages caused by small down payment. There are programmes that give certain amounts of money to first time buyers to help them buy their first house. 

 

  • Not considering repair and renovation costs

 

A lot of first time buyers are seriously surprised to discover that they will have to spend a lot of money on repair and renovations. This is because they fail to consider that the house they are buying may need repairs done to make it habitable. 

Also, where repairs are considered, most first time buyers make the mistake of calculating a really low repair cost. This may be unintentional, especially if they get an estimate from a contractor. But as the repairs proceed, the work will begin to consume more money than budgeted.

To avoid this mistake, always assume that any house you buy will require some work done on it to make it habitable. You should also never settle for one repair estimate from one source. It is always better to seek multiple opinions on what needs to be done in a new house, and get multiple estimates so that you can plan your expenses properly.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Home & Living

5 Cool Window Covering Designs For Your Basement

Published

on

Are you planning on replacing the windows in your basement? It’s worth the hassle if you find a modern design you love, but it costs lots of money. You’ll need to find a way to improve the look of your room while you save up. 

Let’s discuss a few window covering designs that will help them look bigger and fancier. It should please whoever is sleeping in your basement at the moment. You’ll be able to recreate one of these ideas over the weekend. 

1. Add Trim To Your Windows 

If you browse the designs available at Canadian Choice Replacement Windows & Doors, you’ll notice everything looks good. Windows without trim look like little holes in the wall. It’s not something you’d find in a real bedroom.

Basement

Basement

You’ll discover lots of window molding options in your local Home Depot. Don’t worry about messing up when trying to attach the trim because it’s pretty cheap. Your basement windows will automatically look expensive. 

2. Make Windows Appear Bigger 

If you attach recycled shutters below your Peterborough windows, it will make them appear much bigger. Unless someone is looking at them closely, it will look like the shutters are covering the bottom half of your windows. 

You might need to add a little trim when working on this idea. If you use your imagination, I’m sure you’ll think of other ways to make it look like your windows run further down the wall. Sadly, it won’t let more light inside. 

3. Playing Tricks With Mirrors 

Mirrors will also trick people into thinking your windows are larger. It will only work if you hang them directly above your windows. You can use trim to make them look like they’re part of the overall design. 

Even though people won’t be able to see outside when looking at the windows, it will appear as if you can look through them, but you’ll only be looking at the basement. Rooms will look brighter because sunlight bounces off the glass.

4. Angle Windows For Extra Light 

You can angle the drywall so it comes down like a slope, which will allow more light into your basement. It will feel like the window is a lot bigger, but it will look a little unnatural compared to the windows upstairs. 

It’s maybe not the best idea if you plan on replacing your windows soon, as you’ll need to put a bit more work into it. Your drywall will need to be pulled down and replaced once the framing has been changed. 

5. Hang Long Drapes From Windows

Long drapes will make the windows appear taller, but they could make your basement look strange. You will need to find a way to cover the walls below your windows. We’ve already mentioned shutters, but there are easier ways.

You could put a desk under your window, which wouldn’t be a waste of space if the basement dweller used it for work. If you have beds on either side of the window, you can put a table and lamp underneath it.

 It’s Only A Temporary Solution 

These ideas are great if you want to improve the look of old and tired basement windows, but you should save for new windows as soon as possible.

Continue Reading

Trending

%d bloggers like this: