Tips On Avoiding Homebuying Mistakes

Thursday, March 1, 2001

(NAPS)—With the homebuying season underway, many consumers are looking for ways to lessen the frustration involved in the process. “Buying a homeis a major investment and there is no sub-* stitute for taking time to educate yourself,” ™ says David Weekley, president of David Weekley Homes. Here Taae Avoiding common mistakes can make the he lists 10 common homebuying process simpler and less stressful. homebuying mistakes and suggestions for avoiding them: 1. Not doing your homework. Enter the market well-prepared by researching location, school district, deed restrictions andtaxes. 2. Trying to make a shrewd investment. Focus on finding the best place for you and your family to live rather than trying to predict the real estate market. 3. Choosing a poorlocation. Consider what part of town you would like to live in and avoid homeslocated on busystreets. 4, Overlooking an inferior floor plan for an attractive exterior. Choose a great floor plan over a great exterior because you'll spend far more time inside the house than outside. 5. Overlooking how the homewill function for your family. Consider features that are most important to your family and choose a home that will meet those needs. 6. Not having the home properly inspected when buying a resale.Hire a state-licensed, professional inspector to evaluate the home’s true condition, which could save you thousandsofdollars in repairs and maintenance. 7. Not having the home properly inspected when buying a new home. Research the number of homes sold, homeowner satisfaction, years in business, industry recognition and warranties offered. 8. Not getting what you want because you’re impa- tient. If it’s a used home, allow time to negotiate and get the best deal possible. Refusing to rush the process could save you $5,000 on the purchaseprice. 9. Waiting for a better time to buy based on the market and interest rates. History shows that those who purchased homes and kept them for three to five years or moredid better than those whodidn’t. Waiting is one of the biggest mistakes a homebuyer can make. 10. The biggest homebuying mistake is not buyingatall. Buying a home will give you a place to call your own and allow you to take advantage of tax breaks and build equity. For more information about David Weekley Homes, visit the company’s Web site at www.david weekleyhomes.com

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