House Hunting Mistakes: Sidestep 10 Common Rookie Pitfalls

Our first-time buyer’s SAS survival guide

Yes, buying a home can feel like navigating an assault course on SAS Who Dares Wins – stressful, intense, and you might end up on a cliff edge in a rickety old studio flat, wondering how you got there in the first place. Because homeownership isn’t just about finding a place to live; it’s about investing in your future, building equity, and creating a space that reflects your personal style and needs. With so much on the line, it’s crucial to approach house hunting with a level head and a well-thought-out strategy – just like a special forces operator. The process can be overwhelming, with countless factors to consider, from location and budget to the nitty-gritty details of the home itself. To navigate this complex journey successfully, you need to keep your emotions in check (Sergeant Foxy approved) and make decisions based on logic rather than impulse. Your ultimate goal should be to secure a home that fits comfortably within your budget while meeting your needs and aspirations. So pop the kettle and your helmet on, and let’s (safely) dive into the top 10 dos and don’ts of buying your first home.

1. Shopping in Hampstead on a Tottenham Budget

Try to avoid common house hunting mistakes by sticking to homes within your financial reality and start your hunt at the lower end of your price range. It’s time to decide whether you want to prioritise location (hello TimeOut recommended restaurants on your doorstep), or the house itself (well hello there access to your own private garden). Unfortunately it’s rather tricky to find both on a limited budget.

2. Skipping Mortgage Pre-Approval

Amongst other common house hunting mistakes is thinking you know what you can afford. Think again. The bank might have a different idea, especially if your credit score has seen better days. Rather than looking to get pre-approved for a loan (such as an AIP / agreement in principle), we’d suggest suggest talking to a broker about your circumstances and finances to get a real idea. Otherwise, you could be wasting your time and potentially crushing your own dreams should the bank decline.

3. Acting Faster than a Love Island Fling

Compromise is key, but don’t settle for a house that will make you miserable. Keep looking until you find something that works for you. Online property websites are your friends; you can browse hundreds of homes in your pyjamas with half an eye on Love Island. We’d recommend making a list of five ‘must haves’ and 5 ‘must not haves’ so that if it “looks good on paper, hun” you can swoop in and make your offer sharpish.

4. Doing It Solo

Rolling solo into your property journey? House hunting mistakes 101- Rookie move. Us estate agents are like your knowledgeable house-hunting sidekicks—we know the game and are duty bound to look out for your best interests. Plus, about 86% of buyers use one these days, according to the National Association of Estate Agents. Don’t be the odd one out.

5. No Vision, No Glory

Don’t let hideous wallpaper or a neon-pink bathroom turn you off. If the house ticks the right boxes in location and size, you can always channel your inner Kirstie and Phil and fix it up later. Equally, don’t be dazzled by cosmetic fixes. That fresh paint job could be hiding a multitude of sins.

6. Ignoring the Elephant in the Room

Look for homes with potential that hasn’t been realised yet, but don’t bite off more than you can chew. A fixer-upper can be great, but make sure it’s within your budget and ability. If you start and can’t finish, you’re stuck with an expensive half-finished project.

 

7. Forgetting to Ask About the Neighbourhood

It’s not just about the house—think about where it’s located. Consider future development plans, traffic patterns, zoning laws, and local amenities. Check if home values are trending up or down in the area. You don’t want to end up in the middle of a construction zone or a ghost town.

 

8. Rushing in Like a Bull in a China Shop

Found your dream home? Brilliant! But don’t rush the offer. When it comes to house hunting mistakes, people often make the rookie move of not scouting out the area. Make sure the neighbourhood isn’t dodgy at night and check for potential noise issues. Take time to research and offer a reasonable price based on the property’s real worth.

 

9. Too slow!

Finding the balance between rushing in and waiting is a true art. Take too long, and someone else might snap up your dream home. House hunting is time-consuming and can disrupt your life, so be prepared to act when the right opportunity arises. We can help you with this too.

 

10. Overpaying in a Bidding War Frenzy

Bidding wars can be like an intense auction scene in a heist movie—don’t get caught up in the frenzy and over pay, leaving you stuck paying the difference. Check comparable sales and get your estate agent’s input before making an offer.

 

The Final Interrogation

Is It Hard to Buy a House?

Buying a home is like a marathon, not a sprint. It takes time, effort, and money. However, with a good estate agent and a solid game plan, it can be an exciting and rewarding experience. *waves*

Should I Buy a Fixer-Upper?

If you’re handy or have the resources to turn a fixer-upper into your dream home, go for it. Just remember, fixer-uppers are cheaper upfront but can be expensive to renovate.

Why Is Location Important?

Location, location, location! It’s crucial for the value of your property. Homes in high-demand areas tend to be more valuable. Look for accessibility, neighbourhood amenities, and future development plans.

As you know by now, buying a house is a major decision, so make sure you’re making smart, rational choices just like Foxy and his special agents. With the right preparation, you can avoid costly mistakes and shop with confidence.

Contact us:

mark@daviesdavies.co.uk – Sales Director (contact for sales, lettings and new homes)

katrina@daviesdavies.co.uk – Head of Property & Block Management (contact for property and block management)

020 3820 2492

Davies & Davies Estate Agents, 85 Stroud Green Road, London, N4 3EG

Article & images by Barefaced Studios

You might also want to read other useful blog articles by clicking here.


Please note that all content contained within our website is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. We advise seeking professional advice from a legal, financial, or other professional.

1 August 2024
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