Being a first-time homebuyer is exciting and it's easy for your imagination and ambition to carry you away on a house that might not be the best fit for you or your lifestyle. Here are 5 homes to avoid for first-time homebuyers:
1. Fixer Upper - Fixer uppers are great... on television... but often not so great in real life. If the fixes are more cosmetic in nature like paint and flooring, then it might be doable. If the fixes are more complex and involve removing ancient paneling, cutting into walls or major projects then it's best to consider if you want to spend the majority of your free time and a good bit of money on fixing up an older place.
2. Outdoor Oasis - It's easy to be wowed by a sparkling private pool in the backyard or a sprawling vegetable garden brimming with fresh foods and herbs. The truth about backyard wow-factor is that it usually requires more upkeep and maintenance than most people realize. That sparkling pool takes cleaning, chemical upkeep and more. That vegetable garden requires watering, harvesting, replanting, avoiding animal activity, mulching and more. While that outdoor oasis might take your breath away, it could also steal your weekends and free time with major upkeep.
3. Big Bargain - Found a great house that seems like a bargain that's too good to be true? Ask yourself why. Why is this great bargain such a steal? Sellers are generally out to make as much from any sale as possible. Often when you find a home for a price that seems too good to be true, there's a reason. It could be that the home is located in a nightmare neighborhood. The area could have terrible schools. There could be a nuclear reactor two streets over. Whatever the reason, the chances are that when you are ready to sell, the same issues could keep you from getting the sales price you deserve and you could end up selling it for the same bargain you bought it for.
4. Alice in Wonderland - A house that is too big or too small is simply the wrong size no matter how you look at it. A house could meet all of your other needs but if it doesn't meet your needs in terms of size, that tad too small or tad too big will grow over time until it becomes dreadfully unbearable.
5. Investment - Similar to the Big Bargain on our list, the Investment is a house you get at a screaming good deal that seems worth the investment. However, this house is nearly always located in a nightmare neighborhood or bad school district. Many couples who don't have kids will look at this home as a "good investment" in a starter home until they're ready to have kids, at which point they plan to sell and move to a home that meets their family needs. Don't be fooled by the investment starter home in the nightmare neighborhood. When it's time to sell, you could have a harder time selling as the pool of buyers will see the nightmare neighborhood for what it is and avoid it and your listing altogether.
Buying your first home is exciting! That excitement can quickly turn to dread if you choose the wrong home for your lifestyle or your needs. You could end up sinking time, effort, money and even years into a home that you quickly regret buying. It's important to share your needs and desires for your first home with your Century 21 Broadhurst agent so they can steer you well clear of these homes to avoid.