As the founder of Enrich Buyers Agency, I’ve seen countless property journeys – both successful ones and those that could have gone better. Today, I want to share some insights that might save you from costly mistakes in your property buying journey.
Last week, I met with a client who had previously attempted to purchase a property independently. Like many buyers, they thought they’d save money by going solo. But you know what? Eighty-two percent of home buyers express regrets about their recent property purchase, according to a new survey from Clever Real Estate. Their most common regret: buying a home that requires too much maintenance. Here are three often-overlooked aspects that can significantly impact your property investment:
- Building and Pest Issues: During my several years of experience in real estate, I’ve seen beautiful properties hiding serious structural issues. The average building and pest inspection costs around $500-800, but missing hidden problems can result in repairs costing tens of thousands. Recently, one of our clients almost committed to a property that had undisclosed termite damage – something that would have cost $10,000 to rectify.
- Future Development Impact: I’ve seen numerous cases where nearby developments have significantly impacted property values – both positively and negatively. Just last month, we prevented a client from purchasing a seemingly perfect home, after discovering plans for a major commercial development nearby that would have significantly impacted their property’s value and lifestyle.
- Market Value Disparities: In today’s market, with property prices shifting rapidly, determining true market value is more challenging than ever. Figuring out what a house is really worth is like trying to hit a moving target.
As your buyers advocate, we don’t just find properties – we protect your interests and future investment. Want to learn more about how professional guidance can save you money in the long run?
While these insights are based on my extensive experience and industry reports, I always encourage potential buyers to conduct their own research and due diligence.