2. Buying in Unfavourable
Market Conditions

You need to learn to be patient and buy in a favourable market for you. This is called the buyer’s market. It all comes down to supply and demand. If there aren’t many houses up for sale but a lot of people looking for houses, the housing market is going to favour sellers.

They’ll be able to sell their property at a higher price than they would in a buyer’s market. You really want to try to hold off until there are more houses for sale and less people are buying.

You’ll get a better price on your house because more or less people looking at more available houses means sellers have to make their home as appealing as possible in order for it to sell. This often means doing upgrades to the home and lowering the price, making it the ideal time for you to buy.

Do a little research into the market in your area. If you aren’t sure what to do with the information you find, talk to a reputable real estate agent to help you make sense of the information you have.

 

3. Looking for suitable Homes in the wrong neighbourhoods

It is important to note that the kind of home you get will much depend in the neighbourhood you are finding house in.

It is far too common to see first time property buyers looking for their dream homes in the wrong area.

Due to low finance it is very common not to find a suitable property that they want.

Most of their dream homes can possibly be found in more developed city area and affluent suburbs which most often are beyond their budget.