Without the proper help, it’s easy to make a mistake when purchasing a home on the Outer Banks. Some mistakes are bigger than others but almost all can cost you money in the long run. Here are three common mistakes OBX buyers make.
Not getting a market analysis: Prior to buying most buyers look at numerous homes. During their home search they’ll compare the features of each property and make a judgment call on which one is the best value and/or best suits their needs. If you are basing your offering price on what is currently on the market you might over pay. How do they know what is realistic for a sales price? Have your Scott Team Realty agent provide you information on similar homes that recently sold. Especially in a buyer’s market, knowing what other buyers recently paid and how that purchase compares to the house you are considering will help you better gauge what a property is worth.
Not fully completing your due diligence: Some buyers try to save money by skipping a home inspection, a pest inspection or a survey. Some just fail to take the time to look over covenants and restrictions. Once you close on the property it is too late to go back to the seller if you missed one of these or other important items. During your due diligence period, ask your Scott Team Realty agent to help you find the proper professionals to help you discover problems as well as anything else that might affect your decision to purchase the property.
Not buying for the future: Buyers sometimes purchase a house for a specific current purpose that does not work very well for the long run. For example, they may purchase a house on a lot that can not be expanded. When their family grows they out grow the house. It is a good idea to look at both the short term and the possibilities in the long run for the property. That may mean checking on municipal ordinances for future expansion or simply deciding if the floor plan or location will suit a different future use. Your Scott Team Realty agent deals with these types of issues on a regular basis and is there to walk you through the buying process.
An OBX home should always be a place of good memories and great times. Allowing a Realtor to help you during the purchase process can make a big difference on your long term happiness with your Outer Banks property.