The pitfalls of buying a home

(FOX Providence) - Spring is a great time to put your house back on the market. But, in order to make the best decision about your new home, there are some rules you should follow.

Stephen Antoni, President of the Rhode Island Association of Realtors , joined The Rhode Show with more.

What are some of the pitfalls that buyers should avoid?

A: Don’t let your emotions rule your decisions. There’s no doubt that you should feel a connection to the house you choose but you have to be practical. Make sure it has as many of the things that you want as possible but no major negatives.

For example, say you find your dream house on a quarter of an acre lot but you have four kids and you really need room for them to play. The lot size may not be large enough for you, even if you really love the house.

You also need to look ahead…think resale. Are the neighbors’ homes relatively on top of each other and will that limit you when you try to sell it in the future?

Remember, you may be able to repaint or put on an addition, but there are some things you can’t change, so make sure you can live with them. Weigh the trade offs carefully before you buy so you don’t have to deal with the consequence of a poor decision.

How can people narrow in on the homes they should be buying, not the ones they want, but really can’t afford?

I can’t stress this enough: get pre-qualified. Then you can narrow your search to real prospects, not just fantasies.

And, if you find a house that has everything you want and the price is under your pre-qualification amount, but the price is pushing up against the limit, think long and hard.

Home ownership involves expenses like repairs, new appliances or furniture. You want to make sure that financial limitations won’t distress you and stop you from fully enjoying your new home.

Any other advice?
Don’t “go it alone”. Thanks to advancements in technology, there’s a lot of information out there that buyers can get without the help of a Realtor.

But finding a good Realtor who knows the area that you’re looking in is crucial. They’ll be able to educate you about neighborhoods, the sales history of a certain area or home, the school system, taxes…..all the things that you should know before purchasing what will most likely be, your biggest investment.

Plus, they’re skilled at negotiating. They do it everyday. When it comes time to make an offer and go through the purchase process, the expertise of a Realtor is invaluable.

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