Location – Beside the Yukon river seemed romantic when you looked at the place, but did you really consider how it would work with your young children? Are you worried about safety? Noise? Pollution? Traffic? Don’t let the interior, price or decor cloud your judgment. The location is something you don’t want to have buyer’s remorse over.
Expensive – You don’t want to stretch so far to buy your new Yukon home that you become what is known as “mortgage poor” – not being able to afford the cost of living because your monthly house payments are too high. Find a good broker and use a great local agent – like me, and you should be able to get a great rate and the right place to match.
Inspection – Don’t ignore or forgo the home inspection unless you plan on tearing your new home down. Think twice about buying a home that needs big ticket items like the roof, siding, hot water tanks and appliances replaced. A great agent will use your home inspection to reduce the asking price if these items are in disrepair.
Renovations – Flip or flop might be a hit on TV but you don’t want to end up on the wrong side of flop. If you aren’t experienced with home renovations you should be made aware that they always take longer and cost more than you expect. That doesn’t mean they can’t be profitable if you do some initial planning. Make sure you have plenty of time and budget available in case of emergency or delays.
Prioritize – Not all items found on the home inspection need to be tackled before you move in. Make a list of anything that would affect your health or safety and then budget the rest of them in over time.
FSBO – You may want to avoid the pitfalls of a FSBO. More often than not they do not possess the professional training and experience required to negotiate real estate contracts for the purchase and sale of real estate. I have the experience to make sure that your transaction goes smoothly.