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바늘 도둑이 소 도둑 된다

Are you looking for a home to buy? Do you know which homes are worth your time and which ones are totally better off left alone on the listing?

The thing about some home buyers – most of which are rookies – is that they get so excited about buying their new home and getting the whole process done that they just go at everything that they think is worth their time.

Also, remember: 바늘 도둑이 소 도둑 된다 ! :)

So they end up going after everything – spending time in open houses, meeting owners, meeting agent after agent after agent – and wasting time, effort, and energy and maybe overhead costs in the process. The most common mistakes they make is going after: (1) the cheapest home in the listing; and (2) the one with the best photo.

More often than not, they are a huge disappointment and by the time the home buyer realizes this, he’s already spent time and effort on it. Time lost. Energy lost. Too late now, as that other option to buy a condominium unit is gone, because it has already been bought. Boo hoo… :(

So before you get so excited about the first photo on the listing, here are the five types of houses on property listings that you had better crash off your homes to visit list:

  •  The house that’s been there the longest. We all know that the best time to buy real estate isn’t always– and there’s this one property that seems to “sit pretty” for far too long among other houses for sale.There’s a reason why the houses are at the bottom – they did not sell. And homes that have been on the list for longer than three months is a red flag; one that’s been there for over six months should be totally off your list. There’s definitely something about the house that makes prospective buyers shy away from it and you definitely would not want to add up to the list of turned off buyers. Who knows – it can be anything from bad owners, sloping homes, bad neighborhood, and pest infestation.
Real Estate MONEY! Graphics courtesy of Kim Dang Joo, KDJ Designers Inc
  • The cheapest one around. Do ignore this warning if you are actually looking for bad homes to renovate and remodel. That would be okay, since in that case, you’d likely be aware of the bad sides of the house. But if the house looks decent and the price does not seem to match the look, you might not get the ‘good deal’ you think you’re getting. OK, maybe myHabitat is cheaper than, say, Setia Sky Hill, but you get what you pay for.
  • The too-good-to-be-true home. Some realtors and some owners have had a little too much time and creative juices to spare that they make the best, most impressive thing on their listing. If the home is too perfect – too impossibly perfect – be warned. It may not be as good as it seems unless you live in a Utopia. This is much easier for the experienced home buyer because they would have realistic expectations for the home they’re getting. This is tricky for the first time buyers though.
  • The best one in the neighborhood. One good way to gauge a house is to compare the ones that are most similar in the listing. If one home seems way too good in comparison with its neighbors, you might want to take a step back before getting into it. It could cost you so much more in actual price.
Posted on 13th August 2013 in NoDutDol Everyday Tips, Real Estate Tips  •  Comments are off for this post

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