5 Major Mistakes All West Chester and Liberty Township Buyers Should Avoid
Date: August 16, 2017
Last week I got a call from a former client and now, friend. Could she possibly be interested in buying another piece of real estate for sale in West Chester or Liberty Township, Ohio? She just closed on her new Butler County, OH home two months back!
But no, she wasn’t in the market for West Chester or Liberty Township houses for sale. She was calling me in a panic because her hot water heater just blew and her basement was flooded. Did she have any recourse?, she asked.
Unfortunately, no she didn’t. And unfortunately, despite my best efforts to convince her otherwise, she purchased her West Chester house for sale without performing a home inspection.
See, she had her friend join her while shopping for West Chester and Liberty Township real estate—a friend that supposedly had a lot of experience in the construction industry. She assumed he’d be able to point out any deficiencies so she could save on hiring a home inspector. BIG mistake. Turns out her friend is an electrician, not a plumber. Otherwise he may have noticed the hot water heater was on its last legs.
My client isn’t alone. Many first time homebuyers shopping for West Chester and Liberty Township homes for sale make similar mistakes.
If you’re in the market for Butler County real estate, don’t fall victim to these first time buyer pitfalls:
Not understanding what you can afford.
If I had a dollar for every time a client told me about their “dream home” I’d be a millionaire! But here’s the thing: the average first time homebuyer only lives in their new West Chester or Liberty Township home for seven years. Trying to extend beyond your means to afford a “dream home” can get you in financial trouble down the line. Go for something practical that meets your needs now and in the immediate future.
Not knowing West Chester and Liberty Township, OH real estate market trends.
I saw it in 2005 and I’m starting to see it again now. Eager buyers are getting in to bidding wars on properties for sale in West Chester and Liberty Township, driving up purchase prices. Yet there’s growing speculation that we might be on the cusp of a bubble; the investment you make today may not hold over time. It’s important to understand market trends so as not to get in over your head and later become underwater on your new Butler County home.
Blindly trusting West Chester or Liberty Township real estate agents.
This sounds strange coming from one of the top real estate agents in West Chester and Liberty Township, OH—right? Truth be told, not every agent is good at what they do. Some are more interested in collecting a commission than protecting their clients. Take some time to interview a handful of agents before choosing who will represent you.
Even when you have a West Chester or Liberty Township real estate agent you trust, don’t blindly take their word on everything (“Oh of course that wall can come down!”). Realtors may know real estate, but few have architectural, engineering or legal backgrounds. Consult other professionals as needed.
Not visiting a West Chester or Liberty Township property for sale multiple times.
I walked by a Liberty Township house for sale the other day and noticed it was across from a busy auto body shop. I thought to myself: If I were the listing agent, my gut inclination would be to show the Liberty Township property on Sundays when the shop was closed. This way people wouldn’t notice how noisy the equipment can be. I’m not the only Butler County real estate agent who thinks this way.
If you’re shopping for homes for sale in West Chester or Liberty Township, be sure to visit the property multiple times to get a good feel for the neighborhood and to spot anything you may have missed the first time around.
Not saving for big ticket items.
While replacing a hot water heater isn’t the end of the world, it can be stressful for the homebuyer who didn’t keep a rainy day fund for emergencies. My client was definitely not expecting to replace the hot water heater in the first two months of owning her new West Chester, OH home but anything can happen—and this means you should have some cash socked away just in case. Luckily for her it wasn’t something more serious, like a roof repair.
Look, nobody is perfect. We all make mistakes—particularly as first time homebuyers shopping for real estate in West Chester or Liberty Township!
Keep these pitfalls in mind and you’ll be able to prevent surprises (or at least, you’ll be prepared to respond to them!) down the line.
Want to learn more? Our agents are always available to talk to first time homebuyers about other pitfalls to be on the lookout for when shopping for a new home. It’s no coincidence that we’re ranked among the top real estate agencies in West Chester and Liberty Township, Ohio. ?