Avoid These 5 Emotional Mistakes Made By Homebuyers

March 2, 2012

in News

Avoid These 5 Emotional Mistakes Made By Homebuyers

Real estate agents say emotional mistakes are common among homebuyers, who sometimes let good deals pass them by. Or worse, buyers overpay for their “dream homes” because they let feelings cloud their judgment. But buyers shouldn’t beat themselves up for getting emotional. Buying a home is often the biggest purchase a person will make. Buyers should be aware of emotional mistakes many of their peers make. Here are five common errors, with advice on how to avoid making them. Every market has its up and downs, but today’s market has conditioned homebuyers to make the mistake of thinking there’s always a better deal just around the corner. While it’s true prices could drop further (and mortgage rates might decline), it’s not a good idea for buyers to play the odds now, says Eileen Meehan, an associate with Re/Max Properties in Saddle River, N.J. “Be smart, do your homework, know the value of the area and the home you are buying, and be sure it meets your family’s needs,” Meehan says. [Read this article]

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