10 biggest home-buying mistakes
David Weekley, CEO of Houston-based David Weekley
Homes, is one of the country's largest home builders and also the
author of a new book, How to Buy a Home Without Getting Hammered.
Based on 25 years of home-building experience for 30,000 people,
Weekley offers these 10 biggest mistakes in home buying:
Not doing your homework. Knowledge is power. Tremendous information
is available on the Internet. There is no excuse for entering the
Trying to make a shrewd investment. People need to buy based on
what fits their family. Don't try to guess what will happen to the
Choosing a poor location. Even within a neighborhood, location
matters. Is it on the busiest street? Is there a shopping center
out the back window?
Overlooking an inferior floor plan for an attractive exterior.
It may have gorgeous curb appeal, but you don't live on the lawn.
No matter how attractive the exterior, you need a livable home.
Overlooking how the house will function for your family. How do
you really live? Do you really need a formal dining room and living
room? Would you be happier with an eat-in kitchen and a great room
and a den to use as a home office? The house only needs to fit one
family -- yours.
Not having the home properly inspected in a resale. This is not
the time for surprises. Get an inspection from a qualified, respected
Not checking out the builder's reputation on a new home. Talk to
three or four people who live in the builder's homes and see what
they have to say. If one builder did all the houses in a neighborhood,
talk to the residents and get their input. (It's also a great way
to see what your neighbors would be like.)