4 "Big Regrets" to Avoid When Buying a Home (Part 4 of 5)

Research to get local facts on location preferences and avoid future regrets.

Regret #3: Buying a “Money Pit” = Fear of Missing Out, Instead of Learning as Much as Possible

Impatient buyers who jump into a purchase, pressured by multiple offers, egged on by deceptively clever staging, or who skip a home inspection can run into unwelcome expensive surprises. A house can “look” great but be full of problems: bad wiring, old plumbing, insufficient insulation, water leaks, structural issues, and other costly headaches. For example, these problems often materialize when “gut it” renovations are conducted to create the much-touted open-concept main floor. Open-concept homes, where kitchen, living room, dining room, and perhaps family room are combined as one wall-less space, can end up being considerably more expensive than budgeted for.