5 Mistakes Fort Lauderdale Real Estate Buyers Make

Fort Lauderdale Real Estate Buyers & South Florida Buyer Mistakes

 

1) Attempting to purchase a condo or home without consulting a realtor.

If you are not a professional or a real estate expert, buying a house without a Realtor can be a mistake. Fort Lauderdale Real Estate Buyers need to find a Realtor who is knowledgeable in the market and can spend quality time with them. South Florida and Fort Lauderdale are quite different from other areas due to their diversity. They will do all the paperwork, research and protect your purchase. The seller will pay the commission, which will reduce the risk and headaches you might experience without one.

2) A Realtor who does not know the market and the area.

Please! Please! Please! You will be disappointed if you don’t find a Realtor who understands the value of condos and townhomes. You need someone who is familiar with the area and can help you find the right home or condo. Only a professional Realtor will be able to find you the ideal home if they know the area, its prices, amenities, and the value of the surrounding areas.

3 ) You think that prices are too high

There is no way to predict the future, and every area in this county has different prices. Many people attempt to predict the movements of the Real estate market. It’s impossible as nobody can predict what will happen to any market, real estate or securities. For example, a condo in Manhattan’s middle is likely to be ten times more expensive than a Fort Lauderdale condo.

4) Thinking that buying property is an investment

A home can be considered an investment by most people. However, this is only true if you are a real investor. True investors are those who seek a return on their investment and want a steady cash flow. True investors purchase multiple units, commercial properties, and other types of real property. A buyer should consider the possibility of renting or selling a property. You are purchasing a home that you will live in and enjoy the surrounding area. If you have the funds to pay the taxes, mortgage, and other costs associated with the property, money is not your primary goal.

A mortgage on the property can be a forced savings account. The mortgage is paid and the equity builds. As the years go by, you can make more money if the property is sold at the right price.

5) Your agent may not properly qualify you

You are wasting your time if your agent doesn’t ask every question you have. Your budget should be known by the agent. When it comes to the negotiation of the property’s price, the agent should know if you are paying cash or financing. If financing is an option, the Realtor will need to help you obtain bank qualifications. It is important to choose the right location for you! What are your motivations for buying this property? The Realtor cannot read your mind. They should sit down with both of you to discuss your preferences and search properties on the Internet. This should be a process that involves elimination. You should not be tempted to buy a few properties from a Realtor thinking you will love them.

This post was written by Dayana Susterman Dotoli. Dayana is the head real estate agent for the Tiffany House In Ft. Lauderdale Beach. Dayana has assisted over 150 individuals with buying, selling, and leasing at Tiffany House. The Tiffany House Residences is a 12 story tower,  offers 129 residences, including 1, 2 and 3-bedroom condominiums and townhomes, with exclusive, resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. Looking for a condo at Tiffany House Fort Lauderdale for Rent? Contact us today!