4 Biggest home buying fears (and how to face them)

Property purchase comes with skepticism, which usually makes buyers back off. If there is one big thing people commonly share when it comes to real estate properties, it’s the unavoidable fears and doubts that could block their way as they move along towards their new life. These fears can interfere with the decisions people make and make them reconsider. Regardless, these daunting doubts, worries, and questions must be faced in the wisest and most educated way possible.

1. Loss in Property Value

Property value can decline over time or due to specific situations. The environment around your house may affect the eventual valuation in ways that even savvy buyers wouldn’t expect. In the near future, the area around your house, might utterly change. You might see new buildings of sorts and new homes getting built, and many other pleasant or unpleasant developments take place – all causing fluctuations to your home’s value. No matter how hard you try to make your precious house as good as new, if the development of the surrounding environment isn’t getting a facelift, then nothing good will happen. Home buyers will refuse to notice your property, eventually reducing the value of your home.

The truth is no one really knows what will happen next. What we can do, however, is to take precautions. Choose a property near high-quality schools, top-tier buildings, and the like. Location matters

2. Overwhelming Maintenance Costs

There is no home that doesn’t necessitate maintenance, and maintenance usually comes with overwhelming bills. Clearly, there is no escape from the costs. Nevertheless, preparation is the key.

It is ideal to buy a new home as everything is expected to be good and new. Otherwise, you can choose a house that is well-maintained or has just been recently renovated.

3. Buyer’s Remorse

Buying dream home has been one of the ultimate goals of many. However, budget may get in the way, keeping you from getting the house of your dreams. This unsatisfying decision usually ends up with remorse. An easy solution for that is to walk out of the house. Sure enough, it sounds extremely hard. Nonetheless, there’s always plenty of fish in the sea. There are many other available properties that satisfy the concept of your dream house.

When it comes to keeping up with the budget, one neat solution for that is a wish list. On the list, include all the must-have home features you’ve been imagining inside your head. Set your budget and keep your list aligned with the Hong Kong property prices.

4. Unaffordable Mortgage Payments

In our day and age, people fear mortgage payments because of serious risks such as the instability of the world economy. When compared to renting, paying for a mortgage costs more. What if’s always come to mind like losing one’s job or running out of budget. People fear that if they fail to pay their monthly mortgage payment, their properties will be taken away.

Before taking a mortgage, set up your budget. Save emergency funds and health insurance for unexpected circumstances. Make sure to get everything controlled to avoid financial instability.

Fears and worries are always present in our mind, especially when one is about to engage with risks which are not exactly under their control. Qi-Homes offers services and gives insightful advice for home buyers, helping you get clear with any possible doubts and gather the courage to march towards your dream abode.