Whether the market is up or down, Americans are using the internet to shop for luxury real estate more than ever. Figures show that over 90% of folks buying a home incorporated the internet in their search. With simulated three-dimension walk-through interfaces and digital trickery, however, using the web to shop for a house isn’t perfect. Sometimes, things aren’t exactly what they seem online. Beyond that, there are some common mistakes folks make when using the internet to buy a home. Here are the top five:
Taking on Too Much
Unless you’re involved in real estate on a professional level, you should not assume that all you need is an internet connection and good credit to get your home. From a legal standpoint, real estate can get mighty tricky, and you shouldn’t attempt to handle all of your own paperwork. You want a professional looking over all papers and contractual information to make sure everything is sound. Not having this second pair of eyes may cost you a lot of money.
Keep it Broad
If you’re going to use the internet as a tool to find luxury real estate homes to choose from, don’t let the sheer magnitude of options box you into a corner. Use multiple search engines, multiple sites, and read blogs relative to the areas you’re looking in.
Don’t Forget Sale-by-Owner
Be sure to look in some less traveled places for listings by owners. More than a quarter of all folks selling a home list it privately, and you may find a unique opportunity without having to negotiate a broker’s fee. Keep your guard up, but Craigslist is still an option.
Watch for Fakes
Just like in every other corner of the internet, there are scammers out there looking to swindle you in the online real estate market. Don’t fall prey. Keep these red flags in mind:
Be Wary of Valuation Sites
Be careful not to assume how much a home is worth solely based on what comes up on these sites, which is largely calculated from general information about the neighborhood. There are a number of elements that valuation sites cannot incorporate, thought they’ve gotten more sophisticated over the years. See a listing yourself and get a feel for its value or have a home value evaluation done professionally.