Knowing when to move on the right property.

Written by Peter O’Malley.

Buying a home is one of the most important and largest financial decisions that you are likely to make. Getting it right will result in years of security and happiness from your home. As happy as the right purchase makes you, the wrong purchase can become a painful purchase – both emotionally and financially.

Given the expenses involved in buying and selling, and then buying again, it pays to get it right. To avoid the errors of others, it pays to be aware of the errors first.

Many home buyers unwittingly (but commonly) make one of two errors when selecting a property – they are too slow to move on the right property or they buy the wrong property out of frustration.

To find the right property early in the search can create complacency when buying. You can be lulled into thinking that another one will come onto the market soon. If you have a particular or unique criteria for your new home, it can be a real process to find another suitable property – should you let the right one pass you by. Alternatively, the more generic the property, such as apartments in high rises, the more chance there is that another one will become available.

Unique is an overused description in real estate marketing. It is worth being decisive if the right property with unique characteristics does become available though.