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Don't buy a home based only on emotion

Buying a new home is something that should be done carefully, and you always want to have the proper inspections carried out to make sure you know what you're really getting. Experts warn that it's something you should not do emotionally, though one expert claimed that that's exactly what 80-85 percent of buyers do.

It's easy to understand. You've been looking for a home for a while and dreaming of finding one. You finally do, and it's the exact style you've always wanted, with great curb appeal. You can just see your kids playing in the yard, you can see yourself relaxing on the couch, and you can see yourself having friends and family over for a fun evening in the open-concept kitchen and dining room.

There's pressure to buy. You fall in love with the house in seconds, and you want to get your offer in before anyone else can take it -- and all of those dreams -- away from you.

The problem is that you may end up missing hidden issues. One family thought they'd found their dream home, and they actually bought it in part because it looked like no work was needed. Then they found out that it was full of termites, that the ceiling was caving in, and that there wasn't proper sealing done on the walls, so everything was full of mold.

If you buy based on emotion and get a lemon, you won't be in love with that house for long. Take your time, understand exactly what you're signing -- does the real estate contract say the home is being sold 'as is'? Have the sellers disclosed any previous issues, or could they be liable for hiding things they should have told you about? -- and know your legal rights no matter how things turn out.

Source: AOL, "Buying a 'Bad' Home: What to Know in Case You Buy a House of Horrors," accessed Feb. 21, 2017

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