It’s easier than ever to browse a menagerie of homes in only a few minutes. Using listing websites and apps, homebuyers have platforms available to perform custom searches for their next house. The virtual evolution has also given home sellers an all-new way to post their house for sale in the eye of a vast audience.
The Dangers of Buying a Home Online
The Home Buyers, Inc.
However, home buying online or on mobile applications doesn’t come without risk. That’s why the Exclusive Buyers Agents of Minnesota have compiled a list of significant dangers to look out for when shopping for homes online. If you’re in doubt about browsing for homes online, don’t worry — we’re here to help. The Exclusive Buyers Agents of Minnesota can help you find the perfect Minnesotan home for you!
Deceptive Home Images
Browsing homes online can give you a great window into potential houses that fit your budget. However, a potential buyer must consider how photos can distort a space, making it look bigger or nicer than it actually is. A halfway decent photographer can make a 1000 square foot home look like a mansion with the right angles. Alternatively, bad photographs can make a home look much smaller than it really is, so it’s essential to schedule a physical walkthrough before making any big decisions.
The same caution applies to the exterior of the home. House flippers and crafty Realtors can spruce up the landscaping and body of a home to make it seem like a dream purchase. However, those photographs will almost always exclude defects. That’s why working with an Exclusive Buyers Agent is so important - we give you a return on investment approach and will even recommend you don’t buy homes that aren’t the right fit for you.
If a picture is worth a thousand words, then an in-person home walkthrough is worth a million. Don’t be duped into buying a house before you’ve had a chance to see it in person and get the objective perspective and detailed analysis we provide. A decision like that can end up costing you both money and stress.
Scammers
While many listing websites put up safeguards against scammers, the reality is that they still exist. Be wary of advertisements on listing sites designed to look like part of the site itself. This is usually a scammer phishing for personal or financial information.
There are other types of scammers besides digital ones as well. It’s a saying as old as time — if the listing seems too good to be true, it probably is. Immediately turn and run the other way if you receive ludicrous offers, such as half-off if you buy today, after inquiring about a house through a listing site. Additionally, any “agent” that asks you to wire money for any reason before you’ve signed any contracts, whether it be fees, deposits, etc., is most likely conning you.
Getting Caught Up in the Excitement
Buying a home is a HUGE decision. It’s one of the most significant financial moves most people make in their lifetime. With the invention and popularizing of online home buying due to recent travel restrictions and COVID-19 concerns, more people turn to online home buying methods. But just because you can get approved, get a mortgage, and buy a home in one sitting, doesn’t mean you should.
Again, this is one of the biggest and most crucial investments of your life. You need to make it with care and consideration. The online-style of shopping tricks us into approaching five- and six-figure purchases the same way we would a new computer or a jacket. These decisions have always taken time for good reason - you need to be absolutely sure that a home is right for you before you buy. Getting caught up in the excitement of the process can be detrimental to your finances and happiness.
Want More Info on Homebuying?
The Exclusive Buyers Agents of Minnesota specialize in matching Minnesotan homebuyers to their dream home. We know the industry, as well as the pros and cons of buying online. Learn more about the dangers of online homebuying, as well as the pros of working with an Exclusive Buyers Agent, by contacting us today!