Your home is likely to be the largest single investment you’ll ever make, so navigating typical real estate pitfalls is essential to ensuring your dream home doesn't turn into a nightmare. We take a look at some things property industry professionals would have you believe, that don't necessarily stack up. So, if you're struggling to figure out where to begin with climbing the rungs of the property ladder, these 28 insider tips will help you make your next purchase a success.

If you're selling a house, real estate agents may over-value (or under-value) your home. In order to avoid stagnation of interested parties, due diligence is key – research house prices in your area, paying attention to the type of property, condition and any other factors that may drive up the price. Shop around and find quotes from a few different agents before settling on one to take your home to market.

The property market is cyclical, it goes up, down and back again, so try not to obsess over rising house prices or when the best time to buy is. Of course, it's advantageous to take advantage of any tax breaks or dips in the market, but on the whole focus instead on the ideal home you want.

If you're serious about putting in an offer on a house, then be sure to arrange numerous viewings at different times of day. As a rule of thumb, you should aim to take a look at the house three times, making sure you see it at night, in order to get an idea of what the place and the neighbourhood is really like. Viewing at night will also ensure you're not purchasing a house where noise disturbances or crime might cause you unforeseen issues.

Buying a house is a huge investment and mistakes can cause endless problems and soaring costs. Therefore, it’s important to get informed about any property you’re thinking of buying. Often, estate agents will try to rush offers or sales by playing interested parties off against one another. Ask questions and find out the facts. Start with how long the house has been on the market and how long the seller lived there. It’s also worth Googling the address, to uncover any hidden issues.

Buying a house is generally always more expensive than it first seems and there are some additional upfront costs that you will need to save for. From legal fees to the cost of removal, to all the essential surveys needed before you make a purchase, there are endless ways your budget can become stretched. Before you start your property hunt, ensure you have a spare pot of cash for any unexpected costs that might arise.

While purchasing through a traditional real estate agent will reduce a considerable amount of administrative hassle, choosing to go it alone could save you a serious amount of money. For example, you can use online agencies or you could be creative and drop flyers through the doors of homes in areas where you're keen on buying.

Bigger houses will only appeal to a select number of buyers who can afford them. Though owning a bigger property might appear to be a better investment, it could limit your access to buyers if you choose to resell your property in the future.

There's nothing wrong with 'a bit of a fixer-upper', so long as you have the time and/or money to fix it. We’re talking chipped paint, dated wallpaper and faded carpeting. As long as the plumbing, structure and electrics are in good shape, your personal renovations will instantly add value to the property's resale value.

A fixer-upper home will cost significantly less than an immaculate property, but that’s not its only advantage. When it comes to standing out in a crowd of potential buyers, there’s a lot less competition for these types of homes.

You can add expert repair knowledge to the list of things you’ll learn when doing up a fixer-upper home. Remodelling might take more time and effort, but the renovation process will better equip you to look after your home in the long run. 

There’s a big difference between purchasing a slightly rundown house with solid foundations and a swanky new property that has walls as thin as cardboard. Don’t be fooled by appearances and always check whether the structure has been built to last. This is especially important when it comes to new builds, because they simply haven’t been around long enough to stand the test of time.

Hire a reputable home inspector (US) and follow them around your potential new home, making notes as you go along. That way, you’ll be able to use any problems they encounter for future negotiations. This will also set you up with a decent checklist of things you need to complete, look after and buy if you choose to go ahead with purchasing the property. In the UK a surveyor will carry out a survey of the property and then report back their findings. Although it's not a legal requirement to carry out a survey, they are a good way to avoid unexpected repair costs further down the line.

Find out who your potential neighbours are and speak to them about any plans they might have to put up new additions. Their new tennis court or garden fence might lower the value of your property in the future.

Knowing where your property starts and ends could minimise conflicts with your neighbours if one of you decides to add an extension or remodel the garden.

New homes tend to be better insulated and more energy efficient, which means you’ll be doing good for the environment while cutting the cost of your energy bills. On top of this, a new home is less likely to require maintenance or be associated with harmful materials, such as asbestos and mould.

Space is usually only thought about in terms of the number of rooms a property has, but is that third bedroom more of a storage unit than a comfortable space to sleep in? Consider purchasing a property with fewer rooms but more space per square foot and you could easily convert some of it into a spacious new bedroom, ensuite bathroom or study.

Don’t be fooled by the old show home trick as property developers will purposefully select the lightest, brightest and most spacious exemplary houses to entice buyers into making that purchase. Always ask to be shown around a number of empty houses within a development to get a better idea of what it is that you could be investing further time and effort on.

When it comes to sussing out what to expect when purchasing a new home, the internet is your best friend, from crime statistics to future developments in the area. Plus, property forums and sites like Reddit are filled with expert advice and experiences written by homebuyers. Read and learn from their knowledge, tips and mistakes.

Though you might have your heart set on an already idyllic neighbourhood near the city, it might be better to invest in an area that’s going through gentrification. How can you tell if a neighbourhood is set to become the next big thing? Look for evidence of investment in the form of new cafés, restaurants and shops, as ongoing renovation is a sign of a developing area.

Want enough space to house your family, including your parents? Then why not think about pooling your money to buy a home that’s big enough for all, rather than continuing to live in separate properties? You may find a home that has separate living areas or even separate properties for multiple generations.

You don’t have to live in a conventional property – there is a growing movement of people shunning traditional homes for the likes of tiny homes (perfect if you want to downsize and don’t need so much space) or a house boat on water (if you have sea legs). Explore your options – you might be surprised what takes your fancy.

Got some land on your property? Why not consider extending or building an annex on that, rather than moving? It can be much cheaper and add value to your current home. If you have elderly parents that need home care, having them living on your property can be a big advantage.

If you’re up for the challenge, building your own home can be a cost-effective way of realising the property you actually want. It might cost you more upfront, but you could end up with significant profit from the resale of a new home.

Purchasing ex-industrial, government or bank-owned foreclosure land can work to your advantage, as it tends to be sold off cheaply. However, there are things to consider before committing to this type of purchase. The land could be contaminated if, for example, it was previously used as a petrol station. Demolition of previous structures, and traffic management in urban spaces, can also cause problems. As for foreclosure sites, ensure you’re buying land that can be developed, before you commit.

Considering investing in property? There are plenty of online forums, YouTube channels, blogs and books you can scour to learn more about successfully entering the property market. Take the time to do some research online and connect with other landlords through LinkedIn and meet-ups. Speak to your friends and colleagues, as someone may know a contact they can set you up with.  

An online search might seem like the quickest solution to your housing needs, but it won’t necessarily lead you to the best investments. Property auctions are a great way to source deals, and they are generally open to the public.

There are two main reasons why a property is sold at auction. Either the owner has fallen behind on mortgage repayments or they can’t afford to pay their property taxes. Generally speaking, the starting price of the auction will be whatever is left of the mortgage balance, which means you could end up paying sufficiently less than the property’s market value.

While owning a home is often held up as one of the things you must do in life, it doesn’t necessarily work for everyone. If you want the freedom to move around, whether at home or to relocate overseas, then renting can often be a better option, as it offers more flexibility.

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