Buying or selling a home is one of the biggest financial decisions most people will ever make, yet many fall into common pitfalls that can cost them time, money, and unnecessary stress.
Read: First-time homebuyers' fears - how to overcome them
Antonie Goosen, principal and founder of Meridian Realty, highlights some of the most common mistakes buyers and sellers make and offers expert advice on how to avoid them.
"Real estate transactions can be complex, and even a small misstep can have major consequences. Whether you’re buying or selling, being aware of potential pitfalls can help you navigate the process more smoothly," he says.
One of the biggest mistakes buyers make is failing to secure bond pre-approval before house hunting. Many buyers start searching without knowing how much they can afford, which can lead to disappointment if they find the perfect home but can’t secure the necessary financing. "Pre-approval not only gives buyers a clear budget but also puts them in a stronger position when making an offer".
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Another common mistake is overlooking hidden costs. Beyond the purchase price, buyers must consider legal fees, transfer duties, and ongoing maintenance costs. "Many first-time buyers don’t factor these in and find themselves in financial difficulty later," warns Goosen. He advises buyers to plan for these expenses from the outset to avoid financial strain.
Skipping the home inspection is another misstep that can be costly in the long run. A property may look great on the surface, but hidden defects can lead to unexpected repair costs. "Always conduct a thorough home inspection before finalising a purchase," he advises. "It’s better to be aware of any potential issues upfront rather than dealing with expensive surprises later."
Sellers, on the other hand, often make the mistake of overpricing their property.
"Setting an unrealistic price is one of the quickest ways to turn buyers away," he says. "A home priced correctly from the outset is far more likely to attract serious offers." He explains that while sellers may have an emotional attachment to their home, the market ultimately dictates its value. Working with a knowledgeable estate agent can help sellers set a realistic asking price based on current market conditions.
Neglecting repairs and presentation is another common seller mistake. Small issues like peeling paint, broken fixtures, or an unkempt garden can make a home less appealing. "Investing in minor touch-ups can significantly boost a home’s appeal and help it sell faster," he says. He encourages sellers to make simple, cost-effective upgrades that enhance the home’s overall appearance.
Choosing the wrong estate agent is another pitfall sellers should avoid. Some sellers select an agent based solely on low commission fees rather than expertise and track record. "Working with an experienced agent who understands the market can make all the difference," warns Goosen. "An agent with a strong network, effective marketing strategies, and a deep understanding of pricing trends will help you secure the best possible deal."
For both buyers and sellers, preparation is key. "Do your research, work with professionals, and take the necessary steps to protect your investment," he advises. "With the right approach, real estate transactions can be smooth and successful."
READ: Top tips for buying your first home
David Jacobs, National Sales Manager for the Rawson Property Group, shares his expert advice to help you navigate the market effectively in 2025.
Understand the market before you act
Whether you’re buying or selling, Jacobs says the first step is understanding the current real estate landscape. Research your local market to identify average prices, demand trends, and stock availability, and don’t be afraid to mine your local real estate agents for on-the-ground insights and advice.
“For buyers, knowing the market helps you identify where the best value lies,” Jacobs explains. “Sellers, on the other hand, need to know how their property stacks up against similar homes to set a competitive asking price.”
Key factors like local infrastructure, school quality, and connectivity (such as fibre internet availability) can influence property desirability and pricing.
READ: Selling: How to attract buyers for your home in 2025
Tips for Buyers
Set a Realistic Budget
Jacobs cautions against stretching beyond your means. “Establish a clear budget and stick to it,” he advises. Buyers should also account for additional costs like bond registration, transfer duties, and ongoing maintenance.
Get Pre-Approved for a Mortgage
Pre-approval is a must for buyers in today’s competitive market. “Pre-approval not only shows sellers that you’re serious, but it also gives you a clear idea of what you can afford,” Jacobs says. “This will save you time and prevent disappointments during the buying process.”
Know What You Want
Having a clear idea of your priorities – whether it’s proximity to work, schools, or specific features like energy efficiency – will help narrow your options and make the decision-making process smoother.
Partner with a Trusted Agent
“Working with a qualified real estate agent is invaluable,” Jacobs emphasises. “They know the market inside out and can guide you through negotiations, contracts, and the finer details of a transaction.”
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Tips for Sellers
Prepare Your Property for Sale
First impressions matter. “Start by decluttering and deep cleaning your home,” Jacobs recommends. “Small upgrades like a fresh coat of paint or fixing minor repairs can make a big difference.”
Set a Realistic Price
Pricing your property correctly is crucial. An overpriced home can linger on the market, while under-pricing could leave money on the table. “Your agent can provide a comparative market analysis to ensure your price aligns with local trends,” Jacobs explains.
Stage Your Home
Staging can highlight your property’s best features and help potential buyers envision themselves living there. “Simple touches like neutral décor, good lighting, and a welcoming atmosphere can create a lasting impression,” Jacobs suggests.
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