When you come across a property that you absolutely love, it’s especially easy to feel anxious of potentially losing it to another buyer, so you pursue more aggressively than you really should. And we’ve all heard the horror stories: the couple who excitedly purchases their first house, only to find out months later that the foundation beams are rotting away; or the developer, with big ideas of an apartment complex, buys a property only to learn after closing that the site isn’t even zoned for that purpose. A property that bleeds you dry—financially, at least—strikes fear into all of us, yet it’s all too easy to think, “oh, that will never happen to me.”
 The only way to steer clear of costly mistakes down the road is to think critically and do your due diligence before buying. When comparing which is worse, losing out on a property to another buyer or purchasing a property with significant underlying issues that need attention, I will always think the latter is far worse. Believe me, I know that it’s not ​fun to start imagining yourself in a home, only to have that property sell to someone else. But remember: there will always be another property. By applying these considerations, that next property will be far less likely to be a so-called “money pit”.