Okay, so all this while you have been staying on rent in apartments which have sometimes matched your choice, at other times they just don not. So, are you now planning to buy your dream house? Looking out for a cozy and warm haven of beauty and comfort? Well, there are certain details and pointers which are specifically important for the ones who are buying a house for the first time in their lives. And if you wish to make a smart choice which matches your preference as well as suits your budget, the deal couldn’t get any better! Here is what the first time buyers need to know and implement pre, during and post buying a house for themselves.
What’s The Budget?
There is always a scope for you to make choices about how much money you could or would spend on various purchases. We all agree that things falling out of budget sooner or later make us feel remorseful. So why get into such sticky situation? Clearly know your financial condition and backups and decide how much money you are willing to spend while purchasing a residential property. It would also help you simplify your search, as then you would look out for budget friendly houses categorically.
Be Clear About Your Home Type
It is vital to have a clear picture in your mind about what type of house you are willing to buy. Do a thorough research if you already do not have enough information regarding this. Decide to go for a specific house only after you have figured out whether it would jell well with you and your requirements (family, profession and others). There are several types of houses like a townhouse, or a multi-family building with two to four units, a traditional house for nuclear families and a condo. Of course there are the benefits and flaws in every type, so depending on your preference, you make your pick.
What Features Are Your Looking For?
Now, it is often said that if you intend to make a painting, and if you have a clear picture in your mind, there will be a clear picture on the paper. Unclear images in the mind would give birth to unclear results on paper. Quite similar is the case with home buying. Have a very specific image of what your house would like, the features it would contain like an open dining area, green house, kitchen garden, swimming pool, eco-friendly features, wooden or marbled floor and many others. The colors and interiors too could be chosen by you while searching houses on the internet. All this would simplify your search and help you make a better choice.
Decide House Location
You would not want to live in an area which is isolated from the glittering life of the city. Neither would an overly noisy and hap hazard location suit your purpose. Before narrowing down on any deal, or even before meeting any real estate agent, be very sure in which area you are willing to purchase a residential property. The area should be well not over populated, should be having supermarkets and other departmental stores close by or atleast at the distance of 2 kilo meters. If your city has a tropical weather, check for any water logging during the monsoon season and the climate remains cold, check if the house and area would be convenient for you to live during snowfall and hail storm. Also, if you have a better knowledge about the house locations, the real estate agent would not be able to trick or misguide you.
Avoid High Maintenance Houses
There are some houses that appear to be the perfect masterpieces of art and beauty, over brimming with finesse and aesthetic interiors. However, be very careful as sometimes certain houses require a lot more maintenance when you start living there, than you could probably imagine. Checking the parking space, water drainage and other details should be high on your priority list.
Eligibility For Mortgage
One very important factor to consider while make a house purchase is the amount of loan you would need to apply for. There are certain factors which are taken into considerations before you receive a loan, like your monthly earnings, the working period should be above a certain number of years and the purchaser should be free from debts. So, make sure you have all these details in place and you fit in the criteria of being applicable for getting a loan.
Contact With Real Estate Agent
After you figure out the details of the kind of house you wish to buy and checking all the financial aspects related to the same, it is now time for you to see a good and well informed real estate agent. This is especially important if you are new in the city and wish to buy a house after living there on rent for a couple of years. Watch out for any house brokers who are fishing for vulnerable and unaware people, as then it would become much easier for them to swindle. However, if you keep a vulture’ eye and a steel trap mind you could manage to get a genuine agent. Ask him about his commission clearly and be very firm when it comes to the house registration and other tasks in which he would be involved. Never pay all the money in one go, as then he would not care if you get stuck in any problem after buying.
GetThe House Inspected Thoroughly
You must be darned good at cracking the right deals and dissecting its pro and cons, however it would not hurt if you go for professional inspection. Before you sign the papers and hand over the hefty cash or cheque of the payment to the seller, get that house fully inspected to ensure that the house is well conditioned, is safe and is of high quality. Taking this step would save a lot of your stress later.