When buying a house for the first time, doubts arise due to lack of information, therefore to make everything easier for you from the beginning, here we offer you ten factors that you should consider before embarking on the path to buying your house.
You will see that after reading this post, it will be easier for you to go step by step in the process, and all your effort will be rewarded with the right decision. So, follow the next buying a house checklist:
1.- Check Your Finances
The first thing you should consider is to review the current state of your economy since 90% depends on your decision. Start by analyzing your salary and which are the available financial options that you have.
If most of your salary is currently in use for card and credit payments, you will need to make a plan on how to get out of debt and settle them before buying a home. Make this plan with your family; remember that family support will make it easier for you to achieve your goals.
2.- Mortgage Credit
In many cases, you will need the support of a mortgage loan to pay for your home. You can get this financial product through a banking institution. For this, you need to know the current status of your debts and payments, review your possibilities and the amount of loan they would give you and also, check the current house prices.
3.- Consider the Help of a Specialist
If you do not have the necessary time to devote to the search for a house or if you want to make that work more efficient, you can always go to a real estate agent.
Real estate agents are prepared people who sell properties, and given their profession; they already have tools to develop this work. Why should you approach one? Because with the rhythm of today’s life, it is challenging for you to have a lot of time to explore options.
Although you will always have the choice to stop receiving their advice, you can take into account their suggestions for the property that best suits you.
4.- Identify your Needs
Before you start a search to buy a house like the one you want, make a list of your needs. Do you need a lot of space? How many rooms would you like your home to have? Do you want it from one floor or two?
Try to think about your needs in the medium and long term, since a house or apartment purchase implies that you see in the future. It is likely that for now, you do not need much space, but thinking ahead, you might require a place to park a car. Or you may later see the opportunity to open a small business in your home, which would make the need for an indispensable larger property. So take a notebook and start writing down the requirements that the house you want to buy must meet.
5.- Make a list of Properties
If you have already started studying properties, make a list of them. It does not matter if it is very long since the next step will be to debug it.
For this reason, you must write down the positive and negative characteristics of each property, which will give you the possibility of making better filtering of the features. Consider that the list you have left can be filtered again. This way, you can refine your property search. And instead of going to visit 20 houses or apartment options, you can choose only the best 10.
6.- Visit the Properties
It seems the most obvious step, but when you do it, use the list you had made in tip number 5, so you can see which properties meet your needs.
This way, you will make each visit more productive, in which you will be able to know if a property gives you everything you want or if you must continue searching.
7.- Check if the Papers are in Order
If the purchase is made by an intermediary, such as a real estate agent, you do not have to worry about this aspect.
But if you are buying directly to an individual owner, take your precautions. Looking for legal advice can be a good idea, so buying a house or apartment can be a pleasant experience if you do not know how to buy a home.
8.- Review the Tax Situation of the Property
Make sure that the property you wish to acquire is free of encumbrance. The encumbrance is a charge or obligation that applies to a property to indicate that it is compromised.
A free encumbrance house means that nothing is owed to anyone for the property, which is not under warranty or has not been seized to make a payment. Therefore, it is essential that if you buy the house from the owner, make sure that the property has no debts.
Once the financial topics are covered, another of the most critical aspects when choosing your first home will be the location. According to your needs and desires, consider the place to settle. Look for areas that offer tranquility and development opportunities so that the value of your property increases over time.
Also, consider a safety area since you would put your heritage at risk. Besides, take into account that your new home is in a place where your quality of life improves.
10.- Reflect as Many Times as Necessary
Buying a house is not a simple purchase, so you should meditate and analyze all the information several times until you convince yourself that your investment will be safe. For this, you must take your time and review all the options as many times as necessary, including making many visits and calls until you are sure that what you care offered is what you will get.
There are many other essential things to consider when buying a house, but these are the ten most critical factors you should consider before purchasing a home.