12 Important Things to Consider When Buying a House
As people’s needs are different so too are their desires and goals for a home. Some people would rank something as more important than others. But there are things that every home buyer must consider before they pick a home and start paying for it.
Also, if you write down the features you and your family prefer on paper, it becomes easier to shop for that house. Besides, those conditions that you have listed on paper will become your home buying guide.
And that guide will let you easily eliminate houses that do not meet the requirements of your dream home. Also, the realtor working with you will know which type of property to show to you. However, because of individual differences, each of these points will rank differently. Okay! Let us see the things to consider when buying a house right away.
1. Buy In The Right Area
It is important that you must decide with your family where you want to live. This location must be clear to you before you start looking for a house. Also, you must think about the schools you would like your children to attend. Besides, you must consider how you would commute to and from work before deciding on the place.
2. Buy For Long Term
Buying for the long term is one of the most important things to consider when buying a house. If you buy a property with a short term view you would not have a good investment. Don’t buy a house except you are willing to stay in that place for at least five years.
3. Buy A Home That Meets All Your Needs
You should buy a home that fits your personality and lifestyle. Also, this home will reflect who you are. So it should be your castle and it is also where you would entertain your friends, sleep, raise your children and work if you work from home.
So you must make sure your ideal home can meet all these and more of the things you would do with it. The house should not be small or restrict you in any way. You should not buy a house with limited space or just something that falls short of your expectations. Make the right decision and stick with it because you know exactly what you want to buy.
4. Stick To Your Budget
Having a budget written down on paper for picking the right home is one of the things to consider when buying a house. Remember that your Realtor and house seller would want to sell you a house that is sometimes way off your limit.
You will know just by stepping into the property that you cannot afford the house yet, you allow yourself to be lured into the deal. If you do you will regret it later. So know the range of property to inspect and the ones you should not look at. Don’t inspect a property you know that you cannot buy.
5. Don’t Be Dazzled By Needless Features
Features that you want in a house should be paramount in your mind and not the dazzling features that you will definitely meet in some properties you will inspect. Remember that all that glitters is not gold.
So, do not let imposing features of a house cause you to make the wrong judgment. Because, if the property is below standard even if it has sparkling accessories like a big swimming pool, gold plated taps or a spa bath and so on, it will still give you nightmares later.
6. Do Your Research
Like in all things in life the more information you have about it the better your decision will be. Doing research is one of the things to consider when buying a house. Why? You need to get the average price of properties in that location you desire to live in.
Also, research will give you the range of prices of the properties your agent will show you. So if the price is too high you would know. Moreover, you should ask questions and based on the response from your agent, you can move on to see the next property.
7. Be Curious, Ask Questions
You should be curious and friendly. And if you find a property you like, go back to an area the property is located to observe the nightlife and the activities that go on during the day there. Also, meet your neighbours and ask about the owner of the property and if there are problems in that house. Tell them you want to buy it. You will often get revelations about the house from neighbours.
Next, ask the agent how long a certain property has been on the market. It is expected that building agents or owners who are finding it hard to sell a property for a long time and whose property has been on the market for some time, will be more willing to negotiate the selling price than agents or owners who have just recently put their homes on the market for sale.
8. Put Down A Deposit
Another thing worthy of note and one of the things to consider when buying a house is the deposit for the house. So if you want to have a repayment period for your mortgage that will not cause the deterioration of your lifestyle, then you must try hard to save up for a deposit.
Also, you should save a deposit amount even when you know that you could get a one hundred per cent loan from your Mortgage lender. Besides, if your deposit for the house is large, then your monthly repayment, will be small.
9. Shop Around For Your Bond
Mortgage originators are, good for the property sector. All you need to do is to fill in the forms and allow the experts to find the best deal for you. Depending on the offers you get and the kind of house you want to buy, make your decision.
However, since your decision is based on the recommendations of experts, it enables you to select the best mortgage lender that matches your budget and meets your expectations for the ideal home for you and your family.
10. Beware Of The Hidden Costs
Reading the tiny prints to discover the hidden charges in a property deal is among the things to consider when buying a house. Try to learn more about hidden charges before you buy any property.
You should at least know what kinds of charges you will face when you buy the property before you sign the purchase agreement. Also, note that there will be charges like conveyance fees, deposit for light and water and you must pay them. Make sure you can pay for these extra charges too.
11. Don’t Get Discouraged
When you make an offer and a seller refuses to accept your offer, don’t be discouraged. If the property price falls within the range you like, increase the offer if you can afford to do so. If not, then it is time to inspect the next house. Keep searching until you find a property that matches your ideal home and price expectations.
12. Don’t Ever Rush Into A Deal
This is the last tip and one of the best in this list of the things to consider when buying a house. It is simply that you must not rush into the deal or any deal at that. Slow things down a bit if the deal process seems to be going too fast.
And if you have any uneasy feeling about a part of the property, don’t allow the seller or your Realtor to talk you into buying a property you have problems with. If you are not absolutely sure don’t make an offer to buy the property.