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Posted On November 20, 2019

6 Things to Know Before You Purchase a House

6 Things to Know Before You Purchase a House

For many people out there, buying a home is quite an adult move. And there’s no second thought about it. It’s okay to feel a little nervous about it, and you are certainly not alone. Having said that, navigating across the real estate sector can always be confusing. This is because of the fact that there isn’t a universal formula that applies to all buyer kind, and while a lot of us voraciously search the Internet for more information, it leads to nothing concrete. Lucky for you, we have curated handpicked tips from industry experts who can land you in a good ally while you are down house-hunting this season. Read on to find out more. 

Never Deter From Your Budget

Always start with a budget in your mind. Now, a housing agent introduces you to a new property that you like but is slightly placed above your budget. So, what should you do? Should you raise your budget as well? No way! Never go above your budget, no matter how beautiful the property is. Always settle for a property that falls under your desired price bracket, meets your calculation from all possible ends. It’s all about being brutally frank about your affordability and act accordingly. Always when you are looking to fix your budget, foresee hidden costs like repair and maintenance. Also, it’s essential to check with the bank or other financial institutions how much they are ready to lend you for a housing loan.

 Keeping an Open Mind

 One of the key rules of house hunting is to search with an open mind. Don’t go out searching for a property that you think will meet everything you crave for. In fact, chances are it would be just the opposite. For instance, if you spot any property that boasts a great location but has unattractive photos the first time you check online or otherwise, don’t reject the same right away. Pay a visit to the place and then decide. Also, never underestimate the thought of renovation. With a few renovation twitches, one can really turn a shabby looking property into a new fresh one.

Knowing Your Location

 Even if you think you have found the perfect home, always know in detail about the location. Where’s the local grocery shop? Is the market nearby? Is the property close to hospitals and banks? These are important questions to ask before you zero on your purchase decision. A location that might look stable and susceptible to changes might surprise you in a few years after your move in. Here are some key pointers to keep in mind:

  • Always lookout for any project that’s underway in its developmental stage.
  • Schools, colleges, and public transportation.
  • Proximity to places like banks, clinics, and hospitals.

Expert tip: Drop by around the location at different hours, including night time. This will give a firsthand idea about what’s the traffic like around the area and the frequency of people passing through the neighborhood.

Get the Right Agent

 Many people would like to find their property and settle everything else related, all by themselves. Then why do you need an agent? Because an agent is capable enough to do a lot more than just showing you different locations. They can help you with a bunch of other technical stuff like :

  • Mortgage securing
  • Estimation ion repairs
  • Obtaining a bank loan
  • General paperwork for your property

The question remains, how do you find the right agent? Well, it should be someone who is from the area and knows the place like the back of his hand. Also, he should have good knowledge about the local property rends and what’s going on in the market. If you are having trouble finding a suitable agent, drop by a few under-construction buildings. Chances are you will meet some agents related to the property or from nearby areas, who can help you find some good deals in the particular location.

Think Fast, Act Fast 

They say the real estate is no place for the weak-hearted. By all means, a real estate decision is based on desire, and once an individual deliberately puts a purchase decision on hold, it tends to work against him. True that you shouldn’t be too impulsive about anything, but it’s your gut feeling that comes in the way. If it’s the latter telling you that this one’s the right property for you, one probably should go for it. The more you take time, the less your desire becomes. This is all the way more evident if you are looking to buy from reputed builders in Kolkata.

Don’t Forget the Extra Costs 

Never forget that becoming a homeowner means you have added expenses lined up your way. So, when you are all set to buy your home, you should always take into consideration every single added cost like hazard insurance, expenses towards maintenance and repair, and property taxes, to name a few. A good thing would be to ask your agent to help crunch numbers so that you have an affirmative understanding of all hidden costs before you go forward with your purchasing decision.

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