A home is a dream that is seen by everyone. It is an asset that everybody yearns to have, which you can decorate and make unforgettable memories in. Studio apartment, apartment or Individual Villas, no matter what the kind of house is, it is made valuable by the people living in it. In the modern world, where real estate is considered to be such a valuable asset, it is important to consider many things before buying one.
Buying a house is a complex and difficult process. Before buying a house, you should be clear about your priorities and the things you want. This will help you narrow down your preferences and make it easier for you to look for houses. There is a long list of things that should be considered and taken care of before you seal the deal on your new home. Things like, location, pricing, realtors, etc are all important factors that should be considered when you are looking for an apartment, flat or Independent villas. This article will help you by making you aware of the important factors that you should consider before signing that agreement.
1. Listening to the right people
As soon as you decide on buying a house, there will be a horde of people offering you advice on every aspect of the buying process. Consult with people who have adequate knowledge about real estate as they are more adept at answering your burning questions. Get in touch with experienced and well-known realtors as they can be a key factor in buying the perfect house.
2. Location of the House
When buying a house, the location is of prime importance. Everyone prefers a house that is close to their workplace and has access to hospitals, schools, and recreational places. A house that has access to major highways and roads will always be the top pick of buyers. Some people may not like the noise and may prefer a quiet place. All of these factors should be considered and evaluated.
3. Neighbourhood is important
The neighbourhood also plays an important role in the selection of the house. The location of the house in the vicinity of a good neighbourhood ensures peaceful living. This is the reason why Gated Community Villas are in high demand nowadays.
4. The Size of your House
Before buying a house, you should be clear about the size of the place. You should resist buying a space which is more than what you need in the present. A bigger house means more maintenance and added bills. This puts a lot of strain on your wallet. If you feel that the houses you are looking at are larger than what you need, you should consider the option of Condos or Town homes.
5. House condition and inspection
If you plan to build a new construction you need not worry about this. But if you are looking at existing houses you may have to consider certain things. A thorough inspection should be done of the house to uncover any serious issues. Problems like foundation issues, pest problems, molds, out-of-date wiring, etc are serious problems that need to be addressed before buying the house. The age of the house is also an important factor that should be known. Older homes may require certain modifications according to your needs. Make sure you make the realtor aware of your concerns and see to it that they are fixed before you go ahead with the purchase.
6. Number of Rooms
The number of rooms you prefer also forms a major part of the decision making process. The number of bedrooms, bathrooms, and sizes of the kitchen depends upon your needs. Small families may require a lesser number of bedrooms and bathrooms, whereas larger families may prefer more. Separate bedrooms for kids and larger kitchen space are also preferred by many large families. You should examine if the house you are buying has these things tailored to your needs.
7. Condition of Appliances
Some house owners may leave their appliances along with the house like refrigerators, geysers, AC, etc. You should check the age of these appliances and whether they are in working order. If they are more than 10 years old, you should replace them. It depends upon the current owner if they will leave the appliances with the house or not. Always confirm these details before purchase.
8. Price and Current Offers
The biggest factor that influences your purchase is the price. You should have a fair idea about your budget. Apart from that, you should also consider whether you will get a pre-approved loan or not. A pre-approved loan can make the process a lot easier and faster. You should also enquire about any current offers on the property. A good realtor, if you are using one, has a good idea about it. Famous properties tend to have multiple bids, which can raise the price. Proper assessment of offers and counteroffers should be done.
9. Motivation to sell
Another factor that should be considered is the motivation of the seller. If the seller is in no hurry to sell the home and plans to live there if the deal doesn’t go through, there might not be much room to bargain for the price. But if the seller is in a hurry as is the case in an estate sale, has to relocate, or can’t afford to maintain the home, they might be more welcoming to a little price change.
10. Homeowners Association
Many houses and societies have committees that overlook any changes that you want to make in your property. They have varied requirements that you will be liable to fulfill after the purchase. If you want to build anything extra like a garage or a balcony, appropriate permissions are required. The details about these associations should be known beforehand.
Buying a home is an exhausting process, but you shouldn’t compromise on your choices. Stay true to your requirements and look if a property fulfils it. After all, you’ll be living there for the rest of your lives so it needs to be perfect.