5 savvy tips to help you when buying your new home
Buying a new home is daunting. Especially if you’re doing it for the 1st time. To smoothen the process, we’ve compiled 5 essential tips to help you when purchasing a new house
Buying your first property is an investment that brings about huge amounts of excitement. However, it can also be a very stressful venture due to the many variables that come with this life decision.
Often, buyers succumb to this stress and it ultimately casts a shadow over the excitement and joy that purchasing your new house should bring.
To keep that cloud of stress from looming overhead, we have taken our most essential tips and put them together in a short list to help ensure that you make the right decisions from the get-go.
5 tips to help you stress less when buying a new home
1. Know your finances
2. Do your homework
3. Find a great agent
4. Think & plan ahead
5. Don’t get distressed
Buying a house is a big deal, but by knowing what to do before you dive in can go a long way. Let’s take a closer look at these tips and see how they can help you.
Know your finances
The most important part of buying a new home is making sure that you can afford to purchase it. Remember it’s not just the bond you need to pay off – there are other costs involved too i.e. Water & Electricity, Rates & Taxes, Levies etc. Too often, people buy houses that they can’t afford and end up regretting it later down the line.
When you start your house hunting venture, make sure to get a clear idea of the finances that are available to you.
Don’t do estimations as they won’t provide you with accurate enough information.
Instead of estimating, try make use of a bond calculator to calculate your monthly repayments.
Do your homework
When it comes to buying property, you can never do too much homework. There are plenty of factors involved in the process and you’re going to want to make sure that you know as much as possible before making a commitment.
Always;
· Do extensive research on the properties that you’re interested in
· Get to know the history behind the property as well as the seller’s current situation
· Find out how long the property has been on the market
· Have a chat to the neighbors
· Make a list of certain things that need to be fixed etc.
Remember, knowledge is power. Collect as much information as you possibly can. This will help you in making sure that you make the right decision.
Find a great agent
An estate agent will help you make smart decisions when you’re buying property and assist you in avoiding some common mistakes.
A great real estate professional is armed with knowledge and expertise to assist you in making the best possible decision that will make buying a new home more enjoyable and a lot less stressful.
Think & plan ahead
Owning a home takes hard work and is an on-going responsibility.
You need to think about your future-self and consider the costs that are associated with owning and maintaining your home. There will be repairs that will need to be made and regular maintenance costs. Take all these factors into consideration and plan your finances accordingly.
Don’t get distressed
Often, the excitement of buying a new home can cloud your judgement and cause distress. This is another instance where a diligent agent will be able to assist you.
He/she will always have your best interests at heart and make sure that you have all the insight into the costs associated with owning your dream home.
There’s no doubt about it – buying a new home is a huge move. It comes with responsibility, research and a lot of work.
If you go about it the right way and infuse these 5 tips into your real estate journey, coupled with a great estate agency you can be sure you are making the right real estate decision.