Things To Consider Before Buying A Home

2019/02/25

Everybody dreams of buying a home in a posh locality having top class facilities. When you come across your dream home while taking a stroll in the evening, you feel tempted to buy it. But you should do few things before buying a home with all your hard earned money.

Consult an advisor

Take the help of an advisor who knows the exact value of the house you are interested in buying. Check whether the owner is quoting the right price of the house or not. It might be possible that the owner may sell you his or her property at a high price after knowing that you do not have any idea about the cost of the houses.

Therefore, it is better to take the help of a person who is a professional and have experience in this field. He or she would tell you whether the price quoted by the owner is correct or not. Also try to find out the approximate resale value of the house in case if you decide to sell it. Consult your friends and relatives who have recently bought the house. They will guide you in making the right decision.

Check for the facilities available

If the owner of the house claims that all the facilities are available near his or her house then verify it yourself. While buying a home it is important to consider the location of the house. The house should be located in a decent place.

If the market is very near to the house then it would be good for you as you do not have to travel long distances to fulfill your daily needs like clothes, utensils, food etc. If you have children then it will be convenient for them if the school in which they are studying is not too far from their home.

Verify all the documents of the house

If you have made the decision to buy the house and checked all the necessary things then you should verify all the information written in the document before signing it. Take the help of a legal advisor or a lawyer.

If you find any information false then inform the owner of the house and ask him or her to give explanation on the disputed matter. If the matter gets resolved without facing any problem then you can go ahead with the deal.

Inspect the house

Inspect the house thoroughly to check if anything is broken or repaired. If you find anything damaged then inform the owner of the house. Ask him or her to do the maintenance work before giving you the possession of the house.

Keep in mind your financial budget

The house which you are planning to buy should come within your budget. You should not go for that house or property which you cannot afford no matter how good it is. Otherwise you will soon find yourself surrounded by huge debts.

You have an option to take a loan from a bank and if your credit rating is good the bank will sanction your loan amount but you may not be able to repay it back. The result of all this would be an increase in your debt amount. You can also borrow money from your friends or relatives but if you would not be able to return their money, your relationship with them might get affected. Therefore, it is better to buy that house which comes within your budget.

Visit the place several times

It is good if you visit the place where your house is located many times during the day. You will come to know about the real atmosphere of your locality. Interact with the people living there to know more about the area. You should gather as much information as you can about the background of the house owner. After visiting the place several times, you will get to know the people residing in that area.

Question the seller

If you are buying a second hand house then you should be aware of the reason for the sale of the house. Ask the owner of the house to specify clearly the reason of selling his or her property. If the reason is a genuine one then you can go ahead with the transaction.

If you feel like that the owner is hiding something from you and is not willing to share with you then you can ask about it from the people living near that locality. If something odd comes up that can get you in trouble then stop the deal immediately.

Introduce yourself to the neighbors

You should talk to the neighbors and introduce yourself to them. Enquire about the number of the people who have bought their own house in that area. Ask them about their experience of living there and whether they are happy and satisfied with their decision of buying a house in that area.

Check if people in your locality are social and friendly

Check if the people living in your neighborhood celebrate festivals like New Year or Christmas together. If they do then it will be good for you as it means that people like to meet with each other and care for each other. This will provide you and your family a safe environment and will help in the growth and development of your children.

Buying a home for your family is a huge responsibility as you have to take care of the needs of each member. You have to think about your children, your spouse and most important about your parents if they live with you. Hence, you should not hurry in buying a house but take your own time to arrive at a sound decision.

Moreover, if you are repaying any previous loans then you should better clear these first then think about a house. If you do not have sufficient money but are still interested in the idea of buying your dream house then you should start saving money to buy it.

Photo Credit: Lasvegasbuyeragent.com

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