5 Things To Know When Buying A House
When looking at homes for sale, there are many different angles and things you need to know in order to pick and choose your ideal property.
It’s never just as straightforward as seeing a house online and clicking through to buy it now.
So when looking to find that perfect dream home here are some aspects for you to consider.
Use A Trusted And Respectable Realtor
It’s common knowledge that the realtor will receive a percentage cut of the sale price. This can make some buyers feel reluctant to use them, however, it is the seller that incurs these fees, not you. With that in mind, they also want to be the person to close the sale in order to benefit from this commission. By using a trusted realtor they will not just be able to guide you through the property tour but also negotiating the price.
You Can Negotiate The Contract
When purchasing a house you will be entering into a legal agreement and signing contracts. You might even think that as they are a required part of the house buying process that you can not negotiate. This is not true.
Legal contracts can be amended and signed subject to all parties being in agreement. By having a good realtor they will be able to help support these conversations between you and the seller.
Buy For Your Future
Buying a property tends to be one of the largest commitments you’ll financially take on and this could be the only property you ever buy. With that in mind consider your future. Are you planning children, do you need extra space, do you plan to move. All of these things may influence whether this is the right house for you in the long term. Especially as depending on your mortgage deal, you may not actually put off the overall mortgage debt for the first few years due to the interest repayments.
See The Potential
Not all properties you view will be exactly to decor taste. That isn’t to say that it isn’t the right property for you. Don’t get too caught up on the work that does need doing and the cosmetic changes you want to make to the property.
That said, if you are looking at properties and seeing replacement kitchens and building work in the property’s future, it is important that you have considered the cost of this work. Not just for materials but labor costs too and it is all budgeted and accounted for.
Make Sure It Is Affordable
Even when planning for the future and maximizing your budget to get the best house now. It is still important to ensure that whatever you buy will be affordable. When considering this, don’t just look at what the mortgage company will offer you, but consider what you can comfortably pay out each month with the additional running costs that come with being a homeowner. Take this into consideration before making any offers, especially if you plan for your circumstances to change in the future, such as having a family.