5 Simple Steps to Stress-Free Home Buying
Category Buying
Buying a home is an incredibly exciting venture but can easily become quite a stressful home buying experience without the necessary preparation.
There are a number of things to consider before jumping into it and, by taking them into account, you can ensure that the process is easy and goes as smoothly as possible.
Take a look at the following 5 steps you should take for a smooth house hunting experience:
Step 1: Do your research
Figuring out realistic price brackets is a very important first step, as it immediately rules out properties out of your price range and sends you looking in the right direction.
The best way to do this is to head to a financial establishment and get pre-qualified for a home loan. This gives you an official stamp of approval on your price range, and you can move on to investigating properties that suit your budget.
At this point, you can begin researching other factors about the areas you're considering buying in. For instance, it's a good idea to look into the area's security and safety, as well as its proximity to schools, work and general facilities.
By doing research on the various areas you're considering, you'll soon be able narrow your search down to that which best fits your needs.
Step 2: Get your finances in order
Getting one's finances sorted out is imperative before purchasing a home. Without the necessary research, buyers are vulnerable to ending up in an unfavourable financial situation.
The first step here would be to have a deposit ready or to be sure that you will be approved for a complete bond.
If you're in a position where you need to sell your existing property to pay for another, it is wise to ensure that it's sold before making an offer. This is beneficial because it allows you to put in a solid offer and gives you the upper hand in this regard.
So, while the price itself is important to sellers, the quality of offers is also taken into serious consideration.
Selling your existing property first and putting in a clean offer heightens the quality of your offer exponentially, and puts you in a far better position of getting the home of your dreams.
Step 3: Let the hunt begin
After the necessary research and financial preparation, it's time to start hunting for your ideal home. By using your price bracket and list of personal requirements, it'll be easy to zone in on the area that will best suit your needs.
At this point, you should be able to build a realistic and highly satisfactory list of properties to look into and explore further. You may come across a home that superficially seems perfect, but it is strongly advised that you check all its amenities thoroughly to ensure that you aren't faced with any nasty surprises later on.
For instance, check the plumbing by turning on the taps and flushing the toilet. Switching on a couple of lights here and there is also a good way to check the electricity. Keep an eye out for any warning signs that may signify future hassles.
Although there are certain things such as fittings and fixtures that sellers are legally required to leave behind when they move out, it is important to double check what will still be there when you move in.
It is tempting to assume that basic items will be left behind by the sellers but, in order to ensure that you aren't taken by surprise at any point, cover your bases and ask the agent showing you the property.
Step 4: Make sure you are in the know before making an offer
When you think you've found your ideal home, it's necessary to make sure that you've raised any concerns about the property before you make an offer.
If the property you're interested in lies within a complex or estate, it's a good idea to read through the rules and regulations so that you know exactly what you're getting into. This is a sure way to avoid problems in the future.
Another important thing before making an offer is to check the financial standing of the complex or estate. You can easily ask for their most recent financials to look over, and this will make sure that you aren't taken by surprise by any levy increases or additions.
Step 5: Find out about all the associated costs and conditions
The last and arguably most important step to take into consideration is that multitude of costs that are often glossed over, despite their impact on one's budget.
You need to make sure that you are fully aware of all of the transfer costs. These include legal fees paid to transferring attorneys, as well as bond registration if you're applying for a home loan.
Your total transfer costs will be specific to your situation, so it is very wise to make sure you are well aware of what they entail.
Remember that, after moving in, you will have to pay taxes, levies and other monthly rates. These expenses exist in addition to your monthly bond payment, and it is, therefore, important that you think about those costs as well!
Don't let homeownership turn into a nasty surprise when the bills start coming in.
Buying your ideal property is incredibly exciting and, in order to keep it that way, buyers should remain aware of the various factors that come into play, especially because signing an offer to purchase a property is a legal commitment.
These steps to stress-free home buying should, however, leave you with all the knowledge necessary to make an informed decision!
Good luck!
Author: ImmoAfrica.net
