10 Best Kept Secrets for Buying a Home

buying a home

Everyone has some benchmarks they have to cross in life. Getting the first salary, the first vacation and the first house. Buying your dream house is surely an unnerving task and of course a lot of thought goes behind buying a house. Sometimes a person finds his dream house in a few days, but for the unlucky ones it could take up to months. Maybe you want to buy an apartment, a duplex or probably a bungalow, but the buying process remains the same and you have to do a proper market research.

So, let’s make it simple for you. Here is a checklist of the best kept secrets for buying a home.

  1. Research the neighbourhood

Many homebuyers just concentrate on the house they want to buy. But what makes a good house, a perfect home is the neighbourhood. You don’t want to buy the house only to realise later that the neighbourhood doesn’t have a store for your basic needs or that the roads get crowded during the peak hours. Carefully study the neighbourhood becomes committing to buy. Make sure that the neighbourhood is safe and has basic services and necessities nearby. While picking a neighbourhood, research about the schools in the area and about the shopping complex.

  1. Learn the art of bidding

If you decide to buy a second-hand house, research about what the property is really worth. Take opinions from your friends and family. Find the rates of the houses in the nearby area and make sure that the seller isn’t duping you. Make someone evaluate the house you wish to buy and get all the required information needed, so that you can make an informed decision. Don’t settle for anything less.

  1. Think with your head

Many a times people end up making this important decision emotionally. Make sure that you use your head and not your heart while making this important decision. Stay calm and be wise because this is a long-term commitment. Don’t go with the flow and research well!

  1. Do not go for the biggest house

Sometimes you feel like getting the biggest house on the block, but it is not always the best option. Evaluate your needs and then find a house which satisfies all those needs. Getting the 5 – bedroom house in the most posh area is not the right choice if you live alone and your workplace is far from the house.

  1. The best time to buy is now

You will meet many people along your journey of buying a house who will tell you to wait before buying a house. People will tell you to wait for the prices to come down. But do not fret over trying to figure out when is the right time to buy, because there is no right time. The real estate market is always changing and there are a lot of ups and downs. You should buy the house when you find the perfect one, instead of waiting for the right time.

  1. Home loan

Research about the banks providing home loans and look around for the best interest rates. This will save you a lot of time and energy as you won’t be running around looking for houses you can’t afford to buy. So, find your loan amount and all details beforehand so that the processing is quick.

  1. Save money

You won’t be able to get a loan for the entire amount, so you need to save money for the down payment and the other processing fees. It is not wise to make huge purchases before buying a house as it reflects in your credit statement, and gives you a hard time getting a loan. So, do not take any chances with your credit history.

  1. Go online

Various websites provide brokerage services for free. So, if you want to save some money, instead of going to a real estate agent, go online and search for your ideal home. This is probably the best secret for buying a home in today’s world.

  1. Look for furnished or semi-furnished houses

If you require basic level furniture, try to look for a furnished apartment as it would be cheaper than buying your own furniture, plus it would be super convenient for you to move into a house where everything is ready.

  1. Get a survey done

It is absolutely essential to get a survey done on your property, so that you can avoid disputes with your neighbours in the future regarding the same.

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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