Are you looking to buy a house or an apartment? These practical tips will help you quickly find the property of your dreams.
Needs and wishes
Before you start, take a seat and make a list of your wishes and needs. Write everything that comes to your mind. The list is very likely to change several times as you learn more about your options. You can change according to what you think is best for you. For example, you may want a house that is closest to the beach, but once you know the type of housing that is offered to you based on your budget in that area, have it change your priorities. Is it necessary for you to have a house with a pool, 4 rooms and in a good location? Prioritize your needs. Unless you have an unlimited budget, you will need to make some sacrifices.
Set a budget
This step is crucial. Determine how much money you are willing to allocate each month for housing expenses. Some will be able to pay in cash, but property taxes, insurance and maintenance must also be taken into account. For this reason, consult your bank to analyze how much you can pay. It is important that your budget goes according to your needs and desires. We all want the house of our dreams but if it's worth millions, let's forget about it.
Get a mortgage promise
Get the preapproval of a mortgage loan before you start looking for houses. Often, buyers prefer to find a house and then think about how to pay for it. It should be the opposite. Determine how much you can or want to pay and then start looking for properties. Some people think they can buy a house of a certain value, but then they discover that their budget is lower. The key is not to waste time creating unreal expectations.
Choose a good real estate agent
Looking to work with a topic professional or better yet, with a team of trained people. A good real estate agent will reduce the curve of your learning greatly. Ask for references or visit web pages, and then visit some agents to find the right one. The agent must be an experienced and ethical professional who works full time. Remember, as a buyer you do not need to spend extra money to pay a real estate agent, your salary is equal to a percentage of the price of the house.
Learn about the real estate market
Your real estate agent has told you about houses or flats that have been sold in the last 3 or 6 months and are within your budget. Did you like any of them? Often, buyers are interested in properties that are outside their budget. In these cases, only two things can happen: either raise your budget or reduce your expectations. A good team of experts can guide you to options you never thought of, such as locations you did not take into account or other property.
Choose your favorite neighborhood
Make a list of your favorite neighborhoods. Make sure your budget fits what these places can offer you and inform your agent about why such a neighborhood seems attractive to you. Maybe they can adapt your needs and desires to an alternative location, if the one you like exceeds your budget.
What is currently for sale
You already know what you want, you have the pre-approval of the mortgage loan (assuming you are not going to pay in cash), you have established a comfortable price range, you found a good real estate agent, you learned about the real estate market and you made a list of your favorite neighborhoods. Now is the time to start looking for houses. Your agent has provided you with a list of the houses that fit your needs, budget and are located in the areas of your preference. Visit those houses or have your agent book an appointment for a private visit. The agent who shows you the house, will indicate interesting details that you can ignore. Again, do not make these visits unless you are ready to buy. The real estate market changes daily. You may find the perfect home today, and it may no longer be available tomorrow.
You may have visited all the houses for sale and you have not loved any. That's normal. The best properties sell very fast and you just need to wait. Therefore, do not forget to tell your agent to put you in an automatic email program so that you receive the list of properties located in your favorite neighborhoods as they enter the market; and make sure you visit those properties as soon as they are for sale. Finally, you will find the house of your dreams.