5 things to keep in mind before buying your Dream House
So you’re planning to move out of your current house and get into a new one? Don’t rush just yet; buying a new home isn’t walk in the park. You need to make sure that it sits well with your expectations and budget. You also need to ensure that it doesn’t have hidden risks.
No agent, No home
It’s never a good idea to go for home-shopping if you don’t have a real-estate agent. You need professional help if you want to find an economic and beautiful home. Sure, they might charge a hefty commission, but it’s much better paying them for their expert opinion on the real estate market, property prices and risks.
Exercise your options with the loans
Experts suggest making an inventory of the home loans that are available to you from different vendors. The magic word here is ‘comfort’. Choose a bank whose loan terms are easier to fulfill and is flexible at the same time. You’ll have to look through a heap of loan-providers if you want to find the best deal.
Don’t hide your budget
Hiding your actual budget can create complications for you. Most home buyers quote higher than their actual budget, so they can bargain to their actual price later. Others think that the agent is going to make them buy the most expensive house in the neighborhood. If you’re not clear about what you want, you might miss out on a really good property.
Don’t wait for the ‘dream’ house
Let’s make it clear. There are no ‘dream homes’. If you think that you’ll get the perfect home for the perfect price in a perfect location, you’ll be severely disappointed. Never mix your lists of ‘must have’ and ‘want’. If you treat optional features in your house as the basics, you won’t find a house easily.
Keep your wallet light before realty purchases
Make sure you avoid heavy purchases before you book a home. Adding a new debt on top of a home loan isn’t a smart idea. Moreover, you’ll need to make your credit score look reasonable to the banks.