10 ways to make sure you buy a home the smart way
Buying a home is a real challenge and a great adventure at the same time. That’s why you make sure it will not turn into a nightmare or a financial cemetery. I would like to give you 10 tips on how to buy home the smart way and what to make sure of before actually signing a contract.
1.) Buying old property
Old properties are the dream of many but sometimes the hassle is much more with them than you would imagine. Let’s see a couple things to check on when it comes to old houses or old buildings:
There are many properties which, after reaching a certain age belong in the protected category which means different rules applying to them. As a result, you can only do a very limited sort of renovation or reconstruction on it. Most often than not, old buildings with old electronic and heating systems are not updated. This may mean a whole lot more of an investment when it comes to buying a property.
2.) Ensuring the property is clean from any debts and mortgage
Luckily today there are several ways to check on this and it’s definitely a must-do. Also ensure that yourself as the new owner aren’t liable for any debts or risk of house repossession which were raised before you purchased the house or home.
3.) Ensuring the local laws on reconstruction
There are several districts and areas where specific rules apply when it comes to reconstruction. If you want to rebuild a house or build an additional wing to it, then definitely check on this before it comes to signing a contract.
4.) Getting the property thoroughly checked
This means that you call a company which is specialized in checking the actual state of a property. This is especially important because of the roofing and other construction related issues. This may save you tons of money.
5.) Make sure you know about all the costs that will arise
No matter you get a credit or not, it’s very important to be clear on how much exactly your monthly costs will be. Many people will overlook this and pay a high price for it later. In addition if I need to sell my house fast I would make sure I have a property free of debts beforehand.
6.) Check the neighbourhood
Having a good home in a bad neighbourhood is not a good idea as the quality of the area will affect your wellbeing this or that way.
7.) Read all the disclosures
Make sure you read through all the disclosures that may reveal issues which were not discussed with the owners. Make sure there are no current disputes or other legal proceedings regarding anything related to the home you are to buy.
8.) Make sure you get good neighbours
This is another detail which may be overlooked but direct neighbours affect the way you live.
9.) Take your time
Don’t rush into anything, take your time to have everything checked before deciding on buying.
10.) Talk with the owners in person
And visit a couple of times by yourself. Talking reveals most issues therefore you cannot leave this to the real estate agent.
I hope that these tips will help you buy your future home the smart way.