Whether you are Mr. Green horn or Mrs. Experienced, the challenges of buying a new home can be very a daunting task. Sometimes, after a long search, you are tempted to either just go with the next place that falls into your budget or continue searching. To assist you to demystify this search and get the most out of the process, let us recommend what you should expect from the buying process, what you should consider before buying and some handy tips to help you make the best choice.
Here are four impressive guides to help you make the best decision before buying your next home.
1. What Type Of Home Best Suites Your Needs?
A single home, a family home, an extended family home, a country home, a condominium or a co-operative home, there are several options when purchasing a residential property.
Each of these options has its pros and cons depending on your home goals.
It’s entirely up to you to decide which of these property types fits best into your home goals. If it is for a family of three you might want something simple with no unnecessary space and if it is for an extended family you might want to go for a bigger space with more rooms to accommodate all your needs for the entire family.
A well thought out goal will guide you in this process. Sometimes your dream home can be much more than you budgeted so we suggest you seek help when deciding what type of home suits your needs. Ask questions and align the answers you get with your needs rather than your wants.
2. What Specific Features Will Your Ideal Home Have?
Everyone purchasing a home deserves to have what fits their needs and wants as closely as possible. Sometimes, the seller would not know what your desires in a home all are unless you make them known.
We advise that you guide your home buying with some basic features that you desire and always make them known from the onset to avoid dissatisfaction after the purchase.
These basic features may include; accessibility of neighbourhood, power supply, security, size of kitchen and bathroom, playground and proximity to malls and health centers.
BuyLetLive can be a helpful tool for researching properties that best fits your desires for a new home.
3. What Kind Of Home Can You Actually Afford?
Just because a bank agrees to loan you some millions of money does not mean you should spend all on getting your dream home. Remember you are going to pay back that loan.
Yes, a home is an investment, but it is more of an investment of comfort rather than monetary returns, well, except you plan to rent out some part of your home.
Many first-time home buyers fall into this ditch, and end up house-poor. This means after purchasing the house they find it extremely difficult to buy basic things in the house like furniture, decoration, utilities, some cases even food, simply because they spent all their money on buying a home.
In deciding how big a budget you will set aside or the loan you will take for purchasing a home, you would want to look at the bigger picture of a finished home rather than an empty house.
Also consider how high your land use charge/taxes of your desired neighbourhood will be, maintenance fee and home insurance if any.
4. Who Will Help You Find A Home And Guide You Through The Purchase?
A real estate agent or platform will help you find your desired home that falls within your price range. They can also take you for inspection.
When you make your choice, these professionals assist you in the negotiation process with the house owners.
They also handle the paperwork process and let you know when to involve your counsel if needed.
A good real estate agent can guide you from falling into any pit you might encounter during the searching and purchasing process.
Being such a platform is something that BLL takes pride in. We have dedicated our course to guide you in finding your dream home.
Before you start searching for a new home, ask yourself these questions, what kind of home best fits your wants and needs? How much can you afford to spend on a new home? and who will help you find that home?