The excitement and anticipation that comes with buying the first house is overwhelming. When you start earning, you feel that you need a separate place to stay. Staying with your parents seems restricting. You crave for freedom and experimentation in life. And being with parents doesn’t always allow you to do this. But, buying a house is a difficult deal.Being a first-time buyer will show your naiveté in front of the seller who may then take advantage of that. So, display your sharpness and caution when dealing with the sellers.
There are a number of factors to be considered while buying a house for the first time. If you don’t go by these rules, you end up getting ditched.
Ten Guiding Tips for First-time Home Buyers:
1.Fix a Budget: Since this is your first house, your budget would be rather small. So, look for houses in that range. Don’t go overboard with your budget. You could be lured by a very attractive and large apartment, but never diverge from your budget. And if you do, make sure you can avail of loan and repay it with regular installments. Only consider blowing your budget if you have a regular source of income that is more than your routine needs (expenses).
2.Space Needs: Gauge your space needs accurately. Are you the only one going to stay here, or is your girlfriend moving in with you? Are you going to invite your friends over for a party every now and then? Consider these factors and buy a house accordingly. Remember not to overspend.
3.Neighborhood: If you are looking for peace, check if your neighbors are not the notorious type. Similarly, if you are the wild type, purchasing a house nearby somebody who would complain about your noisy atmosphere will be a problem.
4. Proximity: Buying a stand-alone house that is far away from the hustle and bustle of the city is
so boring unless you are a loner. Check if the house is not very fair from transportation points like trains, buses, or cabs, and whether the market and shopping areas are easily accessible. If you have to travel daily for an hour to buy your basic needs like meat, fruits, milk, eggs, and veggies, then the plot is definitely a bad option.
5. Property Appraisal: If you are unsure whether the piece of property that you are willing to buy is worth the price the seller is quoting, call for the help of property appraiser. Getting a residential real estate appraisal done by a certified, legal appraiser is worth it. This will help you present your case and negotiate with the seller confidently. Moreover, if you are buying a house in order to turn it into an office for your new venture, then seek the help of commercial real estate valuation services.
6. Ask the Experienced: In order to save yourself from getting cheated or paying more, ask your parents,
friends, or acquaintances to help you with the whole process. They could help you with finding a good real estate agent. And if you want to skip an intermediary, you can search online for property options. DIY search is smart, but many youngsters lack the wisdom in property dealings that comes only with age. So, even if you are moving out of your parent’s house, do enlist their help. Remember, you are still a child for them. Taking an experienced person along on property dealings will alert the seller and will deter him from duping you for your ignorance.
7. Have an Eye for Detail: Don’t be trapped by the outer beauty, décor, and ambience of a house. Check if the foundation is strong, the walls are sturdy, and there are no major loopholes that make living there impossible.
8. Pleasant View: Choose a house with a view that is pleasant to your eyes. If you are getting married soon or going to have children, buy a house that will suit them too. Ask whether your girlfriend would like to live there once she is hitched to you. You can’t buy another house so soon on her insistence.
There are a number of factors to be considered while buying a house for the first time. If you don’t go by these rules, you end up getting ditched.
Ten Guiding Tips for First-time Home Buyers:
1.Fix a Budget: Since this is your first house, your budget would be rather small. So, look for houses in that range. Don’t go overboard with your budget. You could be lured by a very attractive and large apartment, but never diverge from your budget. And if you do, make sure you can avail of loan and repay it with regular installments. Only consider blowing your budget if you have a regular source of income that is more than your routine needs (expenses).
2.Space Needs: Gauge your space needs accurately. Are you the only one going to stay here, or is your girlfriend moving in with you? Are you going to invite your friends over for a party every now and then? Consider these factors and buy a house accordingly. Remember not to overspend.
3.Neighborhood: If you are looking for peace, check if your neighbors are not the notorious type. Similarly, if you are the wild type, purchasing a house nearby somebody who would complain about your noisy atmosphere will be a problem.
4. Proximity: Buying a stand-alone house that is far away from the hustle and bustle of the city is
so boring unless you are a loner. Check if the house is not very fair from transportation points like trains, buses, or cabs, and whether the market and shopping areas are easily accessible. If you have to travel daily for an hour to buy your basic needs like meat, fruits, milk, eggs, and veggies, then the plot is definitely a bad option.
5. Property Appraisal: If you are unsure whether the piece of property that you are willing to buy is worth the price the seller is quoting, call for the help of property appraiser. Getting a residential real estate appraisal done by a certified, legal appraiser is worth it. This will help you present your case and negotiate with the seller confidently. Moreover, if you are buying a house in order to turn it into an office for your new venture, then seek the help of commercial real estate valuation services.
6. Ask the Experienced: In order to save yourself from getting cheated or paying more, ask your parents,
friends, or acquaintances to help you with the whole process. They could help you with finding a good real estate agent. And if you want to skip an intermediary, you can search online for property options. DIY search is smart, but many youngsters lack the wisdom in property dealings that comes only with age. So, even if you are moving out of your parent’s house, do enlist their help. Remember, you are still a child for them. Taking an experienced person along on property dealings will alert the seller and will deter him from duping you for your ignorance.
7. Have an Eye for Detail: Don’t be trapped by the outer beauty, décor, and ambience of a house. Check if the foundation is strong, the walls are sturdy, and there are no major loopholes that make living there impossible.
8. Pleasant View: Choose a house with a view that is pleasant to your eyes. If you are getting married soon or going to have children, buy a house that will suit them too. Ask whether your girlfriend would like to live there once she is hitched to you. You can’t buy another house so soon on her insistence.
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