Things to Do Before Buying a House
Buying a house is a process that should be taken seriously. There are lots of important tasks that you should complete before you buy a home. If you can do these properly, your house purchase will go through much smoother, and then you can better enjoy the process of moving in, renovating and decorating your new property.
Whether this is your first home, or you are building a portfolio of investments, here are some of the most important things you should do before you buy a house.
1. Consider the finances
Finances are one of the most important aspects of buying a house. First, you should review your own finances to ensure you have enough savings to afford the minimum deposit, disposal income to afford the monthly payments of the mortgage, bills and maintenance of a property, as well as a buffer of funds to cover the costs of taxes, estate agents, solicitors, and other professionals involved in the process. It is therefore vital that you familiarise yourself with all the expenses that are involved when buying a house.
You should also consider reviewing your credit score, to ensure you are going to be eligible for a good mortgage deal. You can then speak to a broker or a lender and get a pre-approval certificate, which shows sellers you are financially fit to purchase.
2. Think about what you want
Going shopping for a new property without knowing what you want first can make the process long, stressful and costly. It can be a great idea to write a list of what you are looking for in an ideal property. You can then take this to your real estate agent, who will be able to narrow down your search and help you find the right property. As you view properties and display homes, make sure you stick to your original list of priorities.
3. View more than one property
Viewing more than one property will ensure you have something to compare. It may seem like you have found the perfect property on the first visit, but it is vital to at least consider other homes before making a final decision. Most buyers underestimate the value of homes and often find something they like in the unexpected. If you do find yourself set on a particular home, make sure you go back and view it more than once, take pictures and videos, ask lots of questions, view it at different times of the day/week, and get a professional survey done. You can then go home and review this information after sleeping on it, and verify all the information on the listing. This will also ensure you do not miss any potential problems that will be costly in the future.
Buying a new home is a large investment, so you must take steps beforehand to ensure you are financially ready to take it on, know exactly what you are looking for, and take a lot of care when you find something you like.