A brand new home is always worth the value that is asked for it as every property must undergo a valuation before estate agents put it on the market.
However, things might turn out to be different and frustrating when hidden details about ownership, registration, overdue taxes and the condition of the house itself start uncovering themselves.
If the property has already been acquired this means having to live with it, bear the extra expense and put it all down to experience.
So anyone considering buying a house needs to look for the best deal possible, especially if buying a house for the first time.
The recent recession has caused a slump in property prices so there are great opportunities to buy houses much below actual prices or market prices.
Often people are in a hurry to liquidate assets and will dispose of them at much below market rates, especially if a house has been on the market for a long time.
Searching for and acquiring such a distress sale house means bargaining a great deal, so getting a house the smart way.
This way you can get more than what you pay for.
You may be able to simply move in and start living, with no expensive remodelling, repairs, repainting or any such extra expense.
But then not everyone is so lucky.
There are some tips that you must follow when you plan to buy house: 1) A buyer must always make sure that they know the range and the budget for the sort of property that they are hoping to buy.
It is possible to afford a good new house within a fixed budget with the help of reputable real estate agents.
2) Always make sure the real estate agent is showing houses according to the budget range fixed by you, without any hidden costs-don't ever trust him blindly, he makes his living off you! Ensure homes are free of mortgages, any third party claims and overdue taxes and bills.
3) After picking out the few from the list one must always check the neighbourhood of the home by themselves.
The surroundings and location have a huge effect on the property value as well as the experience of living in a house.
One needs to plan and chalk out the details and accessibility of the property to the other parts of the city before they buy house.
Also check the land is not low lying as this may get waterlogged in rains.
4) Also check if neighbourhood properties are ownership ones or rental ones.
It is likely, if it is a rental area, that the plot next to you could witness setting up of a multi-storeyed building which will cut sunlight and wind to your property, lowering its value as well.
An estate agent is usually capable to carrying out all these tasks.
5) One needs to have a close look on the rules and the fine print of the documents that is associated with the new house.
When anyone is investing in a house, they are actually investing money on a future.
So, it has to be planned well.
6) The first thing to do before finalising the deal is to get the deal pre-approved for a mortgage.
Otherwise the buyer would stand ineligible for the contract.
A pre-approval also helps to have a clear idea about the home and the different expenditures that are made on the new house.
7) The market usually does not change suddenly for real estate.
It is a steady domain to invest in.
So, once a good deal is found, and the fine print on the house matches your requirements, act quickly, otherwise you may end up losing the deal! All the above aspects are important for buying a home because most of the time it is seen that those, who overlook certain matters actually end up paying a hefty sum for the fault.
After buying a new home, there are cases where the buyer pays for repairs immediately after moving inside.
There are certain hidden fees besides the down payment that one makes.
One should always get all matters clear down to the last detail with the real estate agents and include cost such as closing expenses, the home repairs fee and others.
If you are smart beforehand and check all minuet details (one cannot be too careful when it comes to property), you will have got yourself a good deal.
However, things might turn out to be different and frustrating when hidden details about ownership, registration, overdue taxes and the condition of the house itself start uncovering themselves.
If the property has already been acquired this means having to live with it, bear the extra expense and put it all down to experience.
So anyone considering buying a house needs to look for the best deal possible, especially if buying a house for the first time.
The recent recession has caused a slump in property prices so there are great opportunities to buy houses much below actual prices or market prices.
Often people are in a hurry to liquidate assets and will dispose of them at much below market rates, especially if a house has been on the market for a long time.
Searching for and acquiring such a distress sale house means bargaining a great deal, so getting a house the smart way.
This way you can get more than what you pay for.
You may be able to simply move in and start living, with no expensive remodelling, repairs, repainting or any such extra expense.
But then not everyone is so lucky.
There are some tips that you must follow when you plan to buy house: 1) A buyer must always make sure that they know the range and the budget for the sort of property that they are hoping to buy.
It is possible to afford a good new house within a fixed budget with the help of reputable real estate agents.
2) Always make sure the real estate agent is showing houses according to the budget range fixed by you, without any hidden costs-don't ever trust him blindly, he makes his living off you! Ensure homes are free of mortgages, any third party claims and overdue taxes and bills.
3) After picking out the few from the list one must always check the neighbourhood of the home by themselves.
The surroundings and location have a huge effect on the property value as well as the experience of living in a house.
One needs to plan and chalk out the details and accessibility of the property to the other parts of the city before they buy house.
Also check the land is not low lying as this may get waterlogged in rains.
4) Also check if neighbourhood properties are ownership ones or rental ones.
It is likely, if it is a rental area, that the plot next to you could witness setting up of a multi-storeyed building which will cut sunlight and wind to your property, lowering its value as well.
An estate agent is usually capable to carrying out all these tasks.
5) One needs to have a close look on the rules and the fine print of the documents that is associated with the new house.
When anyone is investing in a house, they are actually investing money on a future.
So, it has to be planned well.
6) The first thing to do before finalising the deal is to get the deal pre-approved for a mortgage.
Otherwise the buyer would stand ineligible for the contract.
A pre-approval also helps to have a clear idea about the home and the different expenditures that are made on the new house.
7) The market usually does not change suddenly for real estate.
It is a steady domain to invest in.
So, once a good deal is found, and the fine print on the house matches your requirements, act quickly, otherwise you may end up losing the deal! All the above aspects are important for buying a home because most of the time it is seen that those, who overlook certain matters actually end up paying a hefty sum for the fault.
After buying a new home, there are cases where the buyer pays for repairs immediately after moving inside.
There are certain hidden fees besides the down payment that one makes.
One should always get all matters clear down to the last detail with the real estate agents and include cost such as closing expenses, the home repairs fee and others.
If you are smart beforehand and check all minuet details (one cannot be too careful when it comes to property), you will have got yourself a good deal.