Buying a new house calls for a lot of introspection at both the personal as well as financial level. At the latter front, you must at least have an early estimate of all the suitable sellers for your future home. However, at the personal level you must be aware of certain things that can actually help in making your special purchase a perfect one. Scan through the following ten tips you need to know when buying a new house.
1. Know your rights and responsibilities as the buyer
Buying a new house is not a cut and dry job. A lot of factors and considerations take shape in process of the buying process. One of these include the research which is indeed utterly important. There is always a fair possibility for the arising of several complicated issues while making a deal for as big a purchase as a new house. Henceforth, you must always consult a realtor, lawyer or a counselor beforehand to have an idea of the rights and responsibilities you acquire along with the home ownership.
2. Don’t rush on finalizing the location
You must always know the surroundings where you wish to live today and in ten years for now. Check if your selected location is capable of fulfilling all your present and future requirements. Say, for instance, the properties in Indore are great in fulfilling both the luxurious as well as the basic requirements. Such a consideration can actually save you from the buyer’s remorse.
3. Gather information on your new home
It is always a good idea to extract the maximum feasible information on the home you desire to buy. Indulge into web resources or ask your agent. Know where your new home stands on the market listings.
4. Know your necessities
Once you have zeroed in the location, it’s now time to decide what you must have at the new place. Whether it is a porch, fireplace, a room with view, guest rooms, historical settings on a wall or other amenities. Try making a list of all such must haves. Once you set out to find the potential homes, you can always pick the one that will provide all these requirements easily.
5. Check beyond the décor
Sellers usually tend to stage the houses before putting them on sale. While a place might look fantastic, but you must consider other details too before making any final call. Never compromise the amenities and necessities for the looks. You can always add these attractive touches once the house is yours.
6. Take the drive
Flipping through the online photos or browsing for the potential homes on the net is certainly a great way to start the research. But it isn’t just enough! You must go out and check the places in person before closing a deal. Remember, photos can be deceiving. This task is easily accomplished with the help of an agent.
7. Try to get a pre-approval for the loan instead of a pre-qualification
When you are absolutely certain about buying a new home, getting a pre-approval can really benefit. While a pre-qualification will only inform the realtor about your seriousness for purchasing the home, a pre-approval will make it clear to all the involved parties that you are now financially fit and ready for the purchase. This, in return will provide you with more purchase power and financing options.
8. Have a Plan-B
You must always keep a backup home ready to fall back on. From price disagreements to complain issues, a lot of things may happen. Therefore, you need to have a plan-B ready for such a situation.
9. Know the property
Make efforts to know more about the potential property. Along with your realtor, visit the town hall. Consult zoning departments and buildings to have an estimate of the work that has been already done on the house. This can also help you in having an idea of the scope of the property in case you plan to sell it in future.
10. Stay calm during the inspection of the building
Since the inspectors will try to catch hold of even the minute flaws in your house, you must try to stay calm during the entire process. Once it is done, generate a listing of all the priorities and the necessities. This will aid you in knowing the issues and the non-issues.
Jeannette is a real estate advisor who is currently dealing with projects based on the properties in Indore and nearby cities. She has been in the industry for a good seven years. Also she writes for http://mirchandanigroup.com/