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Posted by on Aug 24, 2017 in Home And Housing | 0 comments

6 Things To Do Before You Buy A House

6 Things To Do Before You Buy A House

Buying property is a major financial decision, and an important turning point in your life. It’s certainly not a decision to be made in haste. Before you sign your name on the dotted line and start moving all of your furniture, make sure you cover these 6 essentials.

  1. Know what you want. House hunting can feel like a massive task, but it could be far simpler and less stressful if you narrow down your options before you start looking. For example, do you want to buy property off the plan as part of a land and house deal, or do you want to buy a home that’s already been lived in? Do you want a property that will stand as an investment over the years to come, or are you more interested in finding your dream family home? Make sure you know all of your options, take a look at house designs highlands for inspiration, and make a clear list of your must-haves from the property.
  2. Shop around for the best mortgage deal. Getting a home loan is an essential step to take before buying a house, and there are plenty of lenders out there offering varying rates and deals on loans. You’ll want to find the best deal out there before you commit, so take time to do your research and meet with various lenders before you make any decisions.
  3. Choose a well-informed real estate agent. The real estate agent you work with could make or break your property purchase. A good agent will know the area well, have plenty of experience, and be able to provide you with sensible advice to guide you toward the best decision for your needs and budget. Feel free to interview several real estate agents until you find someone you feel you can trust and work with comfortably.
  4. Have a strict budget. A budget that’s too vague and without a clear upper limit could lead you into financial disaster. Work out your budget carefully and don’t take out a home loan that’s larger than you can really afford to repay. Understand your affordability criteria, and be prepared to negotiate if you find a property you love that doesn’t fit into your budget.
  5. Make sure your credit is in order. In order to successfully apply for a home loan and receive approval, you’ll need to ensure that your credit score is strong. Know exactly what your credit score is, and if it’s slightly too low to guarantee a mortgage approval, be prepared to take steps to increase the figure. This means repaying all debts and bills on time, ensuring that any outstanding debts are being repaid or completely cleared, and working with an advisory service if you need any additional support.
  6. House hunt wisely. Approach your house-hunting mission with a clear strategy, and take time to look at a wide range of properties to make sure you’ve thoroughly covered all of your bases. Assess any potential property with careful precision – this includes organising home inspections, knowing what fees or maintenance expenses will be involved in the investment, and assessing the affordability and price of the property. If you go about it the right way, your search is sure to end in success.

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