13. October 2014 14:21
Buying a house is a huge investment and, a daunting and challenging task. However, it can be made easier if you are aware of the dos and don’ts while purchasing a property. To get maximum return on your investment it is crucial that you survey the area where you intend to buy the property and check out the rates of similar properties.
Here is a list of some dos and don’ts that you must keep in mind when buying a house.
- Check out the current market rates: You should be aware of the current market trends and ensure that the house you are planning to buy is rightly priced. You can check out the rate quoted by other people as well as the price of similar properties in the area.
- Check out your affordability: You should set a budget beforehand so that you can search for properties within that amount. You must negotiate and make sure that your broker gets you the best deal. If you intend to take loan for buying the property you should start preparing for it in advance by checking your credit history in order to estimate your chances of approval.
- Check out the amenities in the neighborhood and the community:While buying a house you should check the amenities available in the neighborhood as well as in the community. The location of the house is important and if you have kids having a school nearby becomes an added advantage. The house should also be in close proximity to markets, playgrounds and other basic amenities.
- Security:One of the most important things to consider while investing in a house is proper security. You should make sure that the area has a low crime rate and there are no frequent cases of theft and robbery reported in the area. There should be CCTV cameras installed for the surveillance of the area.
- Hire a real estate agent:Though it is possible to find a property to buy on your own, you should consider hiring a real estate agent in order to get a good deal hassle free. They have complete listings of properties that fit your budget as well as fit other requirements. Besides showing you the properties, the agent will also help you check the worth of the property and inspect it thoroughly. He will handle the paperwork and help you bargain and close the deal profitably.