5 Things To Do When Buying Your First House

Buying a home is one of the biggest milestones in everyone’s life. For most people it is the biggest financial transaction and an expensive and emotionally charged process. If you are considering buying a property, here are some quick key points to consider that may help you find a near perfect home that you will enjoy in the long term.

• Find a professional real estate agent. It is wise to have someone experienced that can help you navigate the market. You may think you can easily find properties on classifieds or google or through friends and family, but it is in your best interest to have an agent who is working on your side. A good agent will help alert you to new listings, research comparable homes, advise you on what kind of offer to make and help you negotiate the deal.
• Don’t buy based on cosmetic appearance A Caesar stone countertop and a shiny new bathroom can quickly reel in a buyer and a mouldy old carpet can easily be a turn-off to many. Yet, these are just cosmetics. Always look for the potential. Usually with some updating you can convert a house into a great investment. Many homes have been renovated and re-sold for a handsome profit and there may be major issues hiding underneath those shiny new tiles in the bathroom.
• Get to know the neighbourhood Check out the schools that are close by, find out about the crime rate, the activities going on in that area. Your real estate agent can also inform you on the property value trends in that area.
• Be organised and ready for the legal issues and paperwork Having a real estate agent will help you navigate the sea of paperwork and interpret the legal issues. There are expenses such as Conveyancing Fees, Transfer Fees, Stamp Duty. A buyer needs to know what they have to pay for in addition to the purchase price.
• Find an expert to inspect the home before you buy From construction to electricals to plumbing, experts can uncover major issues that can become very expensive down the road. What they discover can also be useful in the negotiation process. If the home requires major repairs, you can negotiate a lower purchase price.

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