Looking for a new home is exciting, but sometimes, when you go out in the hope of finding your next big home, you are shown nothing but pigeonholes with zero to no amenities. You might think that the patch leading to your perfect home is full of rocks and holes. But in reality, its far from true. Finding your perfect home is easy if you keep the following points in mind.
In this article, we have made a list of points that will help you find your perfect home so that you can avoid making expensive mistakes:
Know your budget
You should start the process of looking for a new home by evaluating your bank accounts, cash flow, assets and liabilities. The most common mistake made by people is that they set their eyes of a house that is beyond their budget. Yes, you can apply for home loan to cover the difference, but you also have to pay the high EMIs that come with the loan. This will throw your budget out of the window.
Know your loan amount eligibility
You can check how much loan amount you are eligible for in few simple steps using home loan calculator. Though the amount presented is only the estimate and not the final word from a financial institution. To get the proper estimate, you need to contact your bank before making any final deal.
There is a possibility that the difference between the estimate and what you get is quite significant. Even a slight difference can affect your budget. So, make sure you know the amount of loan approved by your bank before you make your final budget.
What about the other costs?
People think that, once they purchased the property, they are done with all the expenses. But that is not true, as soon you make the final payment, you have to take care of EMI, spend money on personalization and maintenance, pay utilities bills and more. Plus, you might need to buy new furniture and appliances as well.
Be open to change
Finding a home exactly like you dreamt of is next to impossible. For example, you want a big garden and big parking space. but when you visit the property, you find that the house only has parking space but no garden. The house has all other things that is perfect for your family. So, it is best to keep an open mind, otherwise you will miss out the deal if you are too picky.
Don’t get carried away
People often overspend when they move in to a new home just to personalize it. You don’t have to spend extra money if you look for a house that is already furnished. This way you will be able to save a lot of money that will help you in paying off the loan.
See-through the drama
Builders offer cosmetic changes to changes the look of the house, obviously, for extra money. These changes do make your house look more attractive, but the main question is, do all these changes are worth it?
If you survey the market, you will be able to find much cheaper stuff. So, why pay the premium cost when you can find the same thing at half the price.
Pick and choose
Keeping an open mind doesn’t mean you have to make bad decisions. If you have a big family, you need a house that has 3-4 bedrooms. You don’t want to feel cramped in your own house just because you wanted to save few dollars.
Make the list of things that you can and cannot sacrifice while looking at home.
Keep an eye out
Builders usually promises to finish work early, but that is far from truth. They take ages to complete a project. If you have made the payment for the house, make sure you contact the builder regularly and visit the property to see the progress of the project. If you sense something is not right, contact the local authorities immediately to ensure your money is safe.
If you want to buy a constructed property, make sure you conduct a proper survey. For example, if you are looking for homes for sale in centennial hills Los vegas, make sure you check single aspect before you make any payment.
Find your own agent
It is important that you hire an agent that knows all the secrets of the property you are interested in. You will have to pay a fee to the agent, but in return you will get guidance that will be true.
Author: Eernesto T Felder