1. Stay Within Your Means
Buy only a house below your means. I know that there's a temptation to go all out for buying your "dream house", but please be very careful. It's better to buy a smaller house which you know you can securely own without any hitches, than stay in your dream house only to lose it several years or months after purchase. Be clear about the amount of money that you have to pay the mortgage each month. But also make sure that you still have money for general savings. What you want is enough savings to prepare for any unexpected crisis like losing your job, while still able to pay the mortgage.
2. Get The House Inspected First
Finding a good inspector can save you a lot of grief and regret in the long run. Don't buy the house on your own, but seek professional help. There might be serious flaws hiding behind the walls, and structural defects which can only be detected by an expert. This will seriously affect your reselling price if ever you decide to sell, or worse, it might compromise your family's safety. Look for an inspector you can trust, preferably someone part of an official association recognized by the government.
3. Look For A Good Real Estate Agent
Look for a real estate agent with substantial experience in the kind of property that you're looking at, as well as experience in the local neighborhood. A real estate agent will be able to give you quality advice, and provide you a list of concerns and documents that you need to check first. Preferably look for a real estate agent or realtor who's part of a government recognized association, because they'll be abiding by certain standards and a code of ethics.
4. Check Out The Local Neighborhood
If you're planning to stay for the long-term then you know that the neighborhood will really influence the way you live. The neighborhood is especially important if you're raising children. A good school in the area might be beneficial to your family, as well as increase the value of the property later on. Also make sure that your house is accessible from important centers such as malls, shops, and your workplace. And if it's possible, you might want to get to know some of the neighbors before and see what they have to say before making the actual purchase!
5. The Documents Must Be Put In Writing
When negotiating with a direct seller, don't just take his word for it, make sure that the details are in writing. Remember that this is an important business transaction. Ask for documents that enumerate the complete package in clear terms, what's included and what's not, as well as any facts about the condition of the house. Hire a good lawyer with experience in real estate to guide you through the legal process.
These are just some of the tips to get you going on your way to buying a dream home. Don't be an impulsive buyer, but on the other hand, don't let the challenge prevent you from making your purchase. Buying a home is like getting married, it's a decision that could last a lifetime, so make sure you choose wisely!
Buy only a house below your means. I know that there's a temptation to go all out for buying your "dream house", but please be very careful. It's better to buy a smaller house which you know you can securely own without any hitches, than stay in your dream house only to lose it several years or months after purchase. Be clear about the amount of money that you have to pay the mortgage each month. But also make sure that you still have money for general savings. What you want is enough savings to prepare for any unexpected crisis like losing your job, while still able to pay the mortgage.
2. Get The House Inspected First
Finding a good inspector can save you a lot of grief and regret in the long run. Don't buy the house on your own, but seek professional help. There might be serious flaws hiding behind the walls, and structural defects which can only be detected by an expert. This will seriously affect your reselling price if ever you decide to sell, or worse, it might compromise your family's safety. Look for an inspector you can trust, preferably someone part of an official association recognized by the government.
3. Look For A Good Real Estate Agent
Look for a real estate agent with substantial experience in the kind of property that you're looking at, as well as experience in the local neighborhood. A real estate agent will be able to give you quality advice, and provide you a list of concerns and documents that you need to check first. Preferably look for a real estate agent or realtor who's part of a government recognized association, because they'll be abiding by certain standards and a code of ethics.
4. Check Out The Local Neighborhood
If you're planning to stay for the long-term then you know that the neighborhood will really influence the way you live. The neighborhood is especially important if you're raising children. A good school in the area might be beneficial to your family, as well as increase the value of the property later on. Also make sure that your house is accessible from important centers such as malls, shops, and your workplace. And if it's possible, you might want to get to know some of the neighbors before and see what they have to say before making the actual purchase!
5. The Documents Must Be Put In Writing
When negotiating with a direct seller, don't just take his word for it, make sure that the details are in writing. Remember that this is an important business transaction. Ask for documents that enumerate the complete package in clear terms, what's included and what's not, as well as any facts about the condition of the house. Hire a good lawyer with experience in real estate to guide you through the legal process.
These are just some of the tips to get you going on your way to buying a dream home. Don't be an impulsive buyer, but on the other hand, don't let the challenge prevent you from making your purchase. Buying a home is like getting married, it's a decision that could last a lifetime, so make sure you choose wisely!
About the Author:
If you're considering buying in Metron Manila,Philippines and searching for a house and lot for sale then click on the link. You can browse other articles by the author here.
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