Buying a house is both daunting and exciting in equal measure. The internet is full of guides on what to do and what not to do when buying a property, but many will miss out on some of the more blunt and practical advice. Regardless of your budget, requirements, or jurisdictions, these are some of the essential steps you must take when it comes to the biggest financial transaction of your life.
Utilise the online sphere
The internet has improved our lives in many ways, and this can also be seen in the real estate sector. Whereas once, people were forced to go shopping for mortgage deals in person, or traipse around different real estate agents’ offices, today it can all be done online. For example, mortgage advice can be sought via sites such as Trussle, which have streamlined the process for buyers by bringing together deals from leading providers based on the buyers’ specific situations and criteria. With options to speak to somebody on the phone or interact with the chatbox on the site, it couldn’t be easier for customers to get in touch.
There are, of course, numerous advantages to this service being made available online. Firstly, this saves hours of time and significant amounts of effort by collating the best offers in one place. When finding the right property, real estate search engines are often the first stop for many. Secondly, they bring together thousands of options, sorted by specific requirements and present them all in one place for the buyer to view with filters. Again, this reduces the amount of time spent looking at unsuitable properties and gives the buyer more chance of finding the perfect property.
Get a trusted team
Buying a property requires engaging a team of professionals to help you through the process. This can include real estate agents or fixers, notaries, lawyers, accountants/tax specialists, surveyors, architects, and interior designers – the list goes on. The key to a smooth process is choosing your team carefully. Don’t just go with those that promise the lowest costs and quickest turnaround time – go with those who have a good track record. Be sure to research them by name and profession, ask to see credentials, and seek feedback from previous clients.
You can also stick with recommendations, only working with professionals who have been vouched for by people you know. Transactions like this involve a lot of money, so it is essential that you trust the ability and ethics of the person you are working with. They should also be suitably qualified, experienced, and, if necessary, licensed to carry out their work with you. Pick your team wisely because the last thing you need is doubts, issues, or delays when it comes to buying your dream home.
Always budget more than you expect
No matter how much your budget, you will always go over when it comes to buying a house. There is a mountain of costs that soon add up, and there will be lots of unexpected ones when you finally enter your new home. Asides from the property price, you may have to pay fees to the bank, transfer fees, commissions (if changing currency), surveyors, notaries and lawyers, accountants, taxes, registration fees, and various other costs, depending on your jurisdiction.
Then when you move in, there are repairs and decorations, furniture, new locks, checks of plumbing and electrics, white goods, windows, energy efficiency, or even small things like changing light bulbs or replacing a boiler. It all adds up, and just when you think you have paid everything, something else comes along. When buying a house, it is always best to be as liberal with your budget estimations as possible because it is better to have a surplus than not enough.
And above all, don’t forget to breathe, stay calm, and remember that eventually, you will be able to celebrate in your lovely, welcoming home.