Day: August 3, 2017
The current situation of the real estate market offers a unique opportunity for buyers looking for their first home and have the means to do so. The prices have been reduced considerably, there are a large number of properties for sale to choose from and the negotiating ability of the parties involved is very high. However, it is worth taking into account some basic points when buying the first home.
An affordable budget
The budget is an essential element that should never be forgotten. Many buyers are not aware of how much money they have to buy a home. Falling surrendered to the charms of a home that is not economically affordable is simple, but could be a waste of time and illusion. In many cases, it can lose sight of the initial goal and budget.
The step before hiring a mortgage is to make sure you have a thorough knowledge of the monthly expenses, as well as make a projection of income in the short and medium term. All factors are important, whether the stability of the work that is available, the possibility of salary increases or reductions, and the mortgage index to be applied, etc. Ultimately it comes to analyzing the numbers and find comfort payment of the mortgage to be hired.
Usually, unforeseen events always happen, so the goal is not to worry every night about having to choose between paying the mortgage or, for example, to undertake unexpected work or arrangements.
Another virtue is to be realistic about the characteristics that the future housing should bring. From the budget that is available, it is advisable to make a list of what would be desirable to have the house that is sought.
Research is useful when developing this list. It is highly recommended to take a look at other houses in the same price bracket and see what features they have. For example, if the houses investigated do not have a renovated kitchen or a storage room, it may be logical to think that it will be difficult for the future housing to have them.
In addition, the list can always be updated later, if you are lucky enough to find the house with everything you want.
Preview step to purchase
Perform a technical inspection of the property to be purchased by a professional. The objective is to determine the state of all elements of the property: mechanical systems, general layout and aesthetic-environmental conditions.
Certificates of Professional Inspection of Housing (IPV certificates) can therefore be a decisive factor in closing a purchase operation. For the first purchaser this certificate assumes the security that the property that interests you is in perfect condition, or perhaps the possibility of raising a possible discount if there were any defective element.
The expenses come later
Understand the real economic cost of maintaining home ownership. At times, first-time homebuyers are so unaware of the purchase process that they forget what happens after signing the contract of sale. In reality, the most common expenses begin after the move. In addition to the mortgage payments, you have to pay the corresponding taxes such as IBI, housing insurance and community ownership fees. Not forgetting the maintenance problems that arise from time to time. These expenses are one more reason not to invest until the last euro in the mortgage.