Buying a new home for the first time? Tensed about safety and security? Don’t know where to start from? Buying a home is undoubtedly one of the biggest decisions of our lives and it cannot be done without a detailed plan.
Thus, it takes a lot of time, effort, and planning to buy a property. However, by following this step-by-step guide will make the process smooth for you.
- Are you financially ready?
Before making the biggest investment, step back and think about whether you have enough financial support or not. What do your savings say? It is effortlessly easy to browse the internet and fall for the home of your dream. But without proper financial planning, your dream will be dashed to the grounds. If you are determined that you are going to buy your first home, check your savings, and know whether you need a home loan or not. If yes, how much? Because there will be a considerable amount of up-front costs. Think about whether you will be able to bear the overall costs by yourself or if a home loan is required.
It is necessary to make a balance in your savings and expenditure. There are numerous costs that you should consider which include stamp duty, down payment, legal fees, broker fees, property taxes, etc. Determine how you want to invest in your property. It is better to evaluate all the additional costs from the initial stage so that it does not exceed your affordability. Also, look for banks that offer home loans. You can easily get a home loan through bti Brokerage as they have partnerships with reputed banks. You can also utilize our home loan calculator to check your eligibility.
- Have you researched the location?
The locale you are going to move should get the topmost priority. Why shouldn’t it be? It is the determiner of how convenient your life is going to be. Research about the area, the urban amenities nearby, etc. Even if you have selected an apartment, what would be the ideal size? Will the bedrooms be sufficient enough to accommodate all the members of your family? If you are going to reside in a particular area for a long time then consider the distance of educational institutions and offices. Before moving out, take these considerations into account!
- Is your desired home suitable enough for you?
As soon as you decide to buy a new home, it calls for early research. Note down what you would like to have in your future home. Do you want a swimming pool or backyard? What about the home condition you are going to move into? Are the civic amenities nearby? Make a checklist of all the things you are looking for in a flat so that you do not have to recall them every now and then while researching. This will definitely narrow down your research process.
- Should you look for a real estate agent?
Buying a new home for the first time is indeed a daunting task. After searching for days and months if you still can’t find it then maybe now is the time you should hire a real estate agent. Find a well-versed and experienced agent in the area of your choice with a good understanding of the current real estate market trends. Their in-depth knowledge of the area and its surroundings, and most importantly their negotiation skills for the buying process can be a boon for you. bti Brokerage would be of great help in this regard because they are experts in this field who will ease your home buying journey.
- Done with home inspection?
Even though the home you have planned to purchase appears to be flawless in the first place, do inspect that home for assurance. Trained professionals like bti Brokerage can instantly find out the flaws that might skip the eyes of others. Moulds, stains, and corrosions often lead to water leaks and create dampness in the walls. Such shortcomings will make you spend more money on repairing your home in the long run. bti Brokerage performs free home inspections so that you can avoid unexpected repairs. If everything seems alright then you are good to go for closing the deal.
Buying a new home is an enthralling experience but the tasks associated with this are no less than a hassle. Detailed research and proper knowledge will help you to a great extent and this write-up was an attempt to help you ease the entire process. Happy Home Hunting!