So you want to buy a home? No matter if you want to move in or if you want to buy and rent the property as an investment, it is essential to consider a few points before buying. A home purchase can be very tedious if it is not handled professionally. Here are some tips to help your home purchase go smoothly.
Consider the Costs for Buying A House
The notary costs and the amount for hiring a conveyancing solicitor should be included in the budget. Calculate with realistic values and get a conveyancing quote. When buying, you should know the amount of housing money you have to pay as owner and how much the maintenance reserve and the administrative costs are.
Is the Age of The Property in Line with The Price?
Is it a new building you are purchasing? If so, the price would probably be higher. If this is not the case, a cheap cost has to be questioned. An old building brings its own problems such as a broken roof or hidden mouldbetween the walls. Remember, a renovation is often expensive.
Check the Rental Rates
If you want to rent the apartment, you should inform yourself about the current rent index and possible upper rent limits. If there are limits on rent increases, you should know about it. When buying the property as an investment, it is useful to put yourself in the role of the future tenant. Tenants have individual requirementsand only by their rent payment you can achieve a return.
Clarify Your Own Needs
In order for the search for a dream property not to take a zig-zag course, one thing needs above all else: you should first clarify your own needs! This offers the best guarantee that you will not be dazzled by the variety of offers on the market.
Asses the Location of the building:
Thelocation aspectis an important factor in the house purchase checklist. There are considerations to make such as noise pollution, the commute, and the local area. Take a visit to local spots to get a feel of the area, and think about how long you want your commute to be.
Also, it is imperative that the apartment has a convenient location for you or your future tenant. If you have children, for example, depending on your age, you will appreciate a nursery, a school, perhaps also playgrounds, sports clubs or the doctors’ surgery nearby.
View the Property
Pictures and brochures may help you, but they are not a substitute for a visit. Only if you are personally on site, you can adequately assess the space, the condition and the environment of the property. Therefore at least one visit is essential before you go any further in terms of purchase considerations.
As a potential owner, you should take a look at those parts of the property that is not necessarily in the limelight, such as cellars and attics, outbuildings and garages. Do not be afraid to ask any probing questions or critical looks.