Buying a house is many people’s dream. A lot of people would invest their life savings in buying their dream house. Therefore, it is important to know how to make correct investments; what to look in a house before making a purchase, how to find a good real estate agent, and what legal formalities to fulfil.
It’s easy to dream about buying your own home. It used to take a lot of legal work to find one but thanks to online real estate apps, like Nobul and Zillow, the process is so much easier now.
Every buyer has a criterion for the new house. It may vary according to the demography, geography and social strata of the buyer. But, a little knowledge about real estate and a checklist for buying a house can save your money, time and energy and help you acquire your dream house.
Here is a list of things you should check before buying a house
Seller’s identity and credibility: Verify the seller’s identity and the capacity to sell the property. Check the orders from the court, permitting the sale of the property. Check the master plan and confirm whether the property is delivered as per the plan. Confirm the status of property tax and occupancy certificate with the seller. You also need to add in your checklist must call to Conveyancing lawyer & solicitor or any best Conveyancer who can give you right path before buying house.
Location: A house isn’t the only thing that will change when you buy a new one. Your neighbours, parks, streets and many other things would change unless you are shifting to a house in the same locality. Your choice of location will depend on your age, family type, profession and other factors. Whatever locality you select, check for the bare minimum like walk ability to the train station, grocery stores, hospitals and chemists, and friendly neighbours.
Finance options: Before you decide to purchase a house, check various financing options available to you and determine your payment mode to avoid any last-minute hassle. You can choose to mortgage to your traditional bank or a mortgage broker, depending on your relationship with your current bank and your credit score. Choose the option that gives you the best terms on your mortgage.
Contract terms: check each clause in the housing agreement before signing it. The terms of payment and deposit, home loans, property condition, possession terms etc. should be clear and acceptable to both seller and the buyer. If you don’t like any term, negotiate and re-write it before accepting the agreement. Don’t sign any contract in haste. Remember, buying a property is a big decision that requires huge investments.
House inspection: Visit the house and check the condition. Ensure that the house has all the interiors mentioned in the contract. The electricity and water supply sources are intact and working. Check the location and the neighbourhood. Ensure that everything promised by the seller is available in the house and the locality.
A good real estate agent can help you in gathering these information, and making the necessary arrangements to ensure the process runs smoothly. There are open market places and apps like Nobul where consumers can choose agents, get prices, and get analytics on everything from neighbourhoods to schools, all from the comfort of their homes.