There are many aspects to consider beyond that you have liked a property, so you should take them into account. If you take out a mortgage, you have to make sure that your monthly payments do not exceed 35% of your overall income.
It is very common that during the purchase of a property, people fall into a kind of infatuation that does not allow them to see the defects or the existing inconveniences of the property they chose, as a result, they put their savings and assets at risk. In this post, we will share a few helpful tips with you to buy the best property available on the market.
Identify Your Needs
When you are starting the search of real estate property, select the one that suits your needs completely, has the size and number of rooms as per your family members’ requirements and is close to your place of work. In case you buy a bigger property than you need, the expenses on property, services and maintenance will rise and you will not enjoy the whole house.
Verify the Physical Structure
If you have already decided which property you like, ask an architect to help you verify that it is in a condition to inhabit and it has no hidden damages at all. You can also ask the nearest neighbors if the property has any leaks that are affecting them.
The property in question must have good and sufficient means of the communication, education services, health, security, transportation, recreation and supply of the basic needs. In case the property you are going to buy has all these services and facilities, you will have a higher capital gain according to the experts of real estate and property. You must take care that the property is not located in an area of risk, under the high voltage lines, fuel tanks, underground pipelines, riverbeds, near ravines or flood areas. In addition, if the property is close to your place of work, you can also save on commutation, especially if you live in a big city.
Ask For The Debts
As a general rule, the seller must keep current the property tax tickets and services such as electricity, water, and gas. The omission in any of the payments or dues noted will cause the new owner to acquire all those debts which he or she must pay.