Buying a house is not easy. It is a big decision and a good house not just a dream, but the reality of having your own home.
If you are on the market to buy something new or buying their first home, for example for rent, there are probably some things that do not know, such as how it became one step closer to owning your house. If you want to learn more you can check out myperch.
To make this process easier and help you succeed in getting what you want; we bring you 25 tips to get the right house:
Really know what you want, from a house in a big or a small one to an apartment or a Townhouse. Whatever it’s always better to be ready with the needed information, so ask for it if you lack ideas about the place and community where would you like to live in.
Make a list of your needs and requirements when buying a house (the size of the land, the number of bedrooms and bathrooms, etc.), but also think about features that can make your life easier such as good access roads over other houses; over-head power lines; next to water sources; etc.).
Consider all aspects before making any decisions: choose the area (accessibility); proximity (to public transportation, to schools, shops, etc.); crime rate; local customs (for example if you are in the USA think about the holidays), etc…
Choosing a neighborhood check for amenities and convenience stores nearby; land use and zoning of property surrounding.
Check out the financing options before going shopping for a house, it’s always better to have a plan B ready in case you don’t get approved by a bank or some other form of financial help is needed.
If possible try to have your budget higher than what you can afford so that way when it comes time to negotiate you will have room for bargaining! Also if you can’t appear to be rich do not give the impression that you are loaded with money!
Once out there start looking, note down any property that already caught your attention (if possible), and then try to narrow your list until finally come up with the final choice.
Before signing any contract make sure you know all terms and conditions; restrictions; plans; covenants; etc… for each house, make sure everything matches what was written in the contract (for example: close to schools or local shops), ask questions! The seller should be willing to provide this information within the available time prior to closing, usually a week or less depending on area regulations.
Be patient, it needs some time for a house to go on the market in your preferred area, don’t rush in and find a new one.
Once you have decided on a property ask for a survey of the boundaries; get an inspection done (It’s best to make it 24 hours before the closing date), having these items checked will reduce future problems/issues!
Remember if something sounds too good to be careful, always ask about any possible hidden costs such as association fees; safety deposit (not very common); etc… Don’t let anyone fool you into buying something that doesn’t fit into your budget or standards small details like this could really cost you money!
Hire a lawyer and an accountant (if required), each state has different requirements so make sure you find out what is required of you.
When it comes time to sign the papers there are some standard terms that apply everywhere for example Sign at your own risk clause; Sellers Disclosure Declaration (listing all defects with dates); etc… Make sure you know exactly what you are signing!
Have a copy of the contract, one for each party involved in the transaction, and ask questions if something doesn’t sound clear! Read thoroughly before signing any documents!
Remember everything stated in the contract is legally binding, make sure everything is compiled with state laws or at least check on them before the closing date.
To avoid legal problems make sure both parties hired an independent property inspector who can report and document findings and, where necessary, give an estimate for the cost of necessary repairs.
Don’t forget to check closing costs (transfer tax; appraisal fees; loan points; etc…); don’t sign anything that you haven’t read or aren’t comfortable with signing!
Have a water test was done (it’s usually free) before buying a house! This is one of those good deeds that will come back to you tenfold, especially in case something is wrong with the well/septic tank/water lines and it must be fixed immediately!
After closing remembers to: cancel insurance and utilities you do not need at the new place; set up a home security system; change your address on DMV records and other organizations/businesses you are a member of.
If you are not planning to stay in the house, make sure that your buyers are aware of this before the closing date! Some places will not allow you to sell or rent it out after it’s been closed, check with your state regulations!
Selling a house is fairly easy but first, you must know all about the market and current trends for example types of properties on sale; prices on similar properties; condition, etc… Just by knowing these few things one can already cut down several days’ worth of time learning on their own! It’s always best to know what category your property falls into so that way you know how much to offer/ask for.
Make sure that your buyers can afford it and, most importantly, that they are willing to buy your house!
You always want to try and avoid having your house on the market for too long because if it’s been there for some time chances are another buyer might jump onto your deal which would not be profitable at all. Remember: “time is money!”
Look over all negotiable items and have conditions that have to be met before the closing date. Be thorough, look under every stone and never settle for less!
Good luck with your new house and remember: “if you get a good deal make sure it’s only because the other party made a mistake!”