What You Need to Know Before Buying A House

If this is the right time for you to buy a property, and own a house, Congratulations! We all know that buying a house is one of the biggest decisions you will make in your lifetime. However, confusion comes when you do not have any idea how the process goes, when or where to start and what to do next. 

So, if one of your goals this 2020 is to buy a property, we got some tips for you to make the purchase a success.

Main reason we buy a house is to have a shelter for our family, a place to live in. Renting is not always a good choice because renting cannot gain control over your living space and won't stabilize your housing costs. Although buying a house is more expensive at initial picture, it can be more inexpensive than having to deal with rent increase from year to year. Landlords increase rental rates to maintain their current cash flow situation. Living in a place that belongs to you, than living in a house owned by someone else is a lot happier, convenient, and secured.

1. Budget

First, setting a budget for buying your property is quite tricky. You have to make sure how much property you can afford to be able to start searching.

• Loan

In planning to purchase your first home with a loan, you need to be certain that you are aware of the monthly interest payments and fees. Check your credit score and make sure you are ready on monthly mortgage payments. Also, if you do the calculation, the mortgage interest on a loan can double the original which is the main reason it takes longer to pay off.

• Cash

Paying a home with cash will give you benefit of saving in closing costs and mortgage insurance. And since cash buyers are more attractive to home sellers, you will be able to negotiate a better price, like buying a house on a discount.

  

2. What are you looking for in a property?

Note down the factors you are looking for in a property.  A good property can mean different things to different people.

• Accessibility - Do you like a property near school, offices, or particular establishments? If it is going to be your primary residence, most homeowners considers easy access. There are people who prefer a place away from traffic and far into the development.
• Lot size and house condition - Some people buys an older property to renovate into their dream home or money generating property. However, if you are looking to quickly move into a home without any hassle, then buying an already renovated property is probably your best choice.
• Neighborhood - You may want to spend time researching the area to make sure you are buying a solid investment. You can ask the neighbors to learn more about the area.

3. Multiple areas

Some investors consider looking for more than 20 properties as possible, then they narrow their choices to 10, and eventually down to 1 property. This system allows you to determine further the best property that fits your preference. Most often, buyers contact a buying agency to help all throughout the process. You will need Oasis Skeen services to figure out the best places, and evaluate property on your behalf. They make finding the best property easier for you which means less hassle, from searching to negotiating. 

Do not stress yourself, relax and enjoy the journey. Your purchase will go well if you take the right steps to make it happen. 

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