Sunday, September 20, 2015

Tips for Buying Property like a Pro

Buying property is much more than just falling in love with a cozy little house and making an offer on it. The real estate business has its own secrets that most people do not know about. There are clauses, surveys, mortgages, foreclosures and many other industry factors that you do not know about which could greatly affect your purchase. People have been known to fall for terrible deals before. The following are some crucial tips you can use when buying a house that will make the real estate agents think you are a pro!

The golden rules of house hunting
Location is the most important thing about buying a house. You need to keep in mind what matters to you as well as the surrounding environment. Before going house hunting, list down all facilities and amenities you would like to have access to in order of importance such as security, schools, hospital, and access to major roads, shopping centers and entertainment hubs. This will keep you objective throughout your house-hunting venture. Every time you see a property, the following questions should come to mind:

·       How good is the security of the area?
·       How is the infrastructure around the area?
·       Are you within comfortable walking or commuting distance to work? And how much time will you spend on the road if you commute?
·       Is the property within a good school district? (even without kids this is a good value point in case you decide to re-sell)
·       Are there any facilities that can create disturbances or noise in the area?

If the property tests well against these questions, then it is a great investment.

Do your homework research online
If you have never bought property before then you have no idea how much property actually go for. For such an individual, it is very easy to accept any price that the seller puts forward when you can get a much better deal for the same property. With the digital era, you can find most property listings online from different agents within the same area. Take time to look through the various types of property written, the location and the prices they are going for. This gives you a better understanding on the kind of prices to expect in that area when you land on the ground.

Property inspection
Most people view property inspection as an unnecessary extra cost, but if you have not bought property before, a property inspection can be a great revelation. You should get a property inspected when you have your heart and mind set to buying it to avoid the cost of inspecting many properties. This inspection gives you a better shot at negotiating a good deal for the house. The inspector will examine the structure, design and fixtures that give vital signs to the property condition. They will give you a detailed report on the house including area of attention that could be of concern. Many sellers have been known to slap on a fresh coat of paint to give the house a new look while the plumbing pipes are literally rotting.

Posted By: OB Realty