Many of the people are struggling with on how to buy a house, what is the thing that they need to concern about and etc. All I can tell you is, buying a house is never easy. Its process can be complicated sometimes, but if you educate yourself well enough and the buying process can be very smooth.
We share you some tips of how to purchase a house wisely and the things you should know before purchasing a house;
1. Spend within limits
It is important to spend rationally with a proper plan in mind. Before purchasing the property of your dream, make sure it comes with a price that you can handle.
2. Don’t be easily misguided or tempted
The price of a house determines your future expenditure and lifestyle. More often than not, developers jack up the housing prices. Then, they give discounts, gifts and rebates to lure buyers.
3. Learn more, be prepared
Often, buyers rush into buying a property before fully understanding what they need to know as a buyer. It is advisable to read more for general knowledge and learn about the prices before committing to one.
4. Check on the credibility and strength of the developer
Before considering any property, make sure it is developed by credible and reliable property development companies.
5. Never pay in full
This applies to houses that are not fully built and ready. If you pay in full, and the developer is unable to meet the completion dateline, you won’t be able to claim for reparation.
6. Get the right kind of property
It is crucial to find the house that suits your needs, even though it might take extra time. Also, check on the floor plan to ensure that the number of rooms and space is suitable for your needs.
7. Choose 4th floor and above for apartment
Usually apartments on the higher floors, from the middle onwards are priced the highest. The prices are lowest for the top floor or the lower floors. Also, apartments located at levels that are lucky, such as 6, 8, 10, 12, 16 and 18 will be pricier as compared to the rest.
8. Do not waste time on the road
Although some developers claim that the distance from the property to the nearest highway is short, they did not mention the actual time taken when a person is traveling during traffic congestion or peak hours. People living in the city tend to waste a lot of precious time on the road each day. Hence, do not be fooled by the estimated traveling time.
9. Do not rush
When you are ready to pay the deposit for a property, be clear about the location, structure, size, price, contract, deposit amount, delivery time and deposit refund. Make rational decisions, consider the environment, layout and design of the house. Ensure that all furniture and decoration fits with the property.
Before signing the contract, it is very important for you to find out whether the house is partially or fully furnished, origin of land, facilities, mortgage, terms and conditions for breach and termination of contract, materials, housing quality standards, warranty responsibility, housing map and completion time.
Whether you are purchase a house for investment purpose or for your own stay, the above tips are really useful for you to buy a right property for yourself. Purchase a house can gone easily if you educate yourself well enough and fully understand the requirements of purchasing a property such as cash flow (to see whether you are able to handle the house installment loan) and personal credit history (to see whether the bank would approve your mortgage loan) and etc. Good luck.