If you are going to buy a house for the first time, you might feel excited, nervous, and anxious, maybe all at the same time. Of course, buying a house for the first time is a big deal, especially in Pakistan where a large portion of the population doesn’t even get a chance to buy their first house. However, being first-time buyers, many people make big mistakes in the process. The best way to overcome these mistakes is to contact a reputable real estate marketing and management company, which will handle all the processes for you. Here are a few tips that will help you double-check your decisions while making your first purchase;
List your priorities
The very first step in the process should be to list down all the requirements you want in a house. If you haven’t given a thought to anything, let us help you with some basic needs and requirements lists. Ask yourself a few questions before moving to the next step;
- whether you want to buy a house or an apartment?
- What is the covered area of your house you want?
- How many rooms do you want to accommodate your family?
- Do you need any extra room for guests or not?
- Whether you like a traditional kitchen or an American-style open kitchen?
These are just some questions that you must ask yourself to get a clear picture of what you want. List down all the answers before considering other factors in the purchase of your first home.
Know Your Finances
Knowing your budget before starting to look for a house or an apartment for you can save your time. Figure out your budget in advance and look for the property that matches your income. It’s good if you are considering buying your first home in cash. But if you are considering a home loan, there are so many things you need to consider. There will be closing costs, along with loan origination fees, taxes, legal fees, and many more. So, ask your bank about the total cost you need to pay in case you are applying for a home loan.
Determine a Convenient Location
Determining the location of your new house is usually the biggest and most important point. However, there are two aspects to watch while determining the location. The first one is the accessibility of your prospective house or apartment to your workplace, kid’s school, and other basic amenities, like a marketplace, park for kids, hospital, and other such requirements. The second aspect is to look for its neighborhood itself. Remember, never compromise on the neighborhood even if you have already seen a house of your choice but it has a bad neighborhood. Nobody wants its children to grow in a bad locality. The easiest way to inquire about the neighborhood is to hire a marketing development company that will guide you in the process.
Always Visit the Property by Yourself
Never get attracted to flashy advertisements and brochures. Always visit the property and the neighborhood before finalizing a good deal being offered. Once you have finalized your potential house, call a house inspector from a reputable real estate company like extell management services, to check things like the structure, heating, and cooling systems, wiring, plumbing, and to identify deficiencies that may affect the home’s value.
Negotiate with the Seller
Never agree on the price asked by the seller for your chosen property. Try to negotiate the price and gradually increase your offer to an agreeable point. The negotiation price usually depends on the local market. Usually, it’s hard to bargain for a house that has more potential buyers. Ask your real estate agent to bargain on your behalf and strategize accordingly.
These are just a few tips for the first-timers to save their pocket in the process of their purchase. This doesn’t mean that you don’t need to consider any other point. If you want to get rid of the hassles during your purchase process, it’s best to hire a renowned real estate company like extell development company who is known for its quality services and for keeping its promises.