THINGS TO CONSIDER WHEN BUYING YOUR OWN HOME
Every person’s final dream is to live in a house of their own. But buying a home may be one of the biggest decisions you will ever make. It is a serious commitment because you are choosing the place where you are going to live, maybe for ever. So, take the time to think about your decision carefully. The house you buy says a great deal about you, your income, your goals and what you expect in the future. When buying a house, there are certain rules and considerations to follow if you do not want to take unnecessary risks. Below there are a few guidelines you should follow before you make up your mind.
Things to consider when buying a house:
1. The first thing you should do is to ask yourself how long you are planning to stay there. That means, are you planning to stay five or more years, for example? Or are you just passing through because you hope to eventually move somewhere else? If you are going to stay in one place at least five years, buying a house makes much more sense than renting it. Otherwise, you might want to consider waiting to buy one in the place you end up living longer
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2. Other important factors to take into account are the location of the house, its size and its price, in order to determine exactly what you want. First of all, the house location should be good. It is important that your new house should be near service centres such as hospitals, schools and markets. Second, the size of the house should be appropriate for your family. For example, if your family is large, it will be difficult to live comfortably in a small house. And third, the price is an important point. Buying a house can range from the affordable to the very expensive, depending on the location and the features of the house. For example, a house located within the city costs more than living in the suburbs or in small towns.
3. Think honestly about how much you can afford. To do it, write out how much you earn and subtract all your costs, including costs you will have as a new homeowner, such as taxes, insurances or bills. That way you will find how much you can pay for a mortgage every month.
4. When you already know what you want, the next question is how you can find it. First, decide if you want to buy directly from the owner or if you want the experience, advice and service that a estate agent can provide. If you decide to buy directly from the owner, look for advertisements in the newspapers. But if you turn to an estate agent, he will search for your perfect house. Once you find the house you like, your agent will take care of the details of the sale. Normally the agent's commission is paid by the seller, so you won't have to pay the agent. Be aware that the agent's fees may be reflected in a slightly higher price for the property. A third way of buying a house is looking for it in the internet. There are different websites that give you details of houses all over the world. Finally, you may also go to a public rental housing agency.
5. Try to visit several banks to negotiate the mortgage and compare their offers. If that doesn’t work well with you, there are a number of financing and crediting firms that you can approach.
Deciding whether to buy your home may be one of the biggest decisions you will ever make. Do not rush into it. Use this leaflet to think of advantages and disadvantages of buying or renting a house. As you can see, there are many things that go into a home-buying decision.