Buying a house is a big decision. There basically many houses that are for sale. Some people save up for years before buying a house and some people take out a loan that they have to pay for years to come. Buying the wrong house can have a large effect on your finances. For example if the house wasn’t built properly, you will have to pay for repairs all the time. Here’s a list of things to know when buying a house.
Before buying a house you will need to decide on a budget. Also when you’re budgeting for the house make sure you have an upper limit. Don’t have an exact figure because your dreams house may cost a little more than your budget but you don’t choose to buy it because it costs more. Have some leeway for your budget. Also make sure you’ll have some extra cash afterwards because you will have to change certain things such as the conveyancer. Sometimes to reserve the house, you will have to pay a down payment so be ready for that as well. The other things the budget affects include the location and the size of the house too.
Location is another very important factor when buying a house. Not all locations are the same. Some places may be close to the city with easy access to hospitals, schools, supermarkets and colleges. In this case these houses are very expensive and will cost much more than a house that is too far away from all these commodities. Make sure the house is close to your work place as well. If you’re on a tight budget try to determine a place that can be considered a middle ground between the two. This mean the location should be not too far from these commodities and not too close where the prices are too high. Also be careful of future developments such as a cement factory or graveyard which can drive the value of the house down.
Check the house thoroughly. This means check if everything is ok with the house, like if every tap is working and all switches are working. Further inspect the house top to bottom. If you don’t know how to do it, get someone else to do it for you. Be wary if the homeowner is conveyancing the house at a much lower price because this may be due to certain issue with the house.
Always take a look at the documentation and all deeds required for the house. This way you will know if there’s any conditions such as easements or right of way that are present. This will also show what can be done with the property and if the property has the necessary approvals. If you don’t look at this you can get in trouble afterwards.
These are the most important things when looking at the house. After you check all of these and are 100% sure of the house, you can go ahead and purchase it.