Buying a home for the first time can be a cumbersome task. If you have never done it before, it is normal to feel a bit overwhelmed. Luckily, we’ve pulled together some of the common steps that first-time home buyers need to consider. Learn from them and you may have a smoother home buying process.
1. Cost Involved
Your mortgage, or the purchase price for a cash purchaser, will not be the only cost to consider when it comes to buying a home. Other costs like property insurance, taxes, electricity and water bills, among other fees may start to pile up.
2. Know Your Finances
Buyers in today’s market are all too familiar with the challenges being felt by limited inventory, high demand and rapid home-price appreciation. Getting your finances in order before searching for your dream home can make all the difference in a competitive market. Determining your budget and how much financial wiggle room you have makes your home -buying process run smoothly. Ideas such as getting pre-approved loans to cater for a payment or payment by flexible instalments should come into play.
3. Considerations as to the preferred floor in case of a building:
Most of the time, buyers lack awareness as to what to consider when choosing the floor they would like their unit to be situate when purchasing a house especially in an apartment setting. Ideally it is prudent to consider factors such as ground floors in the residential apartments can, subject to approval by the relevant authorities, be utilized for commercial use.
4. Plan for the Future
Some buyers make a common mistake in their pursuit of owning a home. It is imperative to ensure the location of the target home is strategic incase of planned developments in the neighborhood. For instance, In the case of a young couple, factoring in kids into their plan will be of significance to them in terms of accessibility to social amenities, security, modern child friendly facilities and most importantly, the home owners rules regulating the estate where the house or home is situated.
In order to plan ahead and make a worthwhile investment getting a property consultant to walk the journey with you is an ideal consideration.
At Property Boutique®, we guide you as a buyer during this critical transition period of home owning and ensure you leave nothing to chance.
By Esther Maina – Sales and Property Management Officer