"Are you First Time Buyer?” The things that Need To consider Before Buying a House
Wednesday Nov 20th, 2019Share
For most people buying a new home is once in a lifetime affair and thus needs much care and thought before committing hard-earning money. Sometimes it can be very confusing, and you must be clear about all the aspects entailed in such transactions. However, there is more to a home purchase than choosing your favorite listing and moving in. It would be best if you considered several things before buying a house that can help you to make the right decision.
First of all, you need to ask yourself, “is it the right time for you to acquire a house?” Do not buy a home just because everyone is doing it or because a relative of yours told you that it’s silly to throw money away on rent. Don’t purchase a home because it’s a buyer’s market or just because of low mortgage rates. Acquire a house because you wish for being a homeowner. Buy a house because you are settling down and require having a place to live for a minimum of five years. And only buy a home if you are financially ready.
The next most important thing to consider is the location of the house. Buyers want to find an area that has comfortable places they frequently visit, such as work, school, shopping, recreation, place of worship, friends, and family. Also, check for easy access to the main roads and traffic flow. Ensuring this out previous to purchase can help you to save yourself from hassles getting out of the neighbourhood and onto the main street or from an unfairly long commute.
Moreover, don’t forget to check the temperature of the home when you are buying a house. Since Heating and cooling systems are very costly to fix and replace, and unproductive ones can eat away at your utility bills. Ensure that the furnace is up to date and in proper maintenance.
Furthermore, have a home inspection done; there is only so much you can do with your five senses. You will also want to hire a professional to make sure that the foundation is solid and the wiring is up to code. Home inspectors will also check for lead paint and wood-eating pests.
Not only this also estimate the total costs of running the home, which include maintenance charges, property tax, and increased commuting charges as compared to your present place. Please ensure that this fits in your monthly budget so that it would not become a problem for you.
Above all, Use a trusted real estate agent. Remember that the seller, not the buyer, pays the commission. A savvy buyer agent who works for you can look after your interests and guide you through the buying process from negotiating a price to navigating home inspections. Most importantly, check up all needed legal documents, utility requirements, municipal regulations, and deposits will be their duty.
All in all, Make sure that any house that you do decide on meets all your needs or has the potential to do so in the long run. If you need any advice on buying your first house, do not hesitate to reach out to trusted Toronto Real Estate Agent Alan Zheng at 6478779311.