Access to housing is usually one of the most important economic investments in people’s lives. That applies both in the case of buying a home or renting it, with any type of financing. It is natural to ask oneself what considerations are necessary in order to have a knowledge base before acting.
On many occasions, the benefits of acquiring a new or used home, exceed those of building one. It is impressive to see the number of vacant houses and apartments available in the city waiting for future businesses and renovations. This is where one can take advantage of what already exists and reduce large expenses. The contemplations of buying a home go beyond the ones of renting. They address issues ranging from regulations to the passage of time both in relation to materials and the urban context. The following are some tips that might be useful!
Location for Buying a Home: Check the Urban Context and Its Development
It is not only the orientation that is fundamental. Reducing the energy costs of heating and lighting matters a lot. The understanding of proximity and access to basic services regarding health, supply, security, and transport count too. This is closely followed by other minimum requirements, such as electricity and gas systems, lighting, waste collection, and sewerage. It’s a good idea to visit the site on a rainy day and check for waterlogging or flooding.
In this sense, it would be useful to inquire about infrastructural projects and social processes. Check all that is occurring in the surroundings as well as on a neighborhood scale. You need to know everything related to issues that may increase or decrease the value of the property in future purchases or sales.
Know the Local Regulations and the State of Regularization of the Property
Think about your long-term plans and check if local regulations will allow your next home to adapt to your needs. In many cases, ignorance of building regulations can defeat your plans of extension or renovation. It is also important to know if the housing is properly registered and complying with the municipal requirements. Aim to avoid any legal inconvenience or major additional expenses (especially if the former residents had pending fines).
Buying a Home? Take the Materials Into Account …and the Way They Will Age
The materials do not last forever. It will always be necessary to understand that at some point you will need to invest in both painting and repairs of some kind. Taking time to review the finishes and the quality of the materials may be relevant for knowing what you will confront in future maintenance.
The Structure and the Installations Are Very Important
Not only is it necessary to check the installations, but also to understand the structural system of the house. Start by trying out the water pressure or check the electric meter and boards. This will help you to quickly understand the capacity of extension in the case of renovation and to avoid a headache. Going back to issues related to regulations, it is especially important to check that the installations are meeting the current requirements, it can be a big problem for your economy to update them.
Beware of Home Staging
Remember that furniture and decoration determine the success of a space- especially due to the relationship you have with them. You will not want to buy all the furniture new in the case that yours do not fit the future home. In this sense, it is necessary to pay attention to the staging offered in sales situations and to try to visualize the space with your own belongings.
Check Recurring Expenses and Anticipate Maintenance Costs
You can buy the most economical house you can find, but quickly notice whether it was a good or a bad idea based on the expenses you have on a regular basis. It is essential to check these costs in advance to avoid surprises. For example, find out if there is any subsidy in the rates of services, the cost of cleaning, sweeping, and lighting of public spaces in the sector or taxes associated with owning housing.
Search for Price References
Check the price range of similar housing listed in the desired sector. You might be surprised how ignorance of the market might affect you. In this sense try to inquire about construction costs and what different real estate companies offer. It is always advisable to become an expert on the subject and to have different views on the matter.
Talk to Your Possible Future Neighbors
Whether it is a house or an apartment, it is more than interesting to know who your future fellows might be. Research can also tell you those small and important details and their perception of the area. Moreover, you can learn more about the reason why the former residents have decided to leave.
Check the Necessary Procedures and the Extra Costs of Buying a Home
The process of buying and selling housing is clearly not a simple task. Therefore, multiple factors might affect the amount of money you had considered – especially with issues related to regulations, such as payments to commissioners and notaries. For any matter, we always recommend turning to a professional for advice.
Know Your Rights as a Consumer in the Real Estate Market
Oftentimes we know our obligations but are unaware of our rights. In the case of real estate, where investments are very high and there are a lot of variables at play, it is important to find out which ones correspond to you and to be prepared.