Posted on Jul 11, 2015 at 07:06 PM
Buying property can be tricky – with all the complex terms and brokers trying to confuse you with the fancy talk. If you are on the lookout for some new property, we’ve got your back. Check out these real estate tips that will surely come in handy while buying a home:
Location is the key!
This is an old rule but it is well worth repeating. Real estate investments are more likely to reap you high rewards when your property is in a prime location. Look around the neighbourhood, the amenities, the neighbouring schools and other institutions to know how profitable this investment will be for you in the future.
Quick Tip – Neighborhoods which are close to upcoming projects like metro stations and airports will make for good investment.
What is it that you are looking for?
Everybody has different requirements when it comes to a home. Know what you want from a home before you start your search. Is a short commute to work your number one requirement or a kid friendly neighbourhood? Is peace and quiet what you are looking for or a locality known for its nightlife? Prioritise your needs before picking a home.
Quick Tip – Is your office and a good school for your kids close by? Does the environment match your needs? Explore the neighbourhood at different times of the day before buying the place to see if it suits your requirements.
To avoid going overboard, decide on the budget for your new property. Make sure that you stick to the determined budget. Buyers tend to make emotional decisions when it comes to homes due to which their pockets take a hit. When it comes to property, take a rational decision considering all the pros and cons instead of an emotional one that you might regret later.
Quick Tip – When you start looking at homes, you will be overwhelmed with all the options. To avoid getting confused, make a list of pros and cons of every home that you see right after. This will help you later when you need to compare and pick the best one.
Play it smart
There are a lot of small tricks to getting a good deal in real estate. Do a thorough research before starting your search. If you are looking for a great place to live which will also prove to be an asset no matter what the market is like, go for a villa instead of an apartment.
Quick Tip – If you are still feeling overwhelmed and need some solid advice on what to buy, get expert opinion or look for a review by a certified agent. If you have any trusted agents, friends or relatives in the real estate business, get them to check the property and prices for you to see if you are getting a good deal.
Modify your house to your tastes
Once you are ready to zero in on a home and are confident that the home you have selected matches your needs, lock in and start adding the features and modifications you need so you get a home fit for your needs when you decide to move in. Adding them later will prove to be a disruptive activity that disturbs your entire family and lifestyle.
Quick Tip -The chances of you getting a home exactly the way you want are very slim. Keep some money aside in your budget for modification and renovations.
With these tips in mind, go ahead and start hunting for your next home!