Top 10 Real Estate Tips for Purchasing House in 2018 – When buying a home, make investments your asset! As the time is running the importance of investing in right real estate property has become important. One can witness multiple of real estate projects blooming. Someone who lives in Chandigarh, Zirakpur and Mohali, Flats and Apartments is the future of residential places. It has been a popular demand but what actually you need to know when you buy a property? Get in touch with top 10 real estate tips for purchasing house in 2018.
Whether you want to buy a well-constructed house or ready to move apartment, real estate property prices are still unpredictable. The current market situation can help you know the right time to invest in houses. The prices go up and down all year round. They vary with land to land like Chandigarh is costlier in some parts whereas property in Panchkula is low in many. Maple Apartments share some insights through our post, ‘Top 10 real estate tips for purchasing house in 2018’.
Real Estate Tips And Advice For Buyers
- You need to know the difference between investment and asset. For those who are buying a house for the first time, it is best to invest in a location that will reap better prices in near future. This means a small house in the best location versus a large house in less preferred location will be an asset. Best location can involve multiple factors like markets gardens, schools, proximity to city life etc.
- Setting your budget is like playing safe cards. Narrow down the choice of property in terms of budget. Going out of pocket can land you in a financial rundown. It is best to meet as many mortgage lenders to get a pre-approved mortgage. Always look at the extra fees, processing fees or points with hidden costs to protect you against future shocks. This will help in setting the correct budget for further investment.
- It is best to do research in your nearby locations or neighbours. Do a small survey and also know about the property tax. This will help you avoid any mishap or dispute in near future. Try to know more about the builders or real estate Company promoting it. This is to avoid conning or fake real estate agents.
- Raise investments for sleeper costs or hidden costs. These are the investment which focuses on investments apart from the mortgage payment. It is suggestive to save money for sleeper costs like repairs, property taxes, utilities, maintenance, potential property-tax increases and homeowner-association dues etc.
- It is better to go with instincts. Buying a home is a great financial decision. Thus look at all the possible benefits that you can get from that particular property. It is better to go for value over price and quality over beauty.
More Home Buying Tips 2018 For First Time Buyers
- The best time to buy a house is when you have the matching house of your choice and you can afford it. The real estate markets are cyclical. They go up and down all the year round. You cannot be sure about a particular time. Thus, do not miss on best waiting for the time of market to be in your favour.
- When buying a house, you should have a look at the benefits and quality infrastructure. Such investments are long term. Thus, no one likes to end up buying a property which is made using poor quality material that lasts for 5-6 years only. You can hire a broker or home inspector if you want. They will provide you good options.
- Give value to nearby places and neighbourhood. You might have the dream house but you wouldn’t want to compromise with your peace. Thus, it is good to have a check about the surrounding neighbourhood before purchasing the house.
- Real estate builders are many but go for genuine and professional. Read online reviews, consumer ratings, complaint pages, personal reviews and know about their projects.
- In some case, lease-back is an option. You can slow the process of purchasing by the time you shop for a replacement. Usually, the period given is 60 days until that time the property is contingent.
Conclusion:
The above are some good tips that first-time buyers can apply while purchasing a house. Quality, peace, amenities and value are some points that you should look while making long term investments. I hope the article was beneficial to you.