We will not tell you anything by saying that the purchase of a house can not be improvised. However, there are so many things to think about that it’s very easy to forget a little detail that may ultimately be important. In this article, we will review those things that prospective buyers can overlook.
Even if you are very meticulous in examining a home, if you are not a real estate professional and, you will undoubtedly miss out on some things. Most faults will not be catastrophic, but picking them up is important. You must buy your new home knowingly and have arguments to negotiate the price.
If the owner claims that the house has already been inspected by another interested person, be sure to do your own inspection. An informed buyer is worth two.
Soak up the atmosphere of the neighborhood
There are many small or big flaws in a house that can be remedied. But if there is one thing you will not have any control over, it is the neighborhood in which the dwelling is located, as well as the neighborhood. If you are really interested in a house, do not hesitate to soak up the atmosphere that reigns in the neighborhood as you walk through it. In the morning, in the afternoon and in the evening.
You also have an interest in trying to talk a little with the neighbors. No one is forced to become a great friend with their neighbors, but it is better to make sure they are good people with whom you can maintain cordial relations. How to approach them? Just tell them that you are interested in a neighborhood home, and want to know more about it.
Make a scrupulous budget
The approval of your mortgage application by the bank does not necessarily mean that you will have the means to repay. While it is true that the new stress test for mortgages has tightened conditions to avoid default, even for a loan renewal , it is not a panacea either. So make your own budget to determine if your mortgage repayment can be done without putting you in financial difficulty. It is much wiser than asking the bank for an amount based on your desires, saying “we’ll see”, and considering the bank’s approval as the validation of a budget that does not exist.
Define your needs and priorities
Unless you have large incomes and comfortable savings, you will be faced with choices . There is little chance that you will find the perfect home. Whether in terms of area, garden, garage, location, amenities … We will have to make choices. Its not always easy. Sometimes emotions can take over the practical aspects of a home. To help you make the most rational decision, it is in your best interest to list your needs and desires in order of priority. This will help you fall into the emotional trap sometimes strained by real estate purchases .
First purchase of a house: do not have eyes bigger than the belly
If you are young and this is your first home , do not have eyes bigger than your stomach. If it is perfectly conceivable to spend all your life in the same house, it is rarely the case. Typically, this is a transition. It is better to remain humble in his wishes so as not to put you in financial difficulty. If your situation improves, there will always be time to think of an upgrade.
We all want space, but choosing a house too big also has its share of disadvantages. This will substantially increase your energy bill , it’s extra maintenance, and so on.
Get advice from a mortgage broker
Contrary to what you might think, the fact that you are a good customer of your bank will not necessarily play in your favor in obtaining an attractive mortgage . Of course, this can be a plus for the approval of your mortgage. But in terms of rates and conditions, banks tend not to favor their customers, only the opposite. They prefer to fight to try to attract new customers than to reward their loyal customers … even though there may be exceptions.
Anyway, you have every interest in shopping . To find an attractive rate, but also conditions that suit you. Mortgage is a much more complex topic than fixed rate issues or floating rate, interest rate. Penalties, early repayment … here are other clauses to examine closely.
Find the perfect mortgage with the advice of a broker
Turning to a mortgage broker will solve all these issues. He works with a multitude of lenders, so he will be able to find the best rate for you. But his sharp knowledge of the subtleties of the mortgage will also be a huge asset to find the mortgage loan perfectly suited to your situation and your wishes. The broker does not present any additional charges compared to a loan that you would make yourself at a banking institution. It is the guarantor of the defense of your rights and your interests , and the only one able to give full play to the competition.