8 tips to consider before buying a home

Buying a home involves great responsibility, as it is one of the largest investments a person will make. This is why it is essential to take into account some tips.

Last update: October 28, 2021

Investing in buying a home is one of the most important decisions in a person’s life. Not only because of the outlay of money that it implies, but because of the feelings that are associated with life in a new home. There are some recommendations to consider before buying a home that are of great building, financial and emotional importance.

In addition to the conditions in which the property is located, it is essential to make numbers and calculate a possible income or amortization time. On the emotional level, you have to take into account the life project, if you share it with your partner and if both are planning more or less the same.

1. Destination of the house

Although at first you think of the new house as an investment from which you want to obtain an income, it may happen that due to different circumstances it becomes your home. In such a case, it is important to calculate not only the profitability of the house, but the maintenance costs and taxes.

2. Financial condition

Assessing your financial situation is a good starting point if you have a home buying in mind. For example, ask yourself what income you have, the capital available to invest, the interest rates on mortgage loans and your ability to face them.

Your first proposal should be that you can pay it, no matter how much you use a line of credit. The duration of home loans is estimated to be between 10 and 20 years.

3. Taxes

Another important point related to the numbers is the tax burden on the house. The rates and taxes that are associated not only with the fact of the sale itself, but what are fixed. It’s important, because once it’s yours, you will be responsible for its periodic cancellation.

The payment of taxes and house bills must be calculated in advance to know what those fixed expenses are.

4. Location of the house

The area where the house is located is decisive, not only in its value, but in the chances of your price increasing over time. For example, check the surroundings to see if there are educational institutions, shopping centers, service areas, green spaces.

Also, take into account the accessibility in terms of streets and avenues, the means of transport and the security that the area offers. Is it close to your work and your children’s school? If not, make sure of the next transport.

5. Property characteristics

At this point there are many issues to consider:

  • OrientationAlthough we understand that it is not such a decisive factor, it is worth analyzing. Especially the side of the house that has the most windows. For example, the south and east orientation are preferred due to their good lighting and natural air conditioning.
  • Internal distribution: rooms, bathrooms, corridors and kitchen. If the spaces are wide, if they are well distributed and if they adjust to your family dynamics (current or projected in the future). In general, it is recommended not to buy a house that is larger than you really need.
  • Finishes: paint, floors, toilets, storage spaces and other finishes that you consider important to you. The material and finish will give you an indication of the type of building.
  • General state of conservationCheck the walls and ceiling for cracks, dampness, loose tiles. Much of this will depend on how old the house is and how it was used. You should ask yourself if it will be necessary to reform it and how much it will cost you.
  • Services: controls gas and water pipes, electrical installation, sewage drains, heating and air conditioning.

6. Lot size

Many times the size of the entire property lot is not taken into account. Maybe you can expand the current construction of the house or build another property within the same lot and generate an income.

7. Professional advice

We believe that it is crucial to have the help of a real estate agent for an operation of this magnitude. It is one of the recommendations to consider before buying a house.

However, also it is essential to inquire about the reputation of who you are going to hire. Get in touch with other people who have operated with him, find out that he has the authorization to work in real estate and other information that gives you confidence.

8. Technical advice

If you feel that a house really interests you, it is a good idea to request a second interview to go to a construction specialist. It may happen that the walls have some cracks, but we are not sure about the importance or severity of them.

This is why a professional look is essential before closing any deal. The same person will be able to give you more recommendations before buying a house, based on their experience.

A real estate agent can provide security in the buying process, considering aspects that tend to be overlooked.

Taking it easy is one of the best recommendations before buying a house

These considerations are only indicative. Sure there will be many more and perhaps some are more important than others, depending on your personal circumstances.

What we would like to emphasize is that Going from being tenants to owners is a giant and momentous step in anyone’s life. In this sense, the responsibilities are different and the motivations to keep the home in good condition will also change.

Finally, to make the selection process more orderly, we suggest that you put together a special folder with the different options of houses that you see. Register all the data that you consider important, such as price and payment conditions. We hope that soon you can buy the best house for you and your family.

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