Purchasing a house can be quite frustrating and tiring. There are so many requirements that need to be fulfilled and you might end up making some costly mistakes. Here are a few tips to help you purchase a house successfully.

  • KNOW WHAT YOU CAN AFFORD: As a first-time buyer, you should be able to determine the type of house you can afford. Do not buy a particular house just because others are buying it or because it is new on the market. Buy within your budget. Remember, owning a house comes with added cost and responsibility. So, buy wisely. You can ask yourself these questions:
  • How far can I stretch my budget to acquire my dream house?
  • What amount will be too much for me?
  • Am I buying for investment purposes?
  • What is my preferred location?

The job of real estate agents basically is to convince you to buy a particular property. If you get into the real estate market without a fixed budget, you may be persuaded to buy a property that is way above what you can afford. Some other times, you can be presented with so many juicy deals that you might consider borrowing some money from the bank or a friend to be able to acquire the property, but here Is the danger, paying back these monies with huge interests could have been avoided if only you had a budget in the first place. It is very important therefore, to have a particular budget before venturing into the real estate market. Even if it is not a fixed amount, try having a range. For instance, $100,000- $200,000.

  • RESEARCH ON NEIGHBORHOOD AND LOCATION: Once you have finalized your budget, the next thing to do is to research on the location where you want your dream house to be. While researching on the location, you might want to consider the following:
  • Does the area have good schools for my children to attend?
  • How quick will it be commuting from that particular location to my workplace?
  • Is the area well-secured?
  • Does it have the usual water and electricity story?
  • How close is the nearest shopping center, hospital, bank etc.

Sometimes, the houses for sale at the location you prefer may be way above your budget. In such situations, you may choose to reconsider the location or readjust your budget.

  • FIND THE RIGHT AGENT: I cannot stress the importance of this point for any first-time buyer. The truth is that being a first-time buyer, you might not have in-depth knowledge on the happenings in the real estate market. A lot of things might elude you and you would need a good real estate agent to be a guiding lamp for you. This idea might seem to some a terrible one because of the many stories of fraudsters who pose as real estate agents and end up robbing prospects off their money. Nevertheless, know that your journey will be smoother with the right real estate agent. Your real estate agent should be abreast with the happenings in the industry. He/she must be reputable in the real estate community and also show some commitment in getting you the right property at the best price. If at the start of the relationship, your real estate agent does not show any of these traits, please try another.

[Read more about real estate agents here: https://housingfaironline.com/five-things-to-look-out-for-in-a-good-real-estate-agent/]

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