Once a friend of mine told me that he wanted to buy a big property. He was waiting for the right time when he would have the money and afford the property. Until it was too late. He regretted his decision.
Another friend regretted stretching his budget for an overpriced property. It was quite late when he realised the actual value of the property. He regretted his decision.
You do not have to be another person who makes similar mistakes.
Calculate your budget
Before you embark on your house buying journey, calculate the amount you are comfortable to pay. Know that there are other expenses.
Understand Listing Price
Know that the amount a particular house is listed at is not its actual value. It’s inflated, on most accounts.
Calculate the value of the property
With the help of your real estate calculate the value of your property by yourself. Speak to an expert if you are unable to do it by yourself. You can even contact a professional appraiser.
Speak to the seller
Ask the seller various details about the house. Ask the seller why he or she has priced the house at that particular amount. Ask about the House’s age, the renovations made and and recent upgrades. Ask for receipts.
Speak to your estate agent
Ask your estate agent the market prices. Ask your agent when the house has been listed. If it’s been quite some time since it’s listing it may be priced higher than its actual value.
Ask your agent to negotiate
Your agent has numerous negotiation techniques up his or sleeve. Ask your estate agent to negotiate with the seller. Good negotiation can bring down a property’s price from its over inflated value.
Before you make the final choice, enquire about the location, the house and it’s previous owners.
Do not be swept off your feet every time you see a beautiful house. Think logically. Ask yourself what are the things that you will be paying for? Is it worth it?