When you decide to buy a house, it is important that you seek help from a real estate agent because he or she understands the market very well and deals with buyers and sellers on daily basis. However, if you need to live far away from the city and also have enough room to support multiple people including kids and pets, you might find the additional space (both externally and internally) that a house generally provides may be appropriate for your scenario. Remember that the contract comes into force on the fall of the auctioneer’s hammer, so you cannot pull out without huge cost after the auction. Apartments do not really need the larger quantity of external servicing (e.g. gardens, swimming pools) and a focus that a personal house will require, and the structure’s strata manager/committee will often look after most buildings as well as remedial work that is needed.
When inspecting a property, take along a checklist and camera and keep a record of places you’ve visited. Make sure that you don’t think that it is only how much the house costs that will determine your monthly payment. You can keep track of the houses that you are visiting by taking pictures, writing down descriptions and rating each house. The fact is, you don’t have a lot of control over your neighbors, and you can’t pick up and move your dream house away from apartment buildings, shopping centers, or busy traffic thoroughfares.
This could lead to bad feelings when looking for a house next time or could end your house hunting altogether. For 30+ tools to review a home, including sites to assess crime or flood risks, see the Free House Price Valuations guide. The exact amount which you are willing to spend will determine the kind of house that you should look for. You likely want to get the home for as little as you can without losing the house outright.
Thus, before buying a property, it is important to do an Approval In Principal (AIP) so that we know our loan eligibility and get the approval for the loan as well. Buying freehold, if you can, costs about the same as extending your lease by 90 years and you can usually then extend the lease for free, just paying legal fees. If you are a working professional, an important thing to consider when buying a house is the neighborhood accessibility.
At the time of writing, Elizabeth Weintraub, CalBRE #00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California. Buying a house is an important financial decision, so it’s crucial to prepare yourself by doing some research beforehand. When choosing the path of home ownership, the number one rule before the process can start-up is to have a sound and stable credit report. We’ve put together a home buying timeline to help give you an idea of the costs you can expect throughout the process. The house will probably come with basic chattels such as drapes, blinds and light fixtures, and may also offer appliances, saving on after purchase costs.