You’ve watched your savings rise slowly but surely. You’re finally at a point where you and your spouse can finally make the decision to pull the trigger and buy a house. Be thankful that you are making this decision in modern times as opposed to decades past. You have so many tools and options right at your fingertips. Where once you had to rely on what the real estate agent said, you can now double and triple-check their advice. The real estate agent no longer holds the power of knowledge over your head. If you take your time and do the proper research, you will always be one step ahead of them. When you have fully informed about the process of buying a home, you will know what to expect and therefore, what to demand also. This is how you should approach home buying, in the modern-day.
Don’t limit your location
Even just a few decades ago, you would have been limited by the choice of properties you could live in. having the money to buy a home would be one thing, but being able to afford to live in it, would be another. The reason being, the infrastructure on a grand scale, wasn’t there. Moving to a beautiful home situated in a fantastic landscape location, was not a good idea unless you were wealthy. However, nowadays, you have many more options for commuting to work. There are more streets and highways, as well as train lines and small airports than ever before. Therefore, you should not limit your geography right off the bat.
Transportation infrastructure should be part of your criteria. Whenever you have found a home that you like, always research the general performance of the local infrastructure. Are traffic jams frequent? How many people use the train station and do trains mostly arrive on time? If you’re in a more rural area but work in a city close by, is there a small airport which you could use? If you’re commuting to work via highways, are there multiple options in case you get bogged down? If you have positive answers to these questions, then you can take a particular property more seriously and you won’t need to limit your location.
Make a property wish list
Buying a property is a massive step forward in your life. It’s not just a financial challenge, but one that will be a test to your relationship and family life. Therefore, you have every right to be selfish and demand a property that meets your wishes. Creating a property wish list will show you what kind of property you really want. If you approach the process of buying a home with a defeatist attitude i.e. you’ll take anything, you will not be happy with your purchase. Here are some of the benefits of creating a property wish list.
- You bring your true desires to the forefront of your mind. The list will tell you more about yourself.
- It gives you a visual representation of what you’re looking for in terms of property design and features.
- It’s a great opportunity to future-proof your property, so you’re buying a home that will only increase in value and not decrease or stagnate as the property market changes during the next decade and beyond.
- A property wish list gives you a firm reality check, showing you what is within your grasp and what property types and styles are too far out of reach.
- Wish lists also remind you how important local amenities are, such as food stores, restaurants, movie theaters and schools for your children.
A wish list will make apparent, your deepest desires for what your dream home should be, as well as shining a light on your financial situation. When you arrive at a real estate agent’s office, you will have a clear picture of what you want in terms of design and features also.
Don’t take their word for it
The most honest thing you can do for yourself is to understand that the property market is a sector. The real estate agent is a business in this sector. The more you can distance yourself from the entities that operate in the market, the more power you will retain when it comes to any financial negotiations. Never take their word for it. If an estate agent sings high praises of a property in an email or on the phone, demand pictures and videos of said property. Don’t book a viewing unless you have seen one or both. It’s your right as a client to demand a virtual tour of properties and these days, it’s become the standard. Any real estate agent that doesn’t have a video tour of one of their properties, is simply not putting in the effort, for which case you shouldn’t trust them. Or, they are trying to hide something.
It’s well known that properties which are hard to sell, will have less information than those that are receiving a lot of interest. Real estate agents hope you’ll book a viewing and they will use their persuasion tactics in-person on the day to seal the deal. Go onto Google Maps and find those properties you’re interested in. Study the roads, streets, and amenities for yourself. If the agent hasn’t provided enough information about the neighborhood, then take it upon yourself to find out. Search for the local crime activity and read as much as you can before making a viewing date.
Know your financial options
Take your time. Remember that when it comes to finances. Just take your time to find the best options. Once you sign on that dotted line, you will be frozen into a contractual bind from which you cannot get out of. Therefore, weighing up all your options and finding the best mortgage is the single most important thing you can do when buying a home. However, it’s prudent to give the responsibility of finding the best mortgage to an entity that does it for a living. A mortgage broker such as Altrua Financial has a plethora of property buying mortgage services. Their experts will scour the market in search of the best financial institution of a company that is willing to give you what you want. Just give them the terms and conditions that you’re willing to sign up to and, they will do the rest. Finding a mortgage provider that is compatible with your circumstances, is what a broker specializes in. They will seek out the lowest rates, more options and give you industry-respected advice.
Sustainability in design
The modern home search is dominated by one thing nowadays. Is the home sustainable? Energy efficiency is incredibly important in today’s climate. Governments around the world are creating new policy and legislation, that demands modern homes become more eco-friendly. Thus, there are two things you need to ask your real estate agent. How energy efficient is the home? And, is the property able to be upgraded to different energy-efficient means such as solar panels and water heater systems?
A property with the latest materials is also going to be much better at trapping heat inside the home. Therefore you will not need to keep the heating on as long or kept as high. Double-glazed windows aren’t enough these days, but triple-glazed technology is. Ask the agent, when the insulation was put in? Insulation needs to be replaced every 10 to 15 years. Older materials used for insulation won’t be as effective as modern fibers.
You have so many rights as a property buyer these days, it would be a shame not to realize or exercise them. Demand to see a virtual tour of a property before you make a viewing date, and ask whether the home is modern in terms of energy efficiency.