12 Tips to buy your house or apartment in 2021
House or apartment? Cash or credit? Where do I begin? If you are looking for a home to buy, surely you have asked yourself some of these questions and many more. Don't worry, it is normal to feel so many insecurities and especially when you buy your first home. Here we present 12 tips to buy your home safely and make your dream of owning your own home come true in 2021.
Estimate the budget
According to Ben Siggins, the first thing you should do before buying your house or apartment is to determine what will be the maximum amount that you will be willing to invest in your new home. It is important to establish a real value to avoid losses visiting properties that are above your budget.
Determine the payment method
Now that you know how much you want to invest in your new home, you must define how you are going to pay for it, with your savings? With your bank? IESS? Can you combine them? The best thing to do is to buy it in cash, but if you don't have enough money, don't worry, since currently, you can buy your home with very low and convenient interest rates, with terms of up to 20 or 25 years.
Start the search for the home you need
At this point you should make a list of the requirements you are looking for in your new home and order them from highest to lowest importance, as it will be really difficult to comply with all of them and you must focus on the really important points. The experts at Bromley Estates Marbella, a trustworthy estate agency in the area of Marbella, claim that "the most important thing is to know exactly what you want and what is not flexible in your new home purchase".
If you are one of those who love technology or have a very busy life, we recommend that you not only focus on searching Internet portals, but also spend a weekend exploring the areas or visiting real estate agencies such as the best one, Caribbean property experts Caribbean Escape, will helpful for you in this case. You can find very good deals out there.
Choose the type of seller you want to negotiate with
In the course of your search you will surely come across different types of sellers, we classify them into 2 large groups:
- The Owners: This group refers to the owners of the homes, they can be 1, 2 or several people at the same time, when it comes to heirs, who put their properties up for sale for different reasons.
- The Realtors: Here we group both the Agencies and the Licensed Real Estate Brokers, who are dedicated to the sale of real estate and can offer you better advice when buying your home.
You have all the freedom to decide with which of the two types of sellers you want to negotiate and who gives you greater security and confidence.
Visit the home you want to buy
Now that you have selected the home, it is necessary that you know it, for this you must schedule a visit to the property, so that you can see all the benefits that the house you selected brings you and verify that it is precisely what the seller has offered you and that everything is in order. Take the opportunity to visit every corner and imagine yourself living there.
Find obout the advantages of living in that neighborhood
If you’ve found the right home, it is important that you know the benefits of living in that area, you just have to go out and explore the neighborhood and ask the neighbors about the advantages of living in that place.
Make sure there are no impediments to the sale
It is very important that you make sure that there is no lien, mortgage or any type of impediment that prohibits the sale of the home you have selected. You can verify this by requesting the updated Lien Certificate.
Cheer up! Make an offer
If you have already found the house or apartment you were looking for, it is time to make an offer for the property. It is important that before doing it you investigate the real price of the property. Remember that in most cases, owners tend to overvalue their properties due to sentimental or personal factors. On the other hand, if you decided to buy through a real estate agency, they will be able to advise you on the prices that are handled in the sector. This way you can avoid overpaying for the house you like.
Make sure your mortgage will be approved
If you decided to finance the purchase of your house with a mortgage loan, you must make sure that the bank will be willing to lend you the value you need, for this you must approach your account advisor and request a prequalification of the credit, each bank will have its own requirements .
Request proof of water, electricity, administration
Before formalizing the purchase of your new house or apartment, verify that the property has no pending payments, since the seller must take care of delivering the house with all its payments up to date, unless they establish an agreement with you. For this, it requests the vouchers for water, electricity, administration or aliquots (in case of horizontal property) and municipal taxes.
Prepare the documents with a professional
The purchase of a home cannot be taken lightly and especially at the time of making the Property Deeds, which are the document that accredits you as the owner of the property you just bought. This document must be written and signed by a lawyer or legal professional, who will include the necessary clauses to ensure your investment.
Pay taxes and notarial and registry expenses
Finally, we advise you that within your budget you include a reserve for the expenses that you will have to pay to legalize the purchase of your house or apartment. These values are calculated according to the price of the property and correspond to attorney, notary, registry and municipal expenses.
If you do not have time, either for work, studies or some other reason and you need help or advice to find and buy the house of your dreams, Caribbean property experts invite you to know our Real Estate Personal or Real Estate Purchasing Assistant service, where we help people like you, to find the ideal place they are looking for within their budget and with everything you and your family need.
