Buying a home for the very first time is surely an exciting time for anyone. However, some people might find the details of the purchasing process intimidating, especially if they have no prior experience in buying property. To make this milestone a more enjoyable and less stressful experience for you, we’ve put together a quick guide of things to consider before buying your first house.
Choose a location that’s convenient for you and your lifestyle
In any real estate purchase, one key factor to consider is location. Create a checklist of your priorities and take note of these things when choosing your home. How far is it from business districts, schools, medical facilities and other basic needs? Are there public transportation terminals nearby? Investing in a home in a prime location can also be a better long-term investment with good resale value
Get to know the neighborhood
One of the benefits of living in a village or subdivision is that you become part of a community. Before buying a home, learn more about the neighborhood and the community. Visit the grounds and amenities, meet the homeowner’s association and learn about the rules and regulations that govern the village. Knowing more about the community before you move in can help you better settle into the new neighborhood.
Learn More about the Developer
When it comes to property developers, it’s important for first-time home buyers to do their homework. It may be worthwhile to visit the property developer’s completed projects to assess their capability to build high-quality homes and subdivisions that can maintain good value over time.
Explore flexible payment plans
One of the most important things to consider when purchasing a home is that the payment plan (whether through bank financing or housing loans) is compatible with your financing capability, ensuring that you can afford the payments, from reservation and installments, all the way to completion and turnover. Ask your agent or property developer for different payment schemes that fit your budget.
Doing research and due diligence will help ensure that the first home you buy is the right fit for you, your family, your lifestyle and your budget. Subscribe to Nurtura’s newsletter for more tips on real estate investments and home living.
Photo 1 and 2 from Nurtura Land & Home
Photo 3 from Rental Realities via Flickr. CC BY 2.0