You wake up one morning to find that you have long thought of buying a home but you have never bought one. Now you are sure that you will buy a home in a months period. But wait ! the prices have skyrocketed and you have been window shopping. You feel bad and curse yourself for the missed chances.
Buying a second home in this situation is better idea and you can settle yourself with a good hunt if you take these points into consideration.
Get your mind set:
Be prepared mentally to accept your decision. Consult with your wife or your parents. Be strong on your decision. People may ask question and advice you otherwise. Don’t swing and change your decision from time to time between choosing old and new home.
Inside the city:
Don’t think of buying a house in the suburban or many miles away from the city. If that is the case, one can go for a new house at the same rate inside the city. The sacrifice you are making to buy old house should be compromised by the accessibility factor. You can get good Pre-Owned house in the place of choice
Inspect the building:
Thorough inspection of building is necessary. Use your contacts to get a civil engineer to inspect the house. Don’t think about the cost involved. Tell him to submit a report and ask for advice from him. Civil engineers are in a better position to understand the nitty gritty things.
Age of the building:
Consider the age of the building. A 5-10 years old building is good idea. As the age of the building increases it more risky and needs higher level of assessment.
Walk away if you don’t like the deal:
Be prepared to walk away from the deal and don’t get emotional. All kinds of sweet deals and promises will be offered by the seller. But if you feel the deal is not worth; say thank you and good bye
Dealing with brokers:
Brokers have the network to get things done. They can source you a good house. Explain your requirement to him clearly. Don’t hesitate to give him in writing what is your requirements. Before visiting a home for inspection, ask him whether the broker has understood the needs. Brokers will try to close the deal at war footing. Don’t fall into that trap.
Take your time:
Rejecting house after house will put your out of action. Fatigue factor will set in. Leave a gap of a week or so and then start fresh. Don’t lose heart. One fine morning you will find your dream house.
Get the feel of the neighbour:
Scan the neighborhood and enquiry about the environment. The house would be very good but the neighborhood will make you run away. After all you are going to live alone. You want you kids to live in a good environment.
Within your budget:
Just because you found your dream home you don’t want to buy it unless it falls within your budget. Spending too much and then scratching your head for payment is no good. Cut the deal if it does not fall within the realms of your affordability.
Prepared to spend on rework according to your taste:
Once you buy the house you can rework your house to suit your taste and needs. Prepare the sketch and do it. You can take your time and do it on regular basis. Don’t go for major renovation unless you have bought a house at a pretty cheap cost which surely needs renovation.
Do you have a fantastic idea, then you can share it in the comment section.