We usually have a very clear idea about the type of home it is that we like or want to buy, but when it comes down to it there are some potentially overlooked factors that are imperative to keep in mind when it comes to making the right decision.
These are the 5 main mistakes to avoid before making the decision to buy a house.
1. Not analyzing our present and future needs
Most of the time when we look for a property, we focus on the present situation in order to choose where we want to live. It is nevertheless important to also consider things like if we are going to want to expand the family in the future, or if a change of job is on the cards that would allow us to choose another type of housing. As the investment made in a property purchase is quite significant, if we take into account all the factors in the short and medium term, we’ll be able to choose a house that can serve us for much longer.
2. Not calculating the purchase cost
To buy a house we not only have to look at the amount the sale price is, but we also need to calculate how much the purchase and sale costs will be, among which taxes are included. In the case of requesting financing, it is important to keep in mind the part of the mortgage that the bank will not grant, which is usually 20% less than the appraised value.
3. Not checking the property properly
It is not only important to make all the necessary visits to check that both the installations and the state of the property are in perfect condition, but it is also essential to ensure there are no pending charges or payments. To do this we can go to the Land Registry and request a simple note, which will also confirm the ownership of the seller.
4.Not checking the documentation
The sale and purchase transaction requires a series of documents. In addition to the simple note, the seller also needs to provide the property’s energy certificate, as well as the different utility invoices, and the certificate confirming there is no outstanding debt with the community, allowing us to avoid any nasty surprises.
5. Not going to a real estate agency
If we go to a real estate agency, we can get the professional advice of experts, who will help us to avoid any of these mistakes in order to make the decision that is right for us. We at Lasose Properties & Investments help you to manage the sale and purchase of a property, guiding you through the process so that you get the property that best suits you and your loved ones.
