Buying a house must be on the priority list of newly married couples. But of course you know when the affairs of buying a house, especially for the first time, is not an easy matter. You need to often discuss with your partner, also collect a lot of information and look for various tips on buying a home before deciding to buy the desired home. Do not let due to lack of planning, calculations, and information, the building should be the ideal home, even a place of residence that is not comfortable.
Here are some tips on buying a home that you need to pay attention to:
Home buying is a long-term affair. On these first home buying tips, Fox Business advises you to calculate carefully how much the costs and costs will be incurred totally for the new home. These include up-front payments, monthly installment payments, taxes, long-term interest, insurance, and other utilities, from installation of infrastructure, cost of commute, or the cost of repairs required.
Do not let you tempted cheap installment per month, but it turns out there are additional costs that have not been counted and so the number of numbers to be extraordinary. Calculate by imagining you and your family will occupy the house for years, then adjust to the household budget. Keep the limit is no more than 30 percent of your income as well as the combined income of you and your spouse.
Research and Compare Loan Sources
If you choose to buy a home with an installment or mortgage system, do not get tired to research and compare the mortgage offers provided by some banks. Still from Fox Business, try to calculate your loan interest bid carefully. Especially about the scheme chosen, whether using fixed interest, fluctuations, and others. Do not hesitate to also ask about the loan facilities that can be given by the bank to you.
Make Sure of a Good Credit Track Record
You should be very concerned about these third home buying tips, in order to easily obtain a loan or credit. Why? Because the process of mortgage and loan disbursement of funds can be complicated if you have a history of repayment of bad debt before. Especially for those of you who have had problems with credit cards or credit without prior collateral. You must make sure you have settled the debt problem or do not have a high debt load before applying for a home loan. Because the provider of funds will always see and calculate your debt ratio. If it is too high, it will lower the likelihood of loan approval to buy a house.
Read the Contract Carefully
For the tips on buying a home this one, you must be very careful in reading the various contracts or letters and documents. Neither the contract provided by the borrower of your funds or your house seller. If there is a term that you do not understand, ask to be clear. Meanwhile, if you want to change it, use your right to negotiate. If the agent or bank still objects to explain, many experts recommend that you replace the bank or the agent. Because there are still many who want to establish more open transactions with you.
Survey and Learn the Home Environment
Keep in mind that the house you will live in later is to raise your child and family. Make sure you have a survey to the location and know for sure the candidate environment and your neighbors later. Adjust the lifestyle you dream with your family later.
Do not Forget Home Devices
Set aside some of the costs of buying the device and home contents. Tips to buy a house this one does look simple, but no less important. At least you are setting up the minimum price of the home market to fill the house or it could be lower if you prioritize certain items, such as bed, bathroom, and kitchen. Do not get after having a home but can not fill it.
Separate Spending Budget
Home buying tips from financial planner Prince Financial Advisory, Lauren Prince is to separate and categorize spending as a couple. The categories are divided into three groups: survival, liveable, and comfortable. That way you and your partner will not be tempted to spend unnecessary and can still install the house.
Do not Wait for the Market
The movement of the property market is uncertain. Never wait for the market to go down or interest rates down. If the value of his house is suitable and count you, do not hesitate to buy. According to the Survey, if you wait too long for uncertain economic conditions, you may lose the opportunity to have the best home.
Big Does not Mean Better
Choosing a home at its core is adjusting. So do not stick to large sizes. See your neighborhood carefully, if the big house is the only one there, the possibility of reselling at a high price is very small.
Avoid Emotions When Choosing
The last home buying tip, but it’s important to keep in mind that you’re choosing a home instead of dating it. So do not be enamored of emotional things like a nice backyard, interesting paint, and anything else that is personal. After all, a home is one form of long-term investment, its value is determined from the location, structure, and other things that can make the value of the house increasing.