become independent and get a home of your own It is one of the dreams of most young people and adults. However, this process can be stressful and confusing for someone new to real estate.
If you are planning to buy a house or apartment for the first time, check out the following advice from Stefany del Pinoa real estate consultant and owner of Consulhogar.
- Seek advice: Always go hand in hand with a professional who can advise you regarding the purchase/sale of a property and in turn review legal documentation with a lawyer.
- Be clear about the budget for the entrance of the property: You should know how much you can put down for the purchase of a property. They usually ask for at least 20-30% down.
- Know the interest rates: Check at the moment the interest rate maintained by the financial institution with which you want to acquire the property in order to go for a mortgage loan and obtain pre-approval.
- Plan borrowing capacity: In the case of a mortgage loan, review your debt capacity carefully, that is, do the accounts and be clear about the monthly payments to be made without affecting your economy.
- Prioritize location: You must be clear about the location where you are going to buy or lease. It is recommended that it be a sector that has several centers, establishments and roads within its reach. Safety is also a factor to consider.
- Think ahead: It is valid to think as an investor. Many people analyze the profitability that their investment deserves (less maintenance expenses, capital gains from the sector and area) in the future case of leasing and having a passive income.
- Review details: At the time of renting: consider that the property is in optimal conditions and functioning. For that, they must have a pre-delivery to give the last check of the details that needed to be reviewed at the time.
- Not listening to everyone Buying a house is not the same as buying a car, it must be done with a lot of responsibility, but the final decision is your own. Many times the family can advise us with the best intentions and it is normal that they do so based on their beliefs, but those who did not have the best experience does not mean that you will have the same reality.
- Choose the home that suits your needs: Nowadays, young people are looking for something easier to maintain and that does not require a lot of money. For this reason, they are looking for functional departments a lot. If it is a property more than 15 years old, they think twice except the condition of the house and its market value.
- Know the regulations of the place: When renting/buying a property, be sure to investigate the environment and environment where you are going to live. Each urbanization has its regulations and some more exclusive ones qualify the owners and tenants.
Source: Eluniverso
Paul is a talented author and journalist with a passion for entertainment and general news. He currently works as a writer at the 247 News Agency, where he has established herself as a respected voice in the industry.
