Are you going to buy a house? Follow our five tips to make it easier
MoraBanking | 09.03.2018
Buying a house is always an important decision in anybody’s life. Whether it’s your first home, a place for spending your holidays or because your family has got bigger, buying a house is a momentous event.
So that it doesn’t turn into a headache, we have these tips to help you make this new project as straightforward as you thought it would be.
- Decide what you want. A semi-detached house? A flat? Three bedrooms? It is very important that you have a clear idea about what you are looking for, as well as how much you have to spend. Although it may seem obvious, having these factors clear in your head is the first step to take before you start house hunting.
- Seek out the assistance of an estate agent. This is the best way of finding out the options available on the market and of saving time looking on your own. Moreover, estate agents give you information about the procedures and legal documents that will be required, and they will assist you throughout the sale process. You can also use the various real estate platforms currently on the Internet, whether through websites or mobile apps.
- Look into the legal processes you will have to go though, as well as the estimated costs involved. Your estate agent can provide you with more information about the specific procedures for every type of house.
- Check that the asking price is in line with the market price. It’s not just about not paying more for a house than it’s worth, but also that if you are thinking on taking out a mortgage the real value is checked through a valuation survey and the mortgage grant will be studied based on this estimation. If the price is very high, the difference between what you will be lent and what you will have to pay will also be high.
- Find out exactly the situation of the house you have chosen. It is very important to have all the information about the property you are going to buy so that you avoid any surprises in the future. You will be able to obtain information about a property’s situation from the land registry. It is also important that you know what type of costs are associated with a purchase, such as homeowners’ association fees and other types of costs.
If you need help to pay these costs, find out about the different mortgage alternatives open to you according to your priorities with regard to the rate of interest, the mortgage repayment term and the deposit you will put down. We have several mortgage options. If you would like to find out about them, follow this link, go to one of our branches or call us on +376 884 884.
Perhaps the most important thing of all is that you take the decision having weighed up all of the possibilities, knowing full well your financial position and that you take your time about it, as it is just as bad to let an opportunity go by as it is to choose something that you are unsure about. If you have taken all these details into account, you will be ready to seal the deal when the time comes.
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