How to buy the perfect house.


Buying a house is a dream that many people have; however, due to the fact that they are expensive, not many people are able to afford a house. However, with the mortgage facilities available in the market, more and more people are able to afford to buy a house. This is because they have taken steps to make sure that they have the right financial plan to enable them to do so.

How can you also achieve your dream of owning a home?

Take care of your credit profile.

If you will be approaching a lender for a mortgage facility or a loan, you will undergo some checks including those on your credit profile. Make sure that your credit profile is good and avoid any purchases or expenses that will make a dent on your credit profile. Lenders want to see that you handle your money well, and if you have any debts or have overdrawn your credit-card, it will show that you may not be a very reliable person to give money to.

Make sure you are pre-approved for a loan.

 A lender will look at your finances and decide on whether or not you qualify for a loan. The pre-approval goes a step further because it means that the lender is now at the stage of negotiating with you the dollar amount. This will give you an indication of the kind of house you can buy because, you will be dealing from a position of knowing how much you have, as opposed to waiting to know how much you can get. Make sure that you are cognizant with all the additional fees that come with loans so that you do not dip into the loan amount to take care of them.

Get the services of a financial expert or mortgage broker to walk you through all the relevant documents.

Survey the property.

Get property consultants to survey the property you plan to buy. Such consultants include; evaluators to check if you are paying what the property is worth, surveyors to take care of any border disputes that may arise, conveyancing experts who will assist in the documentation and legal aspects of the purchase just to name a few. Do not buy a house from the comfort of your chair; make sure you do a site visit to ascertain that what you are paying for is what you are getting.

All these people come at a fee, and you need to factor this into your final budget.

Buy the right house.

 Look for a house that fits into your needs comfortably but has some knowledge on real estate as well, for instance, bigger is not always better, this is because the day you want to sell it off you will have a very small pool of people who can afford to buy the home.  Let your real estate broker advice you on the appreciation potential of the area so that you know if your house is a good investment or not. If you can buy a house that is close to social amenities and is easily accessible, but, this is a personal preference because some people prefer to live in remote locations.