Looking for a property may be overwhelming for a lot of people. All of the time spent working hard to save up money to buy a property has built up to this moment and the pressure of being able to invest in the right property can be a bit tricky. There are countless things to consider when it comes to choosing a property, but we’ve come up with a few tips to help you decide:
Find the Right Realtor
Finding the right realtor is a critical step in being able to find the right property. Find a realtor who understands you and what your needs and wants are. As you’ll be spending a lot of time communicating and meeting with your realtor, your realtor must be someone who you have good chemistry with.
Remember that a realtor may be experienced but that does not necessarily correlate to him being the right realtor for you. Another useful tip in finding the right realtor is for you to ask around. Ask your families, friends, and even colleagues about their experiences with realtors in your neighborhood.
Think About Your Finances
Always consider your finances. It is helpful to look for an independent financial adviser to walk you through the process of getting a loan and to help evaluate a suitable budget for you. Furthermore, you should also be mindful of having sufficient funding for the deposit. A sale will usually require 5% to 10% of the purchase price as a deposit. On top of this, there are other associated costs as well that you need to consider such as taxes, moving costs, improvement costs, and the likes.
Write Down Your Wants and Needs
Writing down a list of your wants and needs is another critical part of being able to choose the right property. Once you start going to viewings and open houses it can be easy to get carried away by what you see, but as long as you have a list of your wants and needs, it’ll be easier to stay on track.
In trying to make a list of your wants and needs, consider your priorities in buying a property. Is the location of the property important? Do you want a property with a big backyard? Should the property be near a school or a mall? How many rooms do you need? Or how many slots does your garage need? These are some of the things which you might need to list down.
Decide on Your Non-negotiables
Having a list of your wants and needs is a good thing and there might be occasions wherein you might need to compromise on that list, but you also need to decide on your deal-breakers. You should be aware of the things that you are not comfortable with letting go. Inform your realtor of these deal-breakers and be patient in looking for the right property.
Always think long-term when trying to look for the right property. Buying a property is a huge investment and if you don’t see yourself living in the property for a long time, then it is probably not the right property for you.
If you’re planning to start a family, then consider buying a property with more rooms. If you already have a family, then consider a property that’s near a school or a playground.
Do Your Own Research
On top of everything your realtor has shown you, it is also beneficial to do your research. You may research on the neighborhood or just simply do a Google search on the events, activities, and local hangout spots in the community to help ease your mind in deciding on a property.
We hope that this article has helped you be more prepared and informed in looking for the right property for you. Feel free to reach out to us today should you have any questions.