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| Best 8 Tips For Buying Your First House In 2020 |
Purchasing a home is the most important decision of your
life. Every person wants the best house at a reasonable price.
It is examined that owning a rental space is more economical
than having homeownership. This is
because of the reason that keeping your house takes a lot of extra chaos.
Electricity, waster, utility expenses, home renovations, etc are some of those.
You also need to pay for taxes and insurance related to your
home. No one can neglect these costs,
these are mandatory and have to be done on a regular basis. So, with your own
accommodation, you are giving birth to those financial issues that are not
indispensable.
The Digital era is reshaping the world hastily. The world is
growing rapidly, and real estate is booming day by day.
To be successful in business and make your client happier
than you must give each and every facility to your home buyer for long term
success. It serves both owners and clients by securing housing in a long term
investment. However, prices may vary considerably in different countries and
cities. It is an ever lucrative trade to move.
To buy a home in Thailand is not tougher. Real estate Thailand is the
growing business among all the businesses. 2019 is a year with significant
changes in Bangkok’s property market.
It is very important to understand what factors are
considered before buying a home. Here in this article, we are going to do an
in-depth analysis of every aspect before purchasing a home.
Figure Out Why You Need To Buy A
Home
It’s important to have the knowledge about a home before
making a purchase of it. Before buying, always check your budget and purchase
the house accordingly. There are various houses for sale in Thailand. These can
give you many options for buying a good home for you.
Since you are liable for added costs like home repairs,
utility costs, garbage pickup, water, and electricity. If you are not
financially stable, you may end up in a bad position. Consider getting out of
debt and saving up an emergency fund before you purchase your beginning home.
Explore Different Homes Before
Making A Purchase
Simply viewing listing photos can’t be a substitute for
visiting the area in-person and getting the information about the neighbourhood
and its amenities.
Before buying the home, always make a list of specifications
of your requirements and let your real agent know so that the real estate agent
searches the appropriate one for you. The agents help in finding the home near
to you and provide you with the list of abodes that meet your needs.
Check Your Budget
A proper financial budget has to be planned to realize how
much money needs to be invested and that you can meet your monthly expenses.
Keep in mind that your elementary land will seldom be your
final possession. Therefore, you need to search for your property according to
your needs and then take care of it for the long term.
It is your
responsibility to estimate that the place you are owning allows you to maintain
your regular budget and fulfil your daily needs.
As a property buyer, understanding your family’s present
major needs will guide you in making the correct decision.
Check Location
Location matters the most before buying a home. Always
choose a safe place for your family. It is good to try a place adjacent to the
prime location of your city where the price is not that high.
The location will also have a large impact on the resale
value of your home. Choose wisely because your home is your best investment.
Check the transport facility so that you can easily commute.
Good Resale Value
Resale sale Value is an important thing to consider before
you plan to invest or buy equity. House buyers never consider resale value when
they buy.
They make the mistake of focusing solely on a prime locality
or the budget of the possession. If you choose the wrong location, it is
possible that your future sales price will always be less than the other
dwelling around it.
Registration Fee
This is an important factor to be noted. It is like the tax
that is collected by the Government.
When planning your budget for property buying and deciding
to buy a land/home, you need to know the rate and charges applicable in your
city.
Recognize the market value of your property and the stamp
duty amount on it, then you need to contact the Ready Reckoner to locate your
valuation zone and sub-zone. Know whether the stamp duty amount is fitted to
you according to the business value.
Loan Safety
Most people need a loan before buying a home. The research
says that to have consent before taking a loan prior to looking for the
home. Your pre-approval can provide you
with an idea of how much you can invest.
If you want more options, then consider a written agreement
with the broker. With a mortgage broker, you have access to several loan
companies and programs. This can help you find you the best rates.
Although, the credit union or the small local bank holds the
benefits that can preserve your budget to a large extent.
Instalment Ready
Your EMI can reduce what you owe, also reducing your costs.
But be aware if you will contribute at least 20% of your home expense, you can
pay the private insurance. Our advice here is not to reduce the level up to 20%
to get home, leverage the PMI cost to secure the deal.
Wrapping Up
Above we have discussed some beneficial tips before buying a
home. These tips help you in navigating the home. By doing the little hard work
you can find the best and affordable home for you.
Feel free to ask your
queries in the comment box below.
Thank you for reading!!