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| Ready To Buy Your New Home? |
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You are thinking about buying a new home - it's not the high rent you pay, or the distance to your job, you just feel you want to have a bigger home, and your own. However, you need to make sure that the time is right. Here are some useful tips, that will help you understand if you are ready to take the step:
1. You are well acquainted with the real estate market
If you have taken the time to see what type of properties and at what prices are put up for sale in the city or the residential area of interest, then you have a somehwat realistic idea about how much you are going to pay for a new home. Do not take roumors or personal opinions for granted, make your own investigation, hear out as many brokers as you can, so that you may sort out the different opinions and see what works for you. If a family member or a friend have recently purchused a new home, you might take into account what the have to say and may be turn to the same broker they had worked successfully with. At least that will save you time looking for the right agent.
2. You have enough money for the intial instalment as well as a clear idea for the rest of the money needed to close the deal.
The initial instalment is a per cent from the price of a given property, and even though you may have enough finacial means to initiate your deal, you must not forget all other expences and taxes involved in the purchase process - property transfer taxes, document preparation fees, legal services, agent's commission etc. It would be best to turn to a real estate agency that offers a full range of services at reasonable prices on top of or as part of their commission. This will save you time and money.
3. You know just how much money you can pay each month.
Carefully estimate your finances, and abilities to cover your bank credit in case you are planning to use one. Have in mind that if your mortage instalments are more than 30-40% of your wages on a monthly basis, you will be facing serious problems in the future. Talk to your financial advisor or take advantage of the financial advice offered by your real estate agent.
4. You are aware that buying a new home means additional expences as well.
Closing the deal is not all there's to it. Your new home may need comstetic repairs or serious refurbishment. Even if you bought that home because the furniture was brand-new and up-to-date, by all means there will be something you will want to change, and that comes at a price.
5. You have good credit history.
You can rest assured, especially considering today's market, that your potential creditor will make a thourough examination of your credit history. Make sure you have no past and uncovered liabilities, as that may seriously change your plans. |
| Monday, Nov 16, 2009 |
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| » RENTALS |
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| Apartment |
€ 500 |
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| Location: |
Veliko Tarnovo |
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