Useful Tips for Real Estate Buyers - Part 1
The purchase of an apartment or house is a rather responsible business, often associated with a lot of nuances, especially if this is your first home purchase. And it's not just about financial and legal issues. Today we will give you the first five useful tips from this section.
Don't make impulsive decisions
It often happens that buyers fall in love with an apartment at first sight. But, despite the emotional feedback, we advise you to take a break before buying and analyze all the components, consider other options, and then make an informed choice. It may be that the exciting anticipation of better living conditions, a more prestigious area, low cost, or just a separate living space does not allow us to immediately assess the obvious disadvantages and possible risks.
Soberly assess your capabilities
If you decide on a mortgage or an installment plan, then you should carefully and adequately calculate your own budget. Study the contract and other documents in detail, replay all potential situations. It is better to abandon the option in which funds for regular payments will be back to back, and consider alternatives. Consider your current and future costs, potential costs and risks.
Plan several years ahead
Taking a mortgage on a small apartment for yourself or for a family of two is not a very promising solution. Even if you do not plan to "replenish" or are a convinced "lone wolf", in a couple of years, everything can change. In this case, you will have to sell a mortgage apartment and look for another home, while real estate prices can rise significantly. Therefore, if the budget allows, it is better to take a living space with a margin.
Weigh all the pros and cons of secondary and primary real estate
If the purchase of housing has not become an urgent need, we advise you to consider apartments in buildings under construction. This is really a more profitable option. Details on this topic can be found on our website in the article "What to buy: An apartment in a new building or secondary housing?".
Choose a reliable developer
Learn the history of the developer. Important factors are how many years the company has been on the real estate market, how many buildings have been built and put into operation, whether there are long-term construction projects. Analyze your pricing policy. Quality real estate cannot be cheap. Check the information about the developer on the relevant Internet resources, study the documentation in the sales department. Read more about this on the website in the article "How to choose a reliable developer".