Buying a house or an apartment is never easy, and it comes with its own set of issues which can be overwhelming at times. Not only does it involve immense effort and time, it also demands sacrifice and discipline. However, owning a house or an apartment is the greatest sense of accomplishment one can achieve.
Read on below to know the 6 things that you should do to make your home-buying experience in 2019 smoother and easier. Let Saiban Associates help you with a seamless and enjoyable experience, and avoid all the last minute stress and panic attacks.
Assess your financial situation
The first thing to do is to make an analysis of your current financial standing. This means that you list down all your sources of income and your expenses including debts and credit cards. This is a good practice to do, as it helps you get hold of your bearings and aligns you in a way that you can manage the expenses.
Not only that, but it also helps in prioritising your payments.
No new credit cards
At this point in time, when you are preparing for the next year, it is highly advisable that you don’t end up getting another credit card. The temptation to use it is far too much and this might jeopardise your financial standing, especially when you want to enter the New Year with a slightly better financial situation.
Manage your expenses
Right before you get into the festivities of the coming year, make sure you don’t go overboard with your expenses in the holiday season. With families gathering together, there is a high probability of overspending. This problem needs to be identified and curbed, as this will create a buffer for you as you enter the New Year. A way to control these unplanned expenditures is to start implementing a budgeting technique that addresses all your major heads.
This way, there will be no surprises and everything will be under control.
Visit the market
Even before going to an agent, the best thing is to visit the market on your own. Take a drive around town, and go see the societies that might interest you. This way, you end up noticing the development status and the facilities on offer. Not only that, you end up arming yourself with knowledge that will later help you in negotiating the right price for your forever home.
Visit 2-3 localities/societies a day for at least three days. This will also give you something to compare about while also making you aware of the commuting times.
Talk to an agent
Armed with the knowledge from your market visits, it is now time to go meet an agent. Talking to an agent after visiting the market will help you better negotiate the prices and will also show the agent that you have the market knowledge. Find an agent who is knowledgeable and has the relevant expertise and can assist you in reaching your end goal of home ownership.
Prepare your documents
The last step is to put your papers in order. This means having your legal documents all drawn out and the accounts ready. Make sure you have a list of all your assets, including bank statements, auto titles, real estate, and any investment accounts and so on. This makes the loan process easier and saves time.
Being prepared is always better than running for different things at the very last minute. This way you make the most of your efforts and give yourself enough buffer time to get hold of any missing or crucial documents.
So, these were some of the steps that you should take now if you want to buy a home in 2019. Have you already started on these steps? What are some of the other steps that you would include on your list? Talk to us in the comments section below.