Green Door believe buying a home becomes a priority for all adults at some stage in life when such a big investment seems within affordable reach. Couples, single men and women, and families, all wish to have a domain that is completely their own, even though this may not happen for years, while resources are being collected and the need for a permanent abode becomes critical. Buying a home is both complex and confusing, requiring information, expert advice and a list of preferences regarding what kind of home you would like to buy.
How to start the home buying process
- Decide on the location- Once the need to buy a home has been felt and a decision made, the first question that comes to mind is where to buy the property-in the heart of the city, or the quieter outskirts, near the place of work or school, and other similar locational considerations. Only when the location is decided that the process of finding the best place and the best deal begins.
- The kind of home to buy- Depending on the location, you will be able to decide what type of home to buy-landed property like a stand-alone townhouse, a row house or an apartment in a condominium. The size would be determined by the family requirements and affordability.
- Finding homes available for sale – While a number of properties get listed in the classified columns of newspapers and magazines, the best ones may just be placed with real estate agents or carry a ‘for sale’ sign outside put up to private sell homes. It makes sense to drive through the area that has been zeroed in on, and look for such signs. Often, some distress sales or panic sellers surface and a good deal becomes possible.
- Price factors and anticipated returns- Out of a list of homes available for sale, the ones that can be shortlisted are those which fall within your budget and affordable price range. Additionally, the long term appreciation of the property as an asset has to be looked into, to ensure that it proves to be a worthwhile investment.
- Seeking expert advice- Property buying requires expertise, experience and knowledge which can be sought from property investment veterans who have dabbled in buying and selling multiple times, or from agents and consultants who charge a fee for their advice.
- Using real estate agents- Using an agent is a complete solution to buying a home since agents have the knowledge and expertise, and for the commission they charge as fees, they help you identify properties that suit your needs, facilitate the buying process and complete all the formalities to finalize a real estate private sale.
Buying a home is a big exercise that needs to be done right the first time, since such big investment decisions cannot be easily or quickly undone.