Every home search begins with a wish list. There are few things in your mind a house must haves, from location to decor and you’ll know whether a house is worth your time or no.
Still,there’s a strange thing that happens when you are on a house hunt. This wish list seems to grow more as you look around for more and more houses. But eventualy you realize that there are certain things you’ll have to compromise on and that you can’t have everything.
But, I have come up with top 5 things a home buyer should never compromise on:
1. Major building issues
If your property has any of these significant issues, purchase of such houses should be avoided:
3. Presence of asbestos etc
The biggest mistake most people do is that they negotiate property price just to compensate these issues. But, getting fixed any major building issue can be overwhelming. So, it’s better to just walk away.
2.Legality of the purchase
Entering into an illegal or disputed agreement is a big no no. When you purchase a property, apartment, plotted development etc. ensure that all you read and understand every technical term and ask for any clarification you require. If you are not mindful about these things, you can get into big trouble. Purchasing a house is a lifetime dream for al most everyone, don’t ruin it by doing such mistakes.
While purchasing a house most builders boost offering 24×7 security services, their claims are so high that people easily fall for it. But the reality might be different. So, when the develop tells you about security services make sure that he is serious and has put in measures to ensure the same. Whether it’s the front entrance, playground etc everything place should be safe. Incase if you are working couple and your children stays at home, security must be your prime criteria. Even others should never compromise on safety.
Getting pre-approved for a mortgage is an absolute must before purchasing home. Before you begin your house hunt, you are probably determined how much you’re willing to pay and you shouldn’t budge on that amount. I have seen people digging heels and purchasing a house beyond their limit and then restrict their leisure spending and it also restricts your savings.
Yes, a lender will give you a pre-approval and tell you how much house you can afford. But this is just one piece of the puzzle, and the costs of homeownership can
still land you in a mountain of debt if you’re not careful.
You can change almost anything about the house but location is something that you can never change. It also plays a significant role in the future value of your house.
The location should be such that it is easy to commute. Regardless of the distance from home to work, other factors come into play when it comes to commuting to and from work, including proximity to freeways and public transit.
There are other factors like area’s school district, amenities like groceries shops etc. So ensure that you don’t compromise on such points.
Finding an ideal house can be tiring when you have limited budget. Therefore, make a list of “must have” and “negotiable” things so that you can purchase your dream house or at least close to your dream house