Some Important Tips For First Time Home Buyers

By: navjeet kaur

Purchasing real estate is one of the best ways by which an individual can invest his capital for good returns. However, this is not an easy task, especially for first time investors, who have never taken part in something like this before. If you take a hasty decision, then you might come to regret it later, as a house is a long term purchase which will be with you for a long time. Therefore, it is a good idea to take advice from someone who knows how the real estate market functions. This will help your experience be much simpler.

One thing you must remember is that your lifestyle is not the same as everyone else. This makes it necessary for your lifestyle to be taken into consideration, when looking for a house to buy. Family size, locations, profession, personal choice and children are some of the factors that come together to help you decide where your house should be located. You need to do an introspection of you and your family's needs, before looking for a home for yourself.

Once you come up with a general idea of the location, where you want to shift and the type of home that would best suit your needs, then you can start figuring out the amount of money that you have to spend on a purchase. Talk to a representative of your bank and discuss with him the amount for mortgage that you can get. This will help you get an idea of your budget and then you can accordingly start choosing homes that are within your financial means. Getting an approval from the bank will provide you with a good bargaining chip that can be waved in front of the sellers. This will improve your chances for closing a sale, as soon as possible. Once people are sure that you have access to a large amount of money, they will definitely be more interested in selling their property to you.

Once you begin short listing homes, get in touch with a real estate lawyer. A real estate lawyer can go over all the documents of the property and will check for any discrepancies or signs of illegal activity. This should be done before the signing of any contract, as it will keep you safe from any misdoings of the previous owner. Ensure that your lawyer is an experienced hand and has handled such cases before.

Bring in a professional surveyor, who can carry out a proper inspection of the property to look for any damage and faulty construction. Many times, people are looking to sell their house because of some problems in the construction. A surveyor can carry out a complete inspection, from the roof to the foundation, so that no faults are able to creep in. This will enable you to buy a house that is safe for you and your family.

Finally, do not be hasty in any of your decisions. Do not buy the first house that takes your fancy. Go through as many properties as you can, before you finally decide on the one most suitable for you. This is a process that will take some time and effort, but once you are able to do this, you will be the proud owner of a wonderful piece of property.

Harji Realtors is one of the leading real estate agents in the region of Chandigarh, Mohali and Kharar.

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