What to do in preparing to buy a home?

Here is what you do. Work and save for one, you want to be able to make a down payment. Consider the expenses of home ownership. There are many of them including insurance, utilities, maintenance, and taxes. Understand the market. Find a neighborhood suitable for you and your family and then take the time to find your home. Hopefully, once you have decided where your home will be and when to purchase it, you will have found a good realtor. After you have been shown homes you are interested in choose the one you like the most. Once you are aware of its total condition and the terms of a suitable mortgage, you should be ready to buy.

There are several little things I would like to discuss, but right now it is 11.40 PM in my country, which by my standards is late in the night. And I am feeling drowsy. :) So I might miss out on some things which you would have to forgive me about. I will continue with my response tomorrow. Here is the initial list. 1. Think you will have more than one house in your lifetime. First one is functional, second one is for living. 2. Ideally, your functional house can be small but affordable unit. Remember there will be many things that will be missing in this home. You might think you wont like it, but you will. This is because the functional home saves you rent and is usually a small flat located in the heart of the city, closer to your work place, and well connected to all the facilities. 3. Good news is, your functional home need not be brand new. You can buy second hand apartment that meets your immediate family requirement. 4. Take a loan. I know you are being advised against it. But do take a loan, especially if you are able to get it cheaper than the usual market rate of any borrowings. Agreed that installments will vary, and might cause some tensions. But since the functional house is small, the amount of loan you would need would not be much. If you find it tough to manage even that much, you might consider shopping around for longer period loan so that installment comes down and is more manageable. 5. Have a thumb rule about installments. The installments should not encroach upon your day to day living plus other commitments. Dont be over optimistic and think you can stretch yourself that small amount. Think yes, I shall still have some small amounts remaining with me after installments to manage other emergencies such as medical emergencies and opt for slightly lower amount of loan. Ideally, your loan installment should be equal to your rental charges, may be a few hundred higher. 6. One of the contingencies during home loan is the medical expenditure. This can be covered with medical insurance of appropriate amount. Ensure that entire family is covered adequately so that you are not caught on the wrong foot. 7. Review tax implications of home. If you had to sell your house at a later date, it would mean capital gains tax. Such tax laws differ from country to country. So you might want to consult a tax advisor. In my country a person who has 2 homes cannot roll over the capital gains. Please remember, if fortune favors you, you might have more than two homes. 8. If you are buying second hand apartment, then ensure that some loan has been taken on the property from any banks. That way you are certain that the property is free from past litigation. 9. There are encumberance certificates. Banks and other lenders with whom the house was mortgaged register their rights with appropriate authorities to warn general public of their claims. These need to be verified so that any existing debts are not passed on to you. 10. If you are willing to commute long distances everyday you might want to consider a small independent house in the city's outskirts. You may need to take a loan for this bungalow. Remember there are advantages of owning a bungalow. You can always build one more floor above and rent it out or accommodate larger family. Rest tomorrow..good night

Make sure your credit is good and ready for the future buying. It is said the real estate shows I watch that its a good idea to get pre-approved because it takes time and then you can see what amount you can get approved for and what price range you are looking at. Might surprise you.

Find a realtor you trust. Set a limit on how much you want to spend and stick to it. Realize there is compromise involved...there are no perfect homes. Have a wish list, but be willing to give and take. The most important thing is location. You can change things inside a home, but you can't move it.

First of all, decide the budget for the house you have in mind. Do you have enough to pay the property in full or would you want to have a loan? If you will need to loan, how long do you intend to pay for it- 5 years, 10 years, 15 years? Will the monthly amortization be reasonable enough for you to handle every month?

First of all you have to know how much budget you have and how much the lot and house costs. I advice to not loan for a money and use your savings if you can as some put up some interest which may be a burden for you later. Save plenty of cash and some spare cash you can use for the bills that you might also need to pay for. Do not spend all your money on just a house. Save more than enough first before building a home for your family. Goodluck vincent!

You should always make sure that you make an offer a little less than you're willing to pay, because then it gives you the chance to haggle on the price a little bit. You should also make sure that you have at least a couple of thousand pounds set aside for all of the legal costs, like the solicitors bills and things like that, as these can often take you by surprise and mean that you can no longer afford to complete the deal that you had taken so long to get to in the first place. Make sure you get an independent individual to say what price they think the property is worth as well, so that you know you're not paying too much money.

it all depends on ,first the amount which are you going to spend and you must have a good rapport with the builder and must be able to share things with quite ease for sure.so its all about trust and confidence too

For me if I have to buy a home the things i will consider is like the it will depend, if I am looking for a flat or a bungalow. I would prefer bungalow and i would need the proper papers of the property. I would talk to the owners directly if possible. I Would see my budget and if I have to take a loan and how i am going to manage it. I would also look at another factor which is the location. Because it is going to be for a lifetime , then better be at a good location where i will feel free and away from any crimes like theft and all. A good neighborhood. yeah i guess that it. May be you wanna ask something then you are welcome anytime. Thanks for sharing and have a wonderful day ahead.

Hey buddy, there are a lot of stuff to be concerned before you buying a house.. After buying a house you can make it your home with some simple steps.. I'm not a pro.. but I know some about Engineering stuff... but everything depends on your requirements and what you can afford.. Tell me those and I'll surely help you my friend !

Know first if your developer is real. And they have a license to sell. You can check at HLURB, even thru phone. In terms of financial matters, just make a budget, finance will come when you start paying. It's easier to save when you know where are you going to spend it.