Buying a House – the five things you should not compromise on

A desire list is the foundation of any successful property search. With your list of must-haves in hand, you'll be able to narrow down your search and spot a potential property that isn't worth your time. Purchasing a home is a big financial investment, and one that should be approached with caution. But, let's face it, if you're on a budget, the chances of checking off every single item on your list are very slim, especially if the items on your list are more on the "want" side than the "need" side. It's not simple to discover the ideal property, and you'll almost certainly have to make some compromises while narrowing down your options. However, there are several things you should never sacrifice when purchasing a property, including the following.

1#Location

Location is the most important thing from the five things you should not compromise on. You can alter or modify many aspects of a home even after purchasing the property, but you cannot alter or change its location. When it comes to purchasing a home, the location is the most important consideration and part of purchasing the property. It not only affects your piece of your property, but it also has an impact on the long-term worth of your investment.

If you are a first time home buyer then you must have to examine how close a home is to a place of employment and other travelling conviences like Cabs/Taxi/Metro. The simplicity and convenience of your morning and evening commute will be strongly influenced by the location of your residence in relation to your workplace. The ease of commuting is an important factor to consider when purchasing a home.

2#Number of Bedrooms

The second thing that you should keep in mind from the five things you should not compromise on is number of bedrooms in your house. The amount of bedrooms you'll need in your new home will be specific by the size of your family. Although, you are s spending a big amount on your property and you have all the right to choose a home with your own convenience.

Nowadays, It's ideal for everyone to have their own room and it's not uncommon for siblings to share rooms, at least for a few years. However, if your family definitely demands a certain number of bedrooms, this is one feature that you should not overlook when looking for a new home. Even one fewer bedroom can make life awkward and uncomfortable. If you don't have children yet but want to do so in the near future, you'll need to keep this in mind when looking for a new home.

Read: What’s a Buyers Agent ? How to find best buyers Agents in Melbourne?

3#Check for Approvals and Licenses

The third and most important thing from the five things you should not compromise on while investing in a property is checking for approvals and licenses of licenses.  Once you've decided on a builder, you'll need to do your homework and look into all of the approvals that pertain to your project. You should investigate the following items among them:

  • Remember to get the original property deed thoroughly investigated and validated by a lawyer (title, ownership details, etc.).
  • Confirm that the property in question is not involved in any legal proceedings and is free of all encumbrances.
  • If the property is under construction, be sure you have all of the necessary statutory approvals prior.
  • Ensure that the selling agreement contains all of the agreed-upon terms and conditions, which are clearly stated.
  • Also, make sure you get a proper receipt for every payment you make.

4#Budget

Budget is the one of your pocket related thing from the five things you should not compromise on. It is most likely you have to decide that how much you're willing to pay for a home, and you shouldn't change your mind. However, you should be adamant about the extra charges above and beyond the sticker price. That involves creating and keeping to a budget for your monthly payments, HOA dues, energy costs, and real estate taxes. (You should do this before you start looking at houses and, even more importantly, before you start making offers.) A lender will pre-approve you for a loan and inform you how much house you can afford.

5#Parking

All the above things are very important while buying property but if there is no parking space then you’ll have to face lot of parking related issues regularly. Parking is very important aspect when you’re searching for a home. If you own a car (or two), you'll want to make sure you have a guaranteed parking spot which don’t have any restrictions while parking, whether it's in an enclosed garage, a driveway, or designated parking (parking should be there always. Stick to your guns about the things that are most essential to you while making your choice, and ignore the rest of the noise, to avoid frustration after you've made a transaction.

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