Buying a home involves a very high risk because this transaction requires significant financial costs. In order not to lose your investment, you should carefully study all the documentation for the object. However, it is no less important to check the technical condition of the house. Otherwise, soon after the move in, it turns out that your new family nest is leaking, the basement turns into a pool every time it rains, and a crack in the wall is growing at an alarming rate.
It is difficult for a layman to understand all the intricacies of the construction business, but we hope that our advice will help you avoid mistakes and make the right choice. And then your joy from buying a new home will not be overshadowed by unpleasant surprises.
What to look for when buying a house and how not to lose sight of important points — read in this article.
The new houses, founded by the construction company, still have no legal history, it means that the person will be the first owner. You can buy it at the lowest cost, but only while its in the construction process, which lasts for an indefinite period of time.
By purchasing a new house, which is still under construction, the owner does not move in immediately, but several years later. There are construction companies that require a deposit, after which they disappear, while others use cheap building materials at the price of expensive ones. In order not to fall for the tricks of scammers, it is necessary to give preference to well-known developers with a large number of real positive reviews about their work.
Feature of purchasing a home which currently belongs to someone means a lot of work with the documentation and checking procedures. Make sure that the house you want to buy is not the property of the bank as collateral, is taken out in a mortgage, rented and or have other burdening factors.
Buying a house: step-by-step instructions
Buying a new home is exciting and challenging. All processes and actions must be balanced and deliberate. It is necessary to get to know all offers in order to reduce the chance of deception and not purchase both legally and physically problematic houses.
1. Determining the area
The selection of the area and location of a new house is an individual matter. Some people, when choosing an area, are guided by the fact that there is a school, kindergarten, shopping centre and a public transport route nearby. Others are looking for a house that will help to replace the bustle of the city with silence and remoteness, while others are looking for a place where they can launch their own business.
2. Search for ads
You can find an advertisement on the Internet. Advertisements about real estates are posted by owners of houses and agencies. It is preferable to choose ads from individuals, since the agency takes a percentage for the work. As a result, the agent will receive part of the funds that you pay for the house.
You need to focus your attention on offers with an average cost. Attractive, affordable options may have a dilapidated structure, a remote site, paperwork difficulties, or a bad history.
Do not hesitate to call an ad that offers an expensive home option. If the owner sells the house, he may agree to reduce the price and you will be able to purchase it at the cost that you want.
3. What to look for when buying a house
Taking a house tour at the options you like is an essential step in buying a home. When visiting the site, you need to pay attention to all sorts of details, go around the entire building and look into every corner.
Analyse how the house is prepared for a tour, check the walls, inspect the building externally. It is necessary to inquire about all the technical factors: what is the base, roof, walls made of, make sure that all structures located on this site are included in the project and decorated in accordance with the law.
In addition, you should ask the owners about the cons of the building, the circumstances of the sale. Cons – this is the main point that you need to pay attention to when choosing a house. You don’t want to be unpleasantly surprised after the move in.
4. Documentation check
Placing an advertisement for the sale of a house means that the documentation for the real estate has already been collected from the owner and is ready to conclude a transaction. However, in reality, this is not always the case. Often, the sale of a house and the preparation of the necessary documents are carried out simultaneously. In order not to encounter problems and errors in papers, fake certificates and statements, the papers must be carefully checked.
When buying a house, it is recommended to involve specialists. Look for the most professional conveyancing lawyer who systematically work with such documents in the inspection. It is more profitable to pay for the services of an expert than to rely on the seller’s diligence.
5. Closing the transaction
Closing a deal is an important process for both the buyer and the seller. Of fundamental importance is the execution of the sales contract, familiarity with all of its sub-clauses. An expert lawyer will be helpful at this step too.
If the desirable house has passed the check on all points, then you have successfully solved the problem “how to choose a good house”. Such an estate can be safely bought: it will be comfortable to live in. Otherwise, do not rush to shake hands with the seller. A fungus in a basement or a staircase that is not properly built can not only ruin your stay but also make it unsafe.