Buying a home is always going to be a huge financial commitment, but it’s also a lifestyle decision.
When buying a home, purchasers typically think of the geographic area, proximity to services and schools, safety, potential renovations, and for how long they will live there. Some purchasers may also think about what they want from their home, the lifestyle they want to pursue, and the style of the home itself.
But there are other more serious considerations such as whether you should even purchase a home you’ve found. Here are a few questions you need to ask.
Is Your Credit Score In The Green?
If it’s not, buying a home can be a lot more expensive than you previously thought. That’s because you’ll be charged an arm and a leg for the mortgage. It can quickly become a debt trap. If you make sure that your credit score is healthy, you can avoid this issue completely. Instead, you will be able to purchase a home with a great mortgage deal in place.
Do You Know Everything You Need To?
There are a lot of questions you should be asking the homeowner and the estate agent before you buy property. You can’t buy a house with your heart, you need to be prepared for any issues that could make a property nothing more than a money pit. Know what a real estate agent MUST tell you about a property and ask questions accordingly.
Have You Arranged All The Checks?
Last but not least, you need to make sure you are checking out the entire property. It’s important that you arrange for a survey of the house before you buy. You might be worried that by arranging a survey you could lose the property if someone else jumps right to a sale. But, if you don’t perform a survey you could buy it and THEN discover the property is worthless. You can find more about these home checks in the following infographic.
Designed By SPI Property Inspections