So time has come for you to take the step of buying a house. As exciting as this moment is, it surely isn’t an easy process and there are a few elements you will need to consider before taking the final decision:
- Do your expectations meet the reality?
If you’re aiming at Kanye West’s house, chances are, you may be aiming too high. Consider your budget before daydreaming and once you have more realistic goals, think of what kind of property you would like to live in.
- Are you prepared for a mortgage?
If reading that word just made you shiver, you may have to reconsider. Mortgages are dull, long and annoying but, unless you are currently swimming in money, you will need one in order to buy a house.
- Do you want a brand new house or refurbishing an old one?
Both options have their advantages and disadvantages, although the latter one may help you save money in a long term and get you closer to the house you are dreaming on.
– Great house in a not-so-great location or not-so-great house in a great location?
The cheaper an area is, the more money you will have to invest in your house but choosing that options may come with many cons: long hours spent in transport, lower quality neighbourhood and so forth.
– Is renting out of the question?
If you are not ready to settle down and commit to a mortgage, doesn’t mean you cannot live in a wonderful property. After all, rents are much more flexible and less asphyxiating.
If you have thought all this through and you are still 100% positive of this, go ahead and start looking for the house of your dreams. There are several online real estate marketplaces like Vamido, where you can search for properties without moving from your desk.
5 Questions You Need to Ask Yourself Before Buying a House
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