Home buying tips
Buying a suitable home according to one’s requirements and budget is the real task. Let’s discuss the home buying tips.
For buying a suitable home, you should first consider your requirements. Some people need flats, whereas others like independent homes. It’s also important to decide about the size of home or number of bedrooms, as size of home has great impact on the price. Large houses or flats are expensive, whereas small or medium size houses are affordable. You should also decide about your preferred location to buy a home.
Budget assessment is very important while buying a home. Some people can buy home on cash whereas other can buys on installments or mortgage. In Pakistan many developers offer state of the art housing schemes, where houses are available on installments. In case of installments, you should not spend more than 35% of your monthly income on installments, as it will disturb your other expenditures.
Once you know your requirements and budget, you can start searching for a suitable home. You can search home via property portals and also can visit the local real estate agencies. Real estate agents will help you find the homes that match your budget and requirements. If you have found your preferred home online, you can contact the real estate agent or owner to get all information about the home.
Visit the home
After you have selected the homes online or estate agent has found some properties for you, your next move is to personally visit the homes. This will give you a good idea about the homes condition, location, orientation and living environment. During physical visit you can also meet with the home owner.
After you have seen & selected home, now you can negotiate price. There is always about 10-15% price negotiation margin. Your offer should be realistic to mature the deal. Unrealistic offers are normally turned down and you have to find some other property. You can get information about property prices in that area from the dealer, as it will be useful for negotiating the price.
After you and seller have agreed the home price, now you can move towards documentation work. This includes the mode of payment and transfer of the home. For this you should hire good property lawyer. Lawyer will help you in checking the property documents. Lawyer is also needed to transfer home on your name.