23 Aug Let yourself go
If you’re not sure whether to buy a house now or later maybe the time is now. There may be several reasons to buy, to rent later as an investment, to have a house in property and stop renting or due to moving to another town. We probably know the type of house we want, the neighborhood, the distribution, condition, size and services in the area. That will be our ideal model, but for the project to adjust to reality three factors have to match: size, location and price. If that isn’t the case then we’ll have to modify one of the factors, usually location. Or if I’m really intent on a particular neighborhood then I might have to give up metres or increase my budget.
If we’re going to live in the house we buy we should have at least a 30% of the budget, banks can finance up to 80% and we need 10% for purchase costs. If we buy as an investment we have to calculate the profitability knowing the rental prices in the area and taking into account housing costs. A 4% return would be deemed acceptable.
Then comes the time to search and visit. Make a good selection of properties to visit, carefully analyze the ad description, ask about whatever isn’t clear, ask for the the information or photographs you need. All that before visiting. When you visit the house don’t be influenced by the current state of the house, imagine it’s empty even if it isn’t, updated and adapted to your needs. Keep asking, observing facilities, condition, situation of the community, past reforms and all the questions you may have. But surely if this is your home you’ll have left many of these questions unasked. Usually in a matter of seconds (a few minutes at most) a person identifies the house she wants to buy. It’s a matter of sensations, you project yourself, you like it, you see it, this is your home.
If this is your case, that you feel that this is the house that you were looking for, don’t hesitate, let yourself go. There’s no need to see that many houses to find the one we need, between 10 and 15 are usually enough. It’s bound to have some problems, they all do, the important thing is being able to manage them. Most important of all is to miss the opportunity.
Let yourself go, don’t have doubts, you’ll have them if you let the moment pass.
Good luck and good search!