08 Aug When do you say you want it?
Have you decided to buy a house in Madrid? And when do you say you want it? If you’ve already made up your mind, you’re sure to have your deadlines set and you’ll also want it to be as soon as possible. Are you being realistic? Let’s see.
The first part of the search will be to consult real estate portals, interpret ads, discard and point out those that seem interesting to begin with. From here, we make time to visit the selected ones and surely the agencies with which we make the visits will propose other visits to other properties, with supposedly similar characteristics. The first houses we visit may surprise us because of the difference with our initial idea and if in this phase we see any that we like we will want to keep seeing some to make sure we make the right decision. We keep looking. Depending on the intensity of the search it is possible that we reach the second month and continue searching, we can even reach the third.
Let us be optimistic and think that in two months we have decided on a home and we are in the phase of obtaining information, calculating the reform budget and closing the negotiation of prices and delivery times. We will then sign a lease contract in the third month as a downpayment of the purchase and sale transaction. During the negotiation we will have specified the deadline for signing the deed of sale, deadline that will be conditioned by the current situation of the property (if it is inhabited or not), if the documentation is prepared or if I already have the necessary financing. We will remain optimistic and we can calculate that in two months we’ll have signed the deed and the house is already ours.
If we have to reform we must calculate three more months supposing that before signing the deed of sale we’ll have different reform proposals and budgets. Even if the house does not need reform, it will surely need a minimum update. At least one more month.
We already have it. In the best case, in 5 months we will be able to have our new house but it is convenient to place ourselves in the other cases that can get us up to 8 months.
As a summary:
- House search: 2 – 3 months
- Signing the lease and the deed of sale: 2 – 3 months
- Reform and updating: 1- 3 months
If you still have doubts on whether to start a search or not, perhaps this will encourage you to make the decision. And if you find support in a Real Estate Personal Shopper to help you in the search, the whole process will be more comfortable, agile and satisfactory.