Finding your dream home is not easy. The process of buying a new home involves an important decision and requires buyers to be sure of their choice. For this reason, we bring you some advice for choosing your home in the form of questions that must be asked to guide us towards the optimum decision.
What type of home do I need?
If you are thinking of buying a house or a home, this is the first question you should be asking yourself. Examine your needs and wishes in order to establish requirements. These are just some of the questions you should ask yourself:
- Do I want a second-hand or new home?
- Do I need a family home, how many rooms should I have?
- Will I need a parking space?
- Do I value a good location?
- Am I willing to live with a community of owners in a flat or do I prefer the independence of a house?
You can make a list of your essential elements as it will serve you later as a method of selection among your alternatives. This idea can be carried out both individually and as a group, whether it is an individual decision or a joint one with other people. In addition, you can design this list so that you can think of more conditions to reduce the options. This process requires patience and you must ask yourself questions with precision and tranquillity, as it involves many aspects.
What is my budget?
How much money you are prepared to spend will rule out options, since, depending on the price of the home, alternative purchases will be included or eliminated. In addition to the price agreed with the seller, you should take into account associated costs of around 10 or 15% of the total value of the home.
To find the best offers, we recommend that you look for the best option through professionals. To do this, continue surfing the internet, ask for help from experts in the property market, investigate by area which homes are on offer… This will give you a different point of view and you will feel more informed and confident when making your decision.
What properties will I visit?
Once you have established your favourite alternatives, plan to visit a number of homes and see for yourself how you compare between them. To do this, you can make a comparative table of all the homes in order to rate each one according to its compliance with your most essential requirements.
How will I pay for my new home?
First of all, you should inform yourself about all the procedures you will have to do and the expenses you will have to face. Bear in mind that the complexity of the administrative procedures and the expenses to be paid will depend on the type of property you buy, as it is not the same to buy a new home as a second hand one.
Bearing this in mind, we will show you the different options available when it comes to choosing the payment method that best suits you:
- Mortgage loan: the bank lends you the money to finance your home. This amount must be paid back with interest. You should know that this type of loan covers a maximum of 80% of the total amount.
Cash payment: this form of payment means that the buyer pays the full price, thus saving the costs of the mortgage. This option is recommended for those people who have savings and can afford this expense.
- Loan between individuals: this type of loan is usually between the future buyer of the house and people you trust, to whom you undertake to return the amount lent within a certain period of time. It is a private contract between the parties or through a notary. This alternative is a good option if you want to avoid paying the interest required by the banks.
- Deferred payment: this type of payment is usually used to pay 20% of the cost of the home that is not covered by the bank, so it is a matter of reaching an agreement with the seller of the property to pay in instalments, settling the taxes on the home at the time of purchase.
- Exchange: this consists of each of the contracting parties giving up their property to receive another one. In this way, as the value of the homes does not usually coincide, one of the parties makes an added economic payment.
In short, if you intend to move house or choose your first home, you need to be well informed before making this decision, as it involves a large investment and you will also be choosing your new home. Firstly, it is essential to take into account all the essential requirements that your new home must have. Later, once these conditions have been met, you can let yourself be carried away by the sensations, feelings or other subjective factors that the home transmits to you.
Even if it is a very personal decision, it is a good idea to seek help from professionals or professionals who can help you.
Although this is a very personal decision, it is a good idea to seek help from professionals or outsiders who will give us an objective and expert view, as this will provide us with reasonable opinions and advice according to our characteristics and particularities. Having different points of view will help you find the best option more easily, so do not hesitate to ask for advice from experts or people with experience in the sector, as they will be your best ally in the search.