You are about to buy your first home and you really can’t wait. You are shocked when you see what is involved, but you still want to do well. After all, it is not a bunch of flowers that you buy. Where can you find reliable and impartial information and who can help you further without ulterior motives? In this article, we hope to get you started a bit.
Renting or buying
You have decided that you want to live on your own and you start looking for that nice home. Then comes the first blow; high prices. So, you are already faced with the first choice, Renting or Buying.
Both options have advantages and disadvantages. When you rent, you do not immediately need a huge starting capital, you are more flexible, and with maintenance, you call the landlord who will hopefully solve it for you soon. When you buy, you have a tax benefit, your net monthly amount can fall and over the years the value of the house increases if all goes well. All in all, a good investment. By the way, try renting something nice and affordable. Rents are still rising annually and you are often on a waiting list for years. Buying seems to be the best option.
Search for a home
All kinds of housing sites such as BlissImobiliare.ro offer a wide range. During your search, you will soon notice one thing, the high price. If you have found something in your price range then you will have to contact the selling broker. He or she will gladly make an appointment with you to view the property. Remember, however friendly the broker is, he or she always works in the interest of the selling party. Of course, the broker must inform you fairly about the condition of the property and the additional costs, but you yourself have a duty to investigate. You, therefore, have to check for yourself whether there is overdue maintenance, what the zoning plan of the municipality is for the neighborhood and the neighborhood and whether there could be contaminated land. You do not have to figure this out yourself, but you can outsource it to your own broker. He or she then also negotiates with the selling estate agent on your behalf and conducts research into the property and the neighborhood. However, he does this for a reason. Usually, a broker charges a brokerage fee for this. Comparison always pays in this case.
The property has been found and the price seems feasible. The selling broker submits a provisional purchase contract but you are not mistaken; there is nothing as definitive as a provisional purchase contract. There are resolutive conditions. The most important thing is that the purchase contract is dissolved if it appears that you are not getting the financing. Make sure that a large period of time is included in the purchase contract. A period of 4 weeks is usually sufficient to gain insight into the feasibility of the financing.
The purchase is complete and now the financing is still available. Then everything comes to you. If you have purchased an existing home, then this is usually under the condition, the buyer costs. This means that all additional costs are borne by the buyer and on top of the purchase price. This usually amounts to approximately 10% of the purchase price. So, when you buy a home for $200,000, then an additional $ 20,000 is added. So, you need financing of at least $ 220,000 and even more, if you are going to renovate.