5 Home Buying Tips to Change Your Life

5 Home Buying Tips to Change Your Life  |  Buying a home is a major financial decision, one that could set the course of your financial future for years. That makes it all the more important to find the right property and financing. Read on for five tips :-

5 Home Buying Tips to Change Your Life

   

Mind the Location   

Location is important, reminds The Malay Mail Online. Finding a property that’s at the center of everything you need, with easy access to everywhere, is a great feature to have. Some homebuyers actually choose homes that are far away because they’re more affordable. However, that kind of affordability comes at a cost too. Imagine coming home to a house that’s two to three hours away from where you work. That’s exceedingly inconvenient for you. No matter how much you think you could persevere, have the fortitude to bear the traffic and distance—all for the chance of buying a home that’s affordable—you won’t be able to hold out forever. You’ll either have to rent an apartment or change jobs. Something will eventually give. That’s the true cost of buying a home that’s far out of the city center. By choosing convenience over cost, you’ve got a much better chance of landing the property that’s right for you.   

Read the fine print - Every last bit of it   

The Free Malaysia Today reminds you of the importance of going over the contract until you understand everything in it. Skipping paragraphs because of the legal discourse can land you in a wealth of trouble, if you aren’t careful. If the seller puts in a clause or terms that are particularly unfavorable to you, it’ll be easy to catch those terms and contest them. However, if you skip through reading the contract, you can miss these clauses and end up on the losing side of the bargain. So protect your interests better. Understand and remember what the contract says so you know the minute someone’s trying to give you the short stick.   

Use property finders   

In the past, you had to rely on word of mouth and real estate agents to find you properties. There were open houses, yes, but it all took a long time to set up and all were incredibly time consuming. With modern tools like online property listings, though, you get to browse for properties that much faster. Using sites like PropertyGuru makes it easy to find a house for sale in Seremban wherever you like. No need to pay a visit to the area to scour for properties on sale. You can do your browsing straight from your desk. This also means less work for your real estate agent, so she has more time to devote to other parts of the buying process—like negotiating for a better property price.   

Don’t be an emotional house buyer   

Buying a home is as much an emotional choice as it is a financial one. After all, you want to go for a home that connects to you, that makes you feel at home or at least gives you the sense that you can start something great there, that you can start putting down roots. However, that doesn’t mean you can let your emotions cloud your mind when it’s time to buy. There are plenty of homes that fit your budget and can still make your heart sing when you walk through the door. Find those properties. Don’t go over your budget just to satisfy your need to own a big home. If you’re going to end up in debt to afford that house, then it isn’t the right one for you. Still think that house is worth it? Keep in mind that this is going to take a chunk out of your Happy Fund for years. Make sure you go with the choice that’s right for your needs and your wallet. No one wants to be in debt for years. And that’s even assuming you’ve got a steady source of income. What happens in case of an emergency? Will you have enough to cover your housing costs along with your monthly expenses? So choose a home that’s right for your financial capability. That way, you won’t risk tying a major portion of your financial resources to your mortgage. Save for a down payment. The bigger the down payment you have, the lower your mortgage fees will be. That can make a massive difference later on. Pay the highest amount possible. This way, you can save up on costs that would’ve gone to paying for your interest.   

Have an emergency fund   

No one knows what’s going to happen in the future. You might have an exceptional job now but what about in ten years? Take steps to take care of your assets. Build a financial safety net to ensure you won’t end up defaulting on your mortgage payments and losing your home in the process, whatever happens.

So be ready for a big change when you buy a home. Depending on your financial habits, it can be best change in life—or worst one—you can make.