In the same way as other different mortgage holders, inquiring about the home that is about to be purchased, what to search for in a house and area, what sort of home loan to get, programs for first-time homebuyers, what to ask the merchants, et cetera are a must. However, regardless of what is to be learned, there are small and often missed things in the home buying process that should be carefully taken into consideration.
These are the five greatest ones, according to expert website Lifehacker.
You Don't Need To Buy A Home
Based on the early life accounts of the author, he grew up in a rented home. Growing up, he always has this thing in mind - why rent if you can have your own? But as he grew older and wiser, he finally realized that owning and renting is a necessity that is based on the living condition of the family. Either way, the pros and cons of renting and owning will be there, always. He concluded that buying a house is a financial decision while owning a home needs emotional investing, regardless if its rented or owned.
The author also recommended this website to help home lookers to decide whether to rent or buy a house.
Plan To Own A Bought House For Several Years
The author also said that you cannot own the house forever, somewhere along the way, you will give it up for personal reasons, whether financial or you're going to retire somewhere around the globe, etcetera. Owning a house is a serious undertaking. He also said that before getting a home, consider everything, if you are just going to stay in that place for a short duration, go rent instead.
Get As Many As You Can, But Not More Than What You Need
Acquiring more than one house can do wonders for its owners, aside from having it as a good investment; it can also work for supporting families that need a hand either financially or emotionally. But the only caveat for owning multiple houses would be the cost of maintenance, energy, taxes, and everything in between. He also said that it is not just the quantity of the house, but also the size of the house. It works the same way, imagine living in a house that has 5 bedrooms and 6 bathrooms and there are only two persons living on it, the cost of living is pretty much the same.
Negotiate
Learn the art of negotiation. Do not go with the first offer. Look for avenues that you can negotiate your way to lowering the initial offer. Research and study are the biggest guns anyone can have when negotiating.
Learn To Walk Away
Giving up on something that you have invested more than you can chew is something hard to do. But when it's time to say goodbye, learn to accept and learn to let go. Although it is hard but you should. The author said that before signing the paper, convince yourself not to become emotionally attached to it. Another trick, he said, is to think of it as a regular financial transaction.
