You are a first-time buyer, that is to say that you are considering acquiring for the first time a property as a principal residence? This is exciting, amazing, and scary. But knowing the common mistakes of first-time buyers will ensure you don’t make the same ones, and can help make the transition to New Home Owner that much smoother. Lexpressproperty will help ensure you don’t’ let any silly mistakes trip you up. Forewarned is forearmed!
Establish selection criteria
- Sort your criteria in order of priority to determine the property that best suits you. Your first list will definitely evolve during your research, but keep your priorities in mind.
Here are some ideas of criteria: price range, location, indoor or outdoor, new or old, parking, garden, terrace...
Get acquainted to the real estate market
You have found your dream property, but you are not sure about the price proposed by the seller. In this case, what you should do? Inquire locally:
- For example, a buyer who has just acquired a property in the neighborhood is the right person to approach to know more about the vendor’s reliability in terms of price.
- In case you are buying an apartment, talk to its caretaker in order to know more about the current rates and ask about the neighborhood’s reputation.
- Talk to a local real estate agent to find about the property prices in the area.
- Try to find out more about the future urban projects in your neighborhood, as they could have a positive or negative impact on the future price of your home.
Check the status and configuration of the property
New project
- Even when it is new, be sure that the property is in accordance with the information given by the seller: water, electricity, sewerage, etc. It might be appropriate to ask your own expert diagnosticians to avoid unpleasant surprises.
Older properties
- The task is more delicate compared to a new one. Pay particular attention to technical data that is not necessarily visible, such as the condition of the roof, plumbing, etc. In the event of repairs, ask a specialist to estimate any renovation or renovation work required.
- If it is a condominium property, check the condition of the common areas; read the minutes of the last general meeting as well as the co-ownership rules carefully.
- In general, whether it is a new or old property, check the layout of the house. For example, visit the property at different times to better gauge the environment (noise, state of the neighborhood, exposure to wind, sunshine, etc.), and make sure that the property corresponds to your lifestyle (number of rooms corresponding to your life projects, a kitchen adapted to your needs, the maintenance to be provided, etc.)
Think of resale as well......
You will carry out your first real estate purchase, and the preoccupation with the resale of this property may seem remote! However, buying is also thinking about this aspect. Therefore, a real estate close to shops, schools, transport, parking places, etc. remains a sure value.
Our conclusion: Be cool-headed, with an analytical state of mind, you should find the property you dream of without difficulty! Good luck in your research.
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