7 Things to Consider When Buying a House
When buying a house, it is wise not to rely solely on your gut feeling. Purchasing a home is a major expense that will determine your financial position in the coming years. It is therefore very important that you do not exceed your budget or buy a pig in a poke. In this article, Stad en Land discusses 7 things to look out for when buying a (first) home.
1. Know what you have to spend
It is important to know what you can afford to spend before you start looking for a house. Therefore, explore the possibilities with multiple mortgage providers. They will not only look at the maximum amount you can borrow, but also at what things like working one day less, expanding your family, illness and dismissal will do to your income. This will prevent financial stress if something changes in your income in the future. But also that you fall in love with a house that is outside your budget.
2. Find a good purchasing agent
In this era of overbidding on the housing market, taking a home off the market without a good buyer's agent is almost impossible. A buyer's agent knows the market like no other and helps you prepare a promising offer. This not only increases your chances of securing a home but also prevents you from overbidding too much.
3. Take a walk around the neighborhood
By exploring the neighbourhood, you will get a realistic picture of the neighbourhood in which you may live. Therefore, visit the neighbourhood at different times and days, so that you can get a feel for the atmosphere. Is it a quiet neighbourhood? Are there many young people hanging around? And how busy is the traffic? Also walk past the facilities of the neighbourhood, such as sports clubs, shops, schools and parks. And check out the state of maintenance of the houses and gardens in the street. All these impressions will help you to make a good decision when buying a (first) house.
4. Explore the possibilities of the house
When buying a house, it is important to not only look at the current state of the house, but also at the possibilities. The perfect house does not exist, you have to make it yourself. Does a house meet practically all your wishes, but does it lack the space for that dream kitchen? Perhaps an extension can provide a solution. Do you expect to have (more) children in the future than the house has bedrooms? An attic conversion with a dormer window can be the solution. No space in the house for a home office, but do have a large garden? Have a prefabricated home office installed in your backyard. Those who can see the possibilities of a house have many more options on the housing market.
5. Always view multiple houses
Even if you are certain that the house you have in mind is your dream home, it is always a good idea to view multiple houses. Only when you walk through the house can you experience what it is really like. This is often very different from the photos. It may be disappointing, but you can also be positively surprised. By viewing more houses, you will also get a better idea of what is for sale for your budget. And you are betting on multiple horses, so you will not be empty-handed when your dream house is sold to someone else. Therefore, make a basic list with a maximum of 3 requirements that your home must really meet and view multiple houses that meet these.
6. Always have a building inspection carried out
Never buy a house without first having a structural survey done. A structural engineer will perform a visual inspection that can reveal hidden defects such as foundation problems, roof leaks and wood rot. This will give you a good idea of the potential repair costs in the long run, which will prevent you from being faced with unexpected costs. It will also give you a better negotiating position when you make an offer on the house.
7. Call immediately
In these times of tight housing, affordable homes are quickly off the market. It is therefore advisable to call the selling party for a viewing as soon as you have a house in mind, and not to email or fill out the contact form. With direct contact, you know for sure that the real estate agent is aware of your interest and you can schedule a viewing as soon as possible in consultation to perhaps place the winning bid before someone else beats you to it.
Want to know more about buying a (first) home?
Would you like more information about or help with buying a house? Please feel free to contact Stad & Land. You can call us at 010 452 66 66 , email us at info@stadenland.nl , or leave a message via our contact form.
