Moving into a new house can be both exciting and challenging at once.
From choosing the right time of the year to move to buy your new house and/or selling your current house there are a lot of things you’ll need to make the move successful.
These things will depend on individual circumstances. Whether you’re planning to buy a house, sell your house, or tackle both at the same time to make your move, this guide will help you get started on the right path.
Buying a house in 2020: Tips & Guide
Five things that are important if you want to make the most of your home buying process in 2020. These are outlined below;
Define your budget
You need to know how much you can afford so you can choose the best house within your budget limits. This is because buying a house is a huge financial decision.
You’ll need to pay a security deposit at some point which will depend on the cost of the property you want to buy. Before you jump right into the market, you have to be clear about how much you can afford.
- Get your finances in order
- Pay off lingering debts especially if you would be getting a mortgage
- Get pre-approved so you can be sure you’ll get the money you need when you finally find the house of your dream.
Note that sometimes the amount the bank is willing to finance is not necessarily related to the amount they will disburse as this will be based on the valuation of the property so make sure you are clear on this topic
Houses are sold and bought every time of the year. Some markets, however, do experience up and down moments at some point. This could be down to seasonal challenges or some other factors live community oversupply. Is this the best time of the year to buy a house in your local market? If you log in to hod.co and visit https://hod.co/neighbourhood/
you can see the last transactional prices in your preferred community
Get your priorities right
You probably already have a picture of your ideal home in your head. There will be some certain features you’d like to see in the house you want to buy. These can range from your choice neighbourhood to the number of rooms, or its location.
It makes sense to know what you want to make your home shopping a lot easier. You’ll hardly find a house that ticks all of your boxes but at least, this will help you get your priorities right.
Shopping for your dream home
You may have to look at a few houses before you finally find the one that piques your interest. This is always easier when you know the type of house you want as well as your budget limits. Once you find that ideal house of yours, you can then send in your offer, negotiate the price, reach a conclusion with the seller, and take it up to closing. To help you save money visit hod.co and find properties with no commission
Don’t forget the deposit
The security deposit is often about 10% of the property’s cost price. You’ll be expected to pay this in cheque or even a manager cheque at some point during the home buying process. The rest will be paid later on, in cash or via a mortgage. Don’t forget this. If you have worries about the transaction ask any question in hod.co expert panel https://hod.co/questionanswer/