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Finding a new home is always an adventure. In most cases, before choosing the new personal or family residence, several properties are visited until one is chosen, and even so there are doubts as to whether it has been chosen correctly or not. Especially if the house is going to be acquired. And to find the "ideal" house of each person there is no mathematical formula, what exists are some guidelines so that finding it is a little closer, or at least, to try to make as little mistakes as possible. Therefore, let's see what needs to be taken into account when buying a house.

 

Budget, requirements and location

The first thing is to know how much budget we have got. In the case of home purchase, we will have to analyse several things: what initial capital we have to give a hypothetical entry (since some mortgages are not granted for 100% of the amount of the house), how much we can allocate to the payment of the loan (percentage of the salary) and, within the possibilities of each one, how much you want to spend.

 

The next step is to make a list of the requirements that we want the house to have. Here, the more explicit we are, the more possibilities we will have to find what we are really looking for. And we can even make a list of essential aspects and another of what we could consider extras. In this section we will include aspects such as the number of bedrooms or bathrooms we need, whether we want it to be renovated or not, that it has a terrace, storage room or swimming pool, among others. But it is also positive to include aspects that, although a priori they may not appear in the housing ad, it is advisable to check and ask for them when visiting a house, such as, for example, the condition of the pipes, energy efficiency, the cost of the community, if there is any spills, etc.

After having our list of specifications, something essential to take into account when buying a house is to define the location of the house. That is, limit the area or areas in which we would like to live to reduce the search space and therefore the homes to be selected.

 

Search routes

With all this, the most difficult part begins, and it is to get down to work. That is, to look for; and for this we must consider all the possibilities that we have at our disposal. Basically, at present, we have two main paths. On the one hand, go to a real estate agency and present our case to them so that they can show us a selection of homes that, based on the requirements, could fit us. Opting for this route can incur additional costs, since real estate fees have to be paid, but it can also provide us with some procedures, such as paperwork, and they usually know the market in depth1.

 

Another possibility, which does not exclude the previous one, is to search directly on the internet in the housing portals. In this sense, we can create a search alert with the chosen criteria and be aware of the new ads that are published. Of course, here we will be in charge of contacting the seller (private or agency) if we want to visit the property and, if progress is made in the process, to continue with the procedures. In this case, each of us will also be responsible for informing us about the market and finding out, for example, if the house we like is in the price range that is being ordered in the area.

Home search is one of the most important steps to take into account when buying a house.

 

Harmonize and write down your impressions

Once the homes we like have been pre-selected and the visits have been arranged, the "marathon" of seeing properties begins. Something that can help us make the final decision is to write down our impressions as we see the houses, since after seeing several we can begin to confuse each other. In addition, if we make these annotations following a scheme of pros and cons and completing a check list of our requirements, this will homogenize our classification and may make it easier for us to make a hypothetical final decision.

 

Thus, for example, we can discard at a glance the homes that meet the least requirements and stay with those that really interest us and move to a next phase, which can include, for example, another visit to look more deeply at specific aspects, such as the finishes (which on a first visit can go unnoticed), the common areas of the building, the garage space, the surroundings and, of course, this phase may also involve starting the negotiation of the price of some homes, since in some cases the owners are willing to lower the price. This may be one of the last filters, since if we do not manage to adjust the amount to our budget or to what we consider to be its value, it will have to be rejected.

 

If, on the other hand, we achieve it, we will have to reduce the list (if it has not been done previously) and the final phase begins when we have kept a single home on our list and we make a firm offer for the house, but by then we need to be sure that we have chosen the property we want and then we kick off the process of searching for financing, legal activities and etc. begins.

 

We hope that thanks to this article you already know what to take into account when buying a house and you can put it into practice in your next purchase.


 

I'm Spanish Adviser and you can ask me any question related to Spain. Our people speak 🇬🇧 🇺🇸 🇪🇸 🇩🇪 🇫🇷 🇺🇦 🇷🇺.

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