A Short Property Buying Guide
If you plan to buy your first house, then you certainly know that preparation is key, and that you could use every piece of advice you can get. Here you will find a brief yet helpful property buying guide that will surely come in handy:
1. Know The Paperwork
Paperwork can give you a lot of headaches, this is why it is important to be prepared for it ahead of time. The legal paperwork that is associated with buying property can slightly vary, but the papers are generally the same. The contract paperwork is the most complex and important one of all, followed by the settlement which takes place several weeks after the contracts are exchanged, the land transfer and the mortgage papers, if you plan to take out a mortgage to pay for the house in bulk.
2. Do The Inspections
Inspecting the building is essential – in the end, you get what you pay for, and since the chances are that you do not invest in a new home every month, it is highly recommended to do an in-depth inspection of the house. Make sure to have a checklist with you, as this will help you inspect all the essential parts of the building, from the plumbing system to the flooring and the electric system.
Also, it is important to make sure that all the renovations have been approved by the council, and that the former owner of the house has all the necessary papers to prove so. A pest inspection is equally important, as termites can slowly destroy the house by weakening its walls and foundation, thus making it more vulnerable in natural disasters such as earthquakes.
3. Hire A Professional Real Estate Agent
An agent from a real estate agency in Wellington can certainly help you save a lot of time and trouble, as they do all the research on your behalf. All you have to do is to inform your agent about your perfect house, he will come up with a list, arrange all the viewings and even help you negotiate a fair price. Besides this, real estate agents are also very knowledgeable about the local market!
4. Always Meet The Neighbours Before The Purchase
The last thing you want after you have purchased what seemed to be your dream house is to realise that you have “neighbours from hell” nextdoor. It is entirely up to the buyer to meet the neighbours and to make sure that the surroundings of the house raises to his expectations – neither the surveyor nor the property agents in Wellington are responsible for making sure that the neighbors are friendly or that they will not turn up the music volume.
5. Calculate The Monthly Costs Of Owning The Property
Last, but not least, it is important to calculate the monthly costs of owning the house, including the homeowners insurance, taxes and bills. A home affordability calculator can come in handy in this situation: easy to use and comprehensive, this calculator can help you get an estimate of the monthly costs, just to make sure that the property fits your budget.
The Bottom Line
These are five important aspects that every future buyer should take into account before investing in any property. If you want to make sure that your money is truly well-spent and that your future house is in a safe area with a good access to the local transport network, then you can always use the services of skilled real estate agents in Wellington!