Pitfalls You Must Avoid Before Buying A New House

So, you are all set to purchase a new house? You have probably saved through years of working and have cut some of the most irresistible expenditures in order to create a haven of tranquility and comfort for you and your family. But are you aware of the very common mistakes which many of the new home buyers commit, only to repent and regret later on? Well, you are about to spend your hard earned money on buying a house, so you better as well spend smart by being aware of all the do’s and don’ts of buying a new house.

Define Your Budget:
Have you sat down and decided upon your budget with which you would purchase your dream house? Now, it is time to be very real and figure out in which area of the city you wish to buy the house. Also, how much would the total money figure come down to? Ask yourself whether you would be able to manage the expenses of every month along with the payments of the house or not. And please do not make the mistake of using all your savings in the down payments. Save for the rainy day and apply for a home loan.
Pitfalls You Must Avoid Before Buying A New House            
Image Credit: Dougtone
Have A Vision For Payments:
There is absolutely no wisdom in making the down payment as minimal as possible, thinking that the installments would take care of themselves as all the monthly bills do. This kind of approach toward finances is often easier said than done. When the time actually arrives when you have to pay those hefty sums of money every month or may be quarterly, it is then when you realize that may be you should have made a heavier down payment. The trick is to pay off as much money as possible in bulk to avoid feeling burdened in the later months.

Be Aware of the Legal Requisites:
If you are buying a condo, then check whether the building apartment is legally valid on papers. If you are buying an independent house, the land must be registered in the name of the owner and should not be stuck in any kind of legal ruts. This would ensure that you are buying a safe piece of property and are not going to pay money for something illegal; else it would be really disastrous to see those illegal properties being demolished by the government. Consult your real estate attorney and make sure that you are not violating any rules of the real estate law.

Find Out About Added Costs:
Buying a house does not exempt you from the other additional responsibilities which come along with the new piece of property you have bought. Find out about the maintenance fee which you would have to pay every month, the property tax and any additional tax which all the members of the area are paying. Keeping a realistic check on the expenses which you would have to incur on account of several hidden costs, is essential for you to be aware of before making your final purchase.

Check Details of the Builder:
The durability and longevity of houses or apartments largely depends upon its builders. You can get the best looking house, located in one of the most plush and upmarket areas, but if the foundation and construction of the house  is not proper, then all those alluring factors would add up to almost nothing. Do not make the  mistake of buying a house which has been built by a building company which does not hold an esteemed and credible position in the market, else you would only be setting yourself up for a major disappointment in the long run.

SEE ALSO: Four Easy Ways to Give Your House a Makeover

Do Not Spend Unnecessarily On New Things:
You have purchased your dream house and have already started planning your life in it, while resting among your clouds of imagination. So gar great. However, it is now time for decorating the house with accessories and furniture. But do not hold the misconception that since you have got a new house to live in, its furniture and interiors should also be brand new.

This way, you stand at the risk of spending a lot of your money on useless things which you might regret later on. See what all things are still in the working condition and are worth using from your old house and use them after moving in.

Inspect The House Properly:
Never make the mistake of relying whole solely on the real estate agent who has fixed up the deal for your house and has got done everything else required. Check the drainage system, plumbing areas, taps, showers, water management and flow, leaks in the bathroom, proper ventilation in the house, especially in the kitchen area and other essential details in the house before paying that fat sum of money.

You would have to be really a nitpicker before signing that dotted line, because there might be many imperfections in the house which could be apparently invisible, but would cause trouble gradually once you start living in the house.
Robert Bryant
About the Author:

Robert Bryant is a blogger and passionate writer. He likes to write about Health Issues, Online Marketing, Legal Issues, and SEO etc. You can add him on Google+.

No comments