First Time Buyer? Consider these 7 Things First
With no doubt, buying a house is a great expected to be the biggest purchase of life for New Zealander. New Zealander always dream of having their own house whether that is a city apartment, a simple house in the suburbs or a plot of land in the country. In the context of buying a house, you may have well-thought-out of how many bedrooms you want, is there any parking lot available, and what your neighbourhood should be like. Since buying a house is a big deal, we, Metro nz Properties Management, would like to suggest you five milestones thing to consider before you start on the journey.
“The house you look at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today – Koki Adasi”
- Be ready to settle
It is important to question yourself – Am I ready to settle down and stay in one place for a good, long time? If the answer is yes, then it is the right time for you to purchase your dream house.
- Do I have a stable income?
Apparently, it would be impossible to make a monthly mortgage payment without a regular income. Therefore, if you do not have consistent income history, it may not be your time to buy a house because you may not be able to secure a monthly mortgage amount, or you seemingly would not even be permitted for a mortgage. While you are working to build up your resume, it means you are working on build up other parts of your financial picture so that you are fully prepared to apply for a mortgage when the time is right.
- Is my credit score good enough?
You won’t be able to buy a house until you know what you can afford based on your personal finances. Make sure to keep track on your credit score and try to improve it as much as you can. Your credit score is another important part of your financial condition when it comes to buy a house. The better your score is, the easier it will be for you to get approved for a loan. Therefore, get familiar with your credit score if you think you are ready to buy a house.
- Research the local market
Before you decided to buy a house, you should keep an eye on the condition of the market in the area where you seek for buying. Monitor and pay special attention to the length of time that most houses in your price range stay on the market, and if there are any big shifts in the asking price.
- Make a list of your priorities
Once you know a house price that you can afford, you can begin your search for a home among listings in your area of choice. Even though you cannot find the exact house that you really need in your Wishlist; for example, indoor pool, etc. However, it is a good idea to keep your priorities on top of your mind to ensure you know what to look for when you buy a house.
- Find a trusted property company
With the list of priorities, in any case, it is the key to help you as well as your real estate agents to find your dream house. The agent will be facilitated, negotiated between buyers and sellers and show you properties that appropriate to your budget and meet your need.
- Make an offer and negotiate
With the assist of your real estate agent – you will determine a fair price to offer the owners of a house in which you are interested in. Remember in mind, try to avoid making a low-ball offer. Commonly, owners who receive an offer that is too low simply refuse it upfront and do not engage in any further negotiations. You should always defer to the opinion of your agent, as he or she have a great knowledge about the housing market and the rules that apply to house offers.