Whether you are buying a used house for the first time or you’ve gone through the drill before, you’d always get nervous jitters. It is a roller coaster ride which involves emotions like excitement, uncertainty and what not! But the trick is to not let these emotions take over you and know how to make a smart decision.
Regardless of how much you have on your plate, it is always smart to not make any hasty decisions. However, since it is a bit difficult to keep calm, we have listed down some common mistakes that you can avoid while making the purchase.
Having said that, let’s take you on this journey:
Know What You Can Afford
One of the biggest mistakes that people make while buying an old house is not knowing what they can afford and what they cannot.
When you are looking for a place and once you fall in love with it, you start imagining how great life would be once you start living there. But if later on, you find out that you won’t be able to afford it, it’ll make you feel bad.
So, to prevent all of it, make sure you look for places that fall in your budget.
Location
You have probably heard it before, but we will say it again – the most important thing when looking for a house is the location. Location is one of those things that you cannot change or play around with after you buy the house.
Whenever you are finalizing a location, make sure you consider things like nearby shopping centers, commute to work, nearby schools, hospitals, neighborhood, the level of security the area has to offer, etc.
First time buyers usually get tricked into buying houses that have overhead power lines because they come with a lower price tag. Try to be cautious of these things before you make any final decision.
Size of the House
When you are choosing a house for yourself, make sure you are satisfied with the area and house design. Remember that your needs may change in the future so take all of those factors into consideration before locking anything.
Make sure the house has enough rooms according to your needs and that it can also be expanded, if need be.
Conduct a Home Inspection
Conducting a home inspection is an important part of buying a used house. It is a process in which you physically inspect the property that you are considering to purchase.
During this inspection process, make sure you check all the amenities inside and around the home. This includes things like bathroom finishes, backyard features, lighting fixtures, etc.
These are some common amenities that should be included in every house; however, the other ones can vary depending on your preferences.
Cost of Living
The kind of property you choose for yourself also makes a big impact on how much taxes you will have to pay and how other living expenses will look like. For example, the utility bills that you will pay vary with the area that you live in.
Choose a Reliable Agent
Although this is one of the last things that we are discussing, it is perhaps one of the most important ones. Make sure you choose a reliable and responsible person so that the documentation process is completed smoothly.
These are some things that we think would help you spend your hard-earned money in a smart way. There are various old and new houses for sale on OLX Pakistan as well, so you can have a look at our website.
That is about it! If you have any other questions or suggestions, drop them down in the comments section below.
Leave a Reply