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five things to know before buying property

Buying a house or investing in property demands correctly timed decisions. It is not easy to be fully prepared for all the consequences you face while buying a house. Certain pros and cons must be borne in mind while taking this crucial step.

Here are the five tips which you can follow before thinking of making a major investment, cutting expenses and following your dream of buying a dream house for yourself.

1. Survey and survey

Keep surveying and looking for the best. Dealing hastily might cost problems. Letting agents Surrey advice while surveying that take your time while looking for what exactly you want. Do not decide too early. Do not forget to monitor the sale and purchase history of the house; was that too slow in the market, prices varied considerably either low or high priced, how long the previous purchasers stayed in the house, what was the reason for abandoning the house.

2. Affordability and Buying process
Have a look on your expenses be it daily, weekly, monthly or yearly. Manage your budget. Aiming high and not being able to fulfil it may lead you in severe crises. There are various methods whilst you can assess your financial conditions. Various available online calculators can help you cope with the issue. There are certain financial assistance guidelines which can guide you the pathway. Department of Housing and Urban Development (HUD) is a good resource which offers videos and articles.

3. Home conditions
Before making the final decision of buying a house, must look at the deal breakers such as house in areas of high flood risk, cracks in the ceilings, water marks in the walls, availability of proper electric and sewerage system. You may also inquire about the same by people living in nearby like if you are looking for a property to buy in Virginia Water you may ask regarding the conditions of the house which may later pose difficulties.

4. Savings
Start saving as much as possible. Do not indulge yourself in making other major investments, focusing only on the need of the hour. Saving however does not mean reducing other important payments. Keep paying rest of the bills timely. If the ownership of the new house costs monthly of more than you are already paying as a rent, try finding another place where you can safely handle the two.

5. Buying fixer-upper
Sometimes the dealers help you in buying houses at cheaper rates, but they require renovations and fixations. But one should keep in mind the upper expenses which have to be made in making the house livable and to bear in mind that it does not cost more amount than a fully furnished house could have been obtained otherwise.

Having said all, buying a house is not as easy procedure as it seems. One should be very careful while making a major investment whilst keeping hands off the luxuries to obtain a luxury. Summarizing; to take all your time, look at your budget and other expenses, keep an eye on imposter, not leaving the payment process in between, better savings and careful while buying such property that needs time to time fixation.
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