If you were to have children or more children would the house be big enough? Are there any social amenities in the area? Are there any good schools, hospitals, banks, malls, etc.? It is very critical to think long-term when buying a house given that selling of the house to relocate to a more favorable location is not a simple task. Click here for more information on phuket villas for sale. Buying a house is an almost permanent decision given that you will not be relocating as soon as you would like and the cost implication it would be good to think as long term as possible to eliminate chances of regretting the purchase in future.
Have a checklist
Given that buying a home is an emotional process make sure you have a list of the compelling items must haves. Having a list prevents a scenario where you are carried away by emotions in the selection process. If a house interests, you but does not have the must haves as per the checklist, then it gives one an opportunity to reevaluate the decision.
Total all the expenses in the budgeting process
During the budgeting process consider the cost of the house, the cost of financing if mortgaging or loaning the house. Consider all the utility bills, the cost of commuting to and from your house to other destinations and cost of upgrades. Sum up the expenses and evaluate if you can still afford to purchase the home.
Review the homeowner’s association contract
If you were to move away and choose to rent the house is it applicable in the area? Whether you may or may not rent is all documented in the contract and should be a key factor for consideration.
Understand the contract before signing
A house is one of the biggest purchases one can make. Therefore, it is paramount to ensure you read through the contract and understand its particulars. You may hire a real estate broker to help you in understanding the details of the deal. This due diligence is grave before signing the contract.
Look beyond the furnishing
It is necessary to look beyond the furniture in the house one intends to purchase. It may cloud your judgment and blind one’s perception in buying the house. Instead look at the rooms that you plan to buy, space, the walls, the windows the doors, etc. In the long run, it is easy to replace furniture than fixing a cracked wall.…