Consider These Points Before You Buy a Home in Oregon, Washington, or Beyond
Buying a house may seem like a dream, but going into it uninformed can lead to difficulties in the future. LUXE Forbes Global Properties aims to make house hunting easy by providing you with a simple Dos and Don’ts guide, which will teach you everything you need to know before you buy a home in Oregon, Washington, or anywhere in the world!
DO: Manage Your Finances
Finances are a large part of the house buying process. Before you start searching for a property, set a budget, settle urgent debts, and check your credit score. All of these factors will come into play when you’re buying a house, especially if you’re looking to get a mortgage. Manage your finances before you buy a home: it’ll make the process easier in the long run.
DON’T: Take Out Any Major Loans Right Before—or After—Applying for a Mortgage
Houses are a major financial undertaking. As such, lenders won’t give you financing for a property if you don’t meet their considerations, one of which is a good credit score. If you’re looking to get pre-approved for a loan, make sure you have good credit and handle any outstanding debts.
Don’t take out any other major loans after you get approved for a mortgage. You’ll put a strain on your finances, which might prevent you from closing on a deal.
DO: Work With a Real Estate Agent
A good real estate agent offers invaluable insight when it comes to purchasing a property. Working with an agent ensures you’re choosing a good home: with their expertise, they’ll be able to point out any major flaws in property and negotiate a better deal. Buying a home without an agent leaves you open to hidden charges or bad deals.
DON’T: Buy a House Through Unofficial Channels
Although buying a house online might seem like a convenient way to secure property, don’t make any deals without going through the proper channels. Don’t sign any contracts that haven’t been legally approved. If you’re browsing properties online, be sure you’re looking through a verified website. When you buy a home, you’re in for a long process: don’t be fooled by deals that promise convenience.
DO: Ask Questions About the Property
Searching for the perfect property is the fun part of buying a house. When you’ve narrowed down your choices, inspect the property in person. Ask important questions about the property, such as:
-Why is the property being sold?
-What items are included in the sale?
-Is the area prone to flooding and natural disasters?
-How is the neighborhood?
-Is there anything about the property I should be aware of?
These questions will tell you more about the property’s condition. Any issues you find can be worked into your negotiations.
DON’T: Immediately Buy a Cheap House
A low-priced property may seem like a steal, but you might end up spending more in the future. If a house is selling for a low price, it probably has many problems that will need a lot of work (and funds) to resolve. You may save a few dollars on a cheap house, but you’ll also end up paying a lot more for repairs and renovations. The location is also something you’ll have to consider — a house may be cheap because it’s in a remote location or bad neighborhood. Look for fair prices and conditions. You don’t have to spend millions of dollars, but you also shouldn’t be spending too little.
DO: Choose a House Based On What You Need, Not What You Want
Don’t get blinded by the good decor and fancy amenities. Choose a property depending on your needs. If you’re a family, put importance on the number of bedrooms and schools in the area. If you’re a bachelor or bachelorette who needs to commute to work, choose a location close to your workplace. You don’t need to pay for multiple bedrooms and a large yard if you don’t plan on expanding your family. Make reasonable choices: you’ll feel better paying for the things you actually need.
DON’T: Buy Furniture Before Closing the Deal
When you buy a home, it needs to be your biggest financial commitment. Buying furniture and choosing decor can be fun, but until you’ve closed a deal, it’s unnecessary spending. Be smart with your finances: save the spending until after you have the title in your hands.
DO: Seek Out Professional Insight
You’ll need the help of experts in several aspects of house hunting. Consult a real estate agent to make smart, informed decisions. For finances, seek out an advisor to help you budget and manage your expenses. You might also consider looking for a real estate lawyer who can help you make sure everything is legally in order. With the help of experts, you’ll be able to avoid any problems in the future.
LUXE Forbes Global Properties Can Help You Find Your Perfect Home
Here at LUXE, we aim to give you the best possible real estate experience. If you’re looking to buy a home in Oregon, Washington, and Beyond, we’re sure to have the perfect property for you!
Whether you’re looking for a waterfront home or a luxury property in the city, LUXE can help you find the perfect place.
