Accommodation — September 3, 2018 at 11:40 am

Important Things to Know before You Seal the Deal on Your First Home

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Buying a first home is both an exciting and overwhelming process. House hunting under strict budget terms can be worrisome by itself. But later in the process you’ll find that researching neighbourhoods is the easy part of buying a home. Finalising the deal can be much tougher. Also, you should never rush to sign a sales contract no matter how promising the deal looks. Here are several tips to keep in mind when you are in the final stages of purchasing a home:

Hire a Lawyer to Research the Title

One of the most basic aspects of buying a house is checking if the title deed of the property belongs to the person who’s doing the actual selling. It may not occur to you that someone might commit fraud in this regard, but it’s better to be safe than sorry. Hire a lawyer to inspect the title deed and the sales contract thoroughly before you agree to sign it.

Inspecting the House is a Must

Home inspections are not an optional thing you can do if you have the money. It’s very important to inspect a home in advance for all kinds of problems spanning from pests to mould to meth lab contamination. A pest infection, for example, could cost you thousands of dollars to clean up later. Infested or contaminated homes post a direct threat to your health and wellbeing as well, especially if you have children or pets. Therefore, don’t consider hiring that local building Inspector Murray Bridge as an unnecessary expense. A single inspection could save you a world of trouble later. It would also let you know that you are not overpaying for a problem property.

Don’t Ignore the Possibility of Negotiations

As a buyer, you have rights and a say in how the final terms are laid out in the contract. Don’t hesitate to negotiate with the seller for terms that can be more favourable to you. This usually refers to the price. But you might be able to discuss payment plans as well, if such applies. You can try doing the negotiations yourself if you are a good communicator. Otherwise, it’s best to hire an agent or a solicitor to negotiate the contract on your behalf. Never give up on getting yourself a favourable sales contract.

Do Calculate the Long-Term Costs of Ownership

Don’t think that once the sale is done, the costs of buying the home are all done as well. In fact, you would be saddled with taxes, legal fees, and possible other service charges involved in the sales process. Not to mention the mortgage you will now have to pay off. So before buying the house you have in mind, take some time to calculate all the costs of ownership. This is easier to do in the final stages than the earliest. You can decide exactly which house to buy during this stage.

You should closely work with an agent or a solicitor to ensure that the sales process moves forward smoothly. Don’t delay submitting any paperwork and do meet all the deadlines on time. Then you will be ready to call yourself a proud homeowner.

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