Buying a property can be a nerve wrecking, especially if you are a first-time purchaser.
These tips will help you to navigate the process smoothly and avoid common mistakes.
- Build a healthy savings account – Building up your savings is very important; your lender wants to know that you aren’t living pay check to pay check. It’s common to secure a loan for 90% of the valuated price of a property which means you must have the 10% deposit at hand. You must also have enough to cover your closing fees and stamp duty.
- Get Pre-Approved – You should get a pre-approval letter before you begin your house hunting. This way you’d know your budget and you can search for properties within your price point.
- Compare mortgage rates – Many purchasers get a quote from one lender, leaving money on the table. We advise you compare mortgage rates from three financial institutions and negotiate for terms and condition that serve you best.
- Buy a property you that you love – Buy a property that you are happy with. Be certain that the property you are considering checks off the important boxes on your list and that its suitable for you and your family
Advice for the Seller
Advice for the Seller
Putting your property on the market intimidating especially in today’s economy. However, there are things you can do to maximize the chances of getting it sold.
- Get a valuation or appraisal – Find out what your property is worth before outing it on the market.
- Check out the competition – Follow real estate web pages, this gives you an idea of what properties in your area are priced at and how the interior is outfitted.
- Declutter – Get rid of all excess stuff that you have accumulated. People need to visualize themselves living there and may find it difficult to do with lots of personalized items.
- Paint – Give your walls a fresh coat of neutral colored paint. This will make the property seem bigger and lighter. Also change your welcome mat at the front door.
- Carry out minor repairs – Change broken door knobs, leaking taps, patch holes in the wall, cracked tiles, stained carpets. Many purchasers what a property that’s move in ready.
- Clean everything till it sparkles – Remove limescale, polish floors, repair tile grout and get rid of all odors.
- Update your kitchen – The kitchen is the most valuable room in your home. It is worth the most per square foot and can make a big impression on buyers. Consider refacing your cabinets for a fresh look. It’s more cost effective than reinstalling new cabinets. Upgrade your counter-tops if necessary, epoxy is a good option. Declutter counters and remove bulky appliances and change dated appliances.
- Showing the property – You’ve hired a seasoned agent, so let them have control at viewings. Its their job to know what to say, what to highlight and what to downplay.