Buying a home is about having a place to live and making a long-term investment that will affect your financial well-being. Buying a house requires wise decision-making and careful planning. Understanding the home-buying process and other factors can help you make the right decision and avoid costly mistakes in the future. Here are some essential tips that will help you buy a new home.
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Choose a House Type
As a first step, choose the right type of house according to your needs and abilities. House type means the size of the building. For example, for new couples, you can use a house type of 45-70 meters, while for families with children because they need a bigger house.
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Determine the Budget
When planning a home purchase, you should know what kind of house you want, complete with its location. The more complete the information about your dream house, the easier it will be to determine the market price. Make sure you have calculated the budget according to your financial capabilities.
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Recognize the Developer's Credibility
If you are buying a house through a developer, it is essential to know the credibility and track record of the developer. Make sure there is no suspicious negative track record for the sake of security and smooth home transactions from start to finish.
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Know the Neighborhood Conditions
Buying a house is an important decision affecting your quality of life. You will be living in the house for a certain period, so it is crucial to ensure the facilities in the neighborhood. Water sources, soil conditions, and health and education facilities will add to your comfort while living in the house.
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Ensure the Legality Status and Completeness of Documents
After finding the house you want to buy, you should know in detail about the legal status and documents related to the house. Ideally, you should ensure the existence of SHM and IMB before making a transaction.
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Learn the Obligations of Each Party
To avoid misunderstandings and other risks, learn about the obligations of both parties before agreeing and transacting. You need to ensure you know the timing and amount of the down payment, key handover, and installment terms you need to pay. If you buy with a home loan, ensure you have prepared the necessary documents.
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Prepare Funds for Repairs and Furniture Purchases
Apart from preparing a down payment, you also need to prepare funds to buy furniture and make repairs that may be necessary. Make a budget for basic furniture, such as beds, tables, and chairs. Also, set aside funds for minor repairs or renovations that may be needed to make the house more comfortable and to your liking. Setting up these funds early on will help avoid financial problems after moving into a new home.
Buying a new home is a journey that requires adequate preparation and knowledge. By paying attention to the tips above, you can make wiser decisions and ensure that this investment brings you and your family long-term benefits. For more tips, see here.
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