Most of the youngsters that I know of have a dream of buying or constructing their own home. This dream is very common these days because everyone wants to get out of the periodic rent and lease hassle lifestyle.
However, not everyone will have a clue about the things they must know before buying a property irrespective of the location.
Today, we will talk about a few must-know things before you buy a property. But before that, I’d like to say something out of my own experience.
In my experience, the sooner you buy a place of your own, the sooner you settle in life. This thinking will only occur to you after you get married. You’ll need to know how to approach the right set of people who can provide proper information and sources to make this dream of yours come true.
What kind of property are you willing to buy?
Firstly, you need to have an idea of what you want your dream house to look like.
Next, due to the rapid increase in property dealers and also the abundance of real estate brokers, you need to be careful while looking for a smart and genuine one.
- House (single house in a closed community or an open community)
You have an image in your mind and to bring it to reality; you need a fixed plan which will fit your dream house among the types mentioned here.
Location and Amenities
Purchasing land or a house is once in a lifetime event, so you cannot make this decision without proper preparation and planning. The location matters the most since you need to think of at least 10-15 years ahead.
A young couple will need to look for the location being child-friendly and the availability of bare minimum amenities. This will certainly help you make a smart decision for your family.
Costing and Budget
With the rising land value, you certainly need to think about the cost that you are willing to pay to the builder or the owner of the property that you are looking to buy. This will certainly affect you, your family and your finances in a huge way.
Consider the amount that you can shell out to buy the property and make sure that it is well under your budget. Also, keep some excess cash handy in case of emergencies (This always helps).
Communicating directly with the owner is the best option. However, if you go through a Montreal real estate broker, ensure that you have the right person to get the job done without any hassle. Also, ensure that the person is genuine and is not charging you too much money.
Land and owner or builder verification
Check with the local authorities that govern over the land selling and reselling sectors to dig up as much information as possible regarding the property. Try to gather all the necessary papers and documents related to the land.
This will help you be assured that the owner or the builder is genuine and you will be relieved to buy the property. The registration papers and title deed shouldn’t have any discrepancies either.
Infrastructure and Planning
You need to know every aspect of the property properly, the main reason for this being; if any authorities demand proof or certificates, you shouldn’t be in a bad position.
Considering the infrastructure, you will get a better idea about the materials used to construct the house. Registering with proper authorities to make the transaction go as smoothly as possible will certainly help you in the long run.
Being a homeowner myself, I personally had to go through the same procedure in order to buy a property of my own. There are various other minor factors which will be uncovered once you start to do your research.
With that being said, I wish all the very best to your new transition from being a tenant to becoming a home-owner.