Purchasing a new home is a massive event in everyone’s life. There is so much to think about when you are buying a new home that it can be easy to miss something which comes back to bite you later on. A structural issue that you didn’t know about or some unforeseen costs in the buying process can seriously affect you down the line so it is crucial that you pay attention to every detail. Hiring the right professionals to help and double-checking everything before you buy will help to ensure that your new home is perfect when you come to move into your home.
Here are our six top tips to help you avoid unexpected surprises when purchasing a new home.
1. Check the Hidden Buying Costs
It is not just the asking price that you need to budget for when purchasing a new home. There are various hidden costs that need to be taken into account when buying a property. From property taxes to agent fees to closing costs, you have to factor everything in to make sure that you aren’t hit with charges later which you can’t afford. Mortgage repayments are usually homeowners’ biggest single monthly outgoings, so never purchase a mortgage loan that you can’t afford or you could end up having your new home repossessed before you have even had time to enjoy living there.
2. Get a Full Pest Inspection
A pest infestation can quickly turn a new home into an inhospitable place to live. When you buy a new home, you want to enjoy it with your family, not share it with some unwanted guests. The folks at Pest Resources explain that there are various pests such as rodents, termites, ants, and cockroaches which can come as a terrible surprise if you don’t get a full pest inspection. Expert pest control services will be able to spot the telltale signs of even the most elusive creatures and critters and deal with the problem before it gets out of hand.
3. Have a Full Survey Done on the Home
Everyone who is planning on buying a property needs to get a comprehensive survey done before they commit to handing over their money. A property survey will alert you to many issues which could result in incredibly costly repair or maintenance. The most important things you need to check are structural and foundational issues as well as the age and condition of the roof. Wiring and electronics need to be checked also as a problem there can be very expensive and potentially dangerous. Check the certificates of the current owners to ensure that these systems are up to scratch.
4. Obtain a Real Property Report
A Real Property Report (RPR) shows that a property complies with the local municipal regulations. It proves that the property is not encroaching illegally on its neighboring properties and that all of its boundaries are where they should be. If not, you could end up with a costly legal dispute with your neighbors or the local jurisdictions and end up owning less land than you thought when you viewed the home. RPRs are valid for ten years so if the property already has one, check how long it is valid for.
5. Speak to People You Know in the Neighborhood
As the old real estate saying goes, “Location! Location! Location!” One of the best ways to find out if a home is in a desirable area is to ask friends or family members who live in the neighborhood. They may have some invaluable information about problem neighbors, local council taxes or other issues which may come as a horrible surprise after you move in. The last thing you want is to be relaxing in your new living room, only to find that your next-door neighbors host house parties every other night.
6. Check the Local Parking Restrictions
If your new home has its own driveway or parking space then this last tip may not apply to you, but there are many homes, particularly in busy cities, where you may not automatically get a parking spot. If you are planning on parking your vehicle in the street, you will need to check the local parking restrictions to ensure that is permitted and also that it will be safe there. Check for CCTV or other local neighborhood protection systems so your can park your vehicle securely outside your home.
Purchasing a new home should be an exciting time so the last thing you want is an unexpected surprise. Make sure that you understand every aspect of the buying process and that you do all the due diligence required. Follow these six simple tips and you will have a perfect home to move into.
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