8 Things To Know When Buying a Home

31 July 2020, 00:02

By Halima Juma

Buying a home is one of the most important decisions you’ll ever make. The process, however, can be complex and challenging especially for first-time home buyers. Here are our tips for a fulfilling house hunting journey.

  1. Use a trusted realtor/agent – A savvy and experienced realtor can protect your interests and guide you through the home buying journey, from negotiating prices to navigating home inspections. Based on their experience, they are able to provide professional advice that you might not be able point out especially if you are a first time home-buyer.

  1. Online listings – The internet has become a key informational resource in real estate. When using the Internet, choose an online platform that provides you with extensive information about a property’s features. Going beyond superficial features such as location, space and type of home will enable you find out more about a home in order to make an informed decision.

  1. The property’s location and future prospects – Getting information on upcoming projects in the neighbourhood such as road, school or rail construction could give a better picture of the home’s value in future.
  2. Price – Buy what you can afford! Some experts suggest one-third of your gross income should be dedicated to mortgages, however, make sure you engage a financial expert before making this decision. Plus, remember other costs such as real estate taxes, home improvements, insurance and maintenance all of which cost dollars too!

  1. Smart Home Tech – Appliances and systems that enhance the livability of a home ensure low maintenance costs, higher levels of comfort and promise a great home resale value.

  1. Space – When buying a home, don’t buy for now. Think long term in terms of; how many kids are you planning to have? Are your kids moving out soon? Are you retiring soon? What are your future plans and how do they impact your home space needs? Having clear picture of your long-term needs will enable you adequately plan for your home space needs.

  1. Sustainable Eco-homes – Having a sustainable home is no longer just “good to have”, but an important factor to consider. This article by the Washington Post shows that sustainability has become one of the fastest growing desired housing features and a key factor to consider if you are seeking low home maintenance costs. Various online resources are available to provide information on certified sustainable spaces and features including: Realty Sage Energy Star , Global Real Estate Sustainability Benchmark and Measurabl.

  1. Natural lighting and Landscapes – Natural light largely boosts the mood of a home and also helps to save on energy bills as you do not have to switch on lights throughout the day. Having parks near a home is also important especially if you have kids and pets or if you are a nature lover.

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