Buying a new house is a very big deal. After all, it’s a lot of money that you will be spending on a very big asset – it’s not a decision that you want to mess up, especially as it could be very expensive to move again straight afterwards!
Thankfully, there are lots of parts of the whole purchasing process that have been put in place to help buyers by flagging up any potential issues that they need to be aware of. That’s the main reason why buying a house can be a very lengthy process – it takes time for your real estate attorney to go through all of the documents and details to make sure that you are aware of everything that you need to be.
So, once you find the house of your dreams, you need to know that there are certain things you will be told or given that you need to pay close attention to. Here are some of the most important ones.
The Price
One of the first things that you will know about a potential new home is the price. Hopefully, if you are being wise during your house hunting, you will only be looking for homes that fall well within your budget. That way, there is no chance of looking at and falling in love a property that is way too expensive for you. Once you do know how much the house you want to buy is priced at, you will need to start thinking about getting a mortgage and how much you will be able to borrow. For this, it’s worth speaking to a mortgage broker as they will be able to find you the best kinds of mortgage deals.
Real Estate Agent And Attorney Fees
Don’t forget that you will need to pay for a property attorney to oversee your whole property purchase. If you are also selling a house, you will also need to find a real estate agent to sell it through. Using these professionals is going to cost you money, and you will be expected to pay them in full on the day you complete the house purchase. So, make sure you don’t put all of your money into the house purchase as you will still need some leftover to pay these legal and estate agent bills.
Documents And The Deeds
At some point during the purchase process, your lawyer should draw up a report that should be full of important information regarding your potential new home. It’s really important that you read through all of the documents in this report very carefully. If there are any potential legal issues, then they will be included in this report. For instance, the report should detail any previous attempts at getting planning permission for an extension that might not have been granted. You will also find copies of the property deeds in the report too, which will outline the legal boundaries of the property so that you are aware of exactly how much land will come with your home.
The Property Survey
It is also important that you get a property survey carried out on the house too. In fact, you might need this done in order to get a mortgage. For the survey, a structural engineer will inspect the property and let you know about any potential issues or repairs that might need to be carried out. For instance, they might recommend replacing old single-glazing with new double-glazed windows from this website. Most of the things they flag up shouldn’t be enough to put you off buying the house. However, if you do find that there is some structural subsidence or other expensive work that needs seeing to, then you might be better off walking away from the property and finding on that is problem-free.
Urban Planning
Lots of people look for houses that have great views. For instance, a house in front of a large field will have some spectacular views out of the back bedroom windows. So, you might be very annoyed to find some builders starting to construct a new housing estate in that field just a few months after you move in! To make sure you don’t end up in this situation, ask your solicitor to look into nearby urban planning. They will be able to tell you if construction work is planned in the near future in the surrounding area.
If you pay attention to all of these things then you can be happy knowing your house purchase should be free from any issues!