The Do’s and Don’ts of Buying a Property

Steven Zenios16/10/20193min
Buying a property involves a delicate balance of both emotions and logic. Although it is true you must feel happy and “fall in love” with your future home it is vital to keep logical about the reality of the home and keep strict do’s and don’ts policy.

Here are some important tips on what and what not to do when buying a property.

Do Investigate Every Aspect

This is where you need to ensure you have full knowledge of what does and doesn’t work for you. Reflect over what property is best for you, what features are ideal, what is your financial situation and mortgage qualifications. How does your budget match with your expectations is it realistic?

Do Keep the Future in Mind

What long term goals do you have and how does the property fit in with this? Is this a step on the property ladder that will later be resold or do you picture yourself for many years in the property, if so, is the space-efficient? What mortgage provider can you see yourself working within the long term?

Do Evaluate Location

Create an overall picture of what is important to you concerning location, do you wish to walk to shops? do you want access to public transport? If you have or will want children in the future what is the nearest school? Other factors that location influence include taxes and building restrictions, whereas some people may prioritize what view they see from their property.

Don’t Fall in Love with a Property Out of your Price Range

Before you begin to look at properties evaluate your finances so that you view properties that are within your budget, avoiding the temptation of properties that you cannot afford. Once your budget is clear stick to it and does not be pressured to look for properties that are of a higher price.

Don’t Overpay

To know the real value of your property you must have it valued by an independent party who can inform you of the correct value. Once you have this you will be able to know if the asking price is fair or not. It is very important to not overpay even if you do love the property as if a time comes where you wish to sell there is a high risk you will incur a loss.

Don’t Rush

Through various avenues either sellers or real estate agents you may be pressured to make snap decisions. Do not allow people to pressure you as it is vital to take the time to perform the above-mentioned research and checks. Do not overlook any floors or potential problems take the time to think independently of those who wish to have a quick deal.

Steven Zenios

Steven Zenios is a young author and designer with strong passion. A specialist in web design and development, blogger, author and Blockchain entrepreneur. He is the CEO of Web Theoria, a digital agency based in Cyprus. In the last 10 years, he has vastly improved his knowledge and skills to produce great pieces of work, both in the web design industry and article/blog industry. Contact Steven at +357-22029786 ext: 6120 or by email at [email protected] for editorial related questions.

About us

High Worth Citizen is all about delivering the latest business news on finance, investment, real estate and wealth. Our readers are the rich and powerful, their associates and business partners, the global High Net Worth Individuals.