Finding your first job, getting married, having children – adult life is full of adventures and big decisions. Among the latter, buying real estate is in particular a choice that should not be taken lightly. Your first cozy nest must not only suit you but also meet certain criteria of a purely practical nature. Affordable price, advantageous financing, location, condition of the building and what else? Find the 5 questions to ask yourself before buying a property.
All the tips for buying your first home
Do I know the real estate market well enough ?
Before you even start looking for real estate, do your little self-driving market research. Factors like region, neighborhood, type, size and configuration of housing are a good place to start. Then, take your time to refer to all possible but equally reliable sources of information. Friends or relatives who have recently bought their own real estate could share a valuable experience. And then, since it is quite difficult to identify and compare the real estate offer yourself, do not hesitate to seek the help of professionals in the trade. Real estate agencies and hunters, notaries, bankers – each of these players would bring their particular contribution and expertise. This way you are going to make sure you make an informed choice..
The importance of learning about real estate market trends
What are my real estate needs ?
Another important thing to consider in this first decisive step is of course your needs. Based on these, you can then make a list of your purchasing priorities. Several variables are thus to be considered, including:
- location (city / district)
- exposure (brightness)
- area (number of rooms)
- with or without garage / balcony
- house or apartment
- new or old housing
- rental or residential real estate
- budget (borrowing capacity)
- additional charges
Make a list of the main selection criteria
How to finance my real estate project ?
Funding your entire real estate investment with personal funds is unfortunately not possible in most cases. The solution – take out a home loan. Before doing so, however, your borrowing capacity should first be assessed. Note that this would be much higher when you are in a relationship. Obviously, since the loan repayment would be shared between you and your spouse. Then be aware that there are several devices and state aids that are available to you to alleviate the loan. If it’s your first real estate investment, for example, you can count on a zero-interest loan. At this stage in particular, you would need the help of a banker or real estate broker. On the basis of the documents provided, your family, professional and age situation, he will be able to calculate an estimate of the monthly payments that you will have to assume..
To make it even easier and save you a lot of headaches, there is still the online loan simulation tool. Such a device is put in place by Find-mon-pret-immo.fr to obtain an estimate of its borrowing capacity in a few clicks. The process would thus be greatly simplified and accelerated. Thanks to the loan simulator Find My Real Estate Loan, you can get a very precise idea of your financing conditions and be accompanied in each step, up to the handing over of the keys. Bearer of the Passeport Crédit Nexity label, the simulator would also provide you with reliable proof of your borrowing capacity. This pass would make entering new accommodation considerably easier.
Use a loan simulator to make your job easier
Why is it so important to make a site visit ?
Visiting the site is essential, but what is even more important is to keep an eye out for any imperfections. Note that if there is a need for major work, it would drive up the price of housing considerably. For this reason in particular, take your time to closely inspect the various elements and identify faults, such as:
- damaged roof / roof leaks
- solidity of the frame and beams
- cracks in the walls, chipped facade
- ceiling / floor deteriorated by time / humidity
- inefficient insulation with high heat loss
- poor condition of equipment – plumbing / heating / electricity network / ventilation
Make an on-site visit to see the condition of the building
Why buy an attractive property in the long term ?
Finally, knowing how to project yourself into the future is very useful. The first step is to imagine your future personal and professional situation. Are you inclined to change your job frequently? Are your income stable? Are you planning to build or expand your family. Are there schools, public transport, shops nearby? Here are a series of important questions to ask yourself before taking the final decisive step. Second, it would be necessary to adopt a strategic thinking about the possible resale of your new home in the future. The advantageous location of the accommodation, its condition, the work carried out, would affect the value of the home when it is resold.
See real estate as a long-term investment