Factors to Consider in Buying a Home.
There are several big decisions you will have to make in your life and purchasing your house is one of those. However, given how a big deal it is, you need to do your research well before moving forward to avoid making a mistake. If you are not going to pay cash for the house, you ought to make sure that you do all the right things to show the financial institutions that you are worthy of getting a loan. Make sure your money is not circulating a lot 6 months before you apply for a loan. Lenders and sellers have to be cautious and this means establishing that you are a trustworthy person and that you will not disappear after securing a loan from them.
Before buying the home, make sure that your loan has been approved even if you are not going to get it immediately. There is something that gets people confused and that is being told by the bank that they do qualify for the loan. The great thing about pre-approval of loan is that you will already have information on what the lender thinks about your creditworthiness and the definite amount you can get from them should you want a loan. You will not be disappointed because at the back of your mind you will know what you can afford and what you cannot.
You need also to do a thorough survey of the property you will be purchasing so that you do not get into disputes and Google is a great place to start. You cannot rely on your own knowledge but rather make sure that you have a professional surveyor looking into the matter as well. This may take you a long time as well as some money but it is worth it given the alternative is spending a lot of time battling with neighbors on where the property borders are. You might have seen people kill or injure others because of border disputes and this is how serious they can be.
It is true that there may be a time when prime land goes at low rates but waiting for this time is not the best thing for you if you are looking to buy just one home. Your might hesitate on buying a great home waiting for a deal that would never come. Also, unless going remote is your deal breaker, do not forgo small homes in great places in favor of big ones in a not-so-good place.