Buying a new home or property is a daring challenge many people fail to stand up to. A good deal in the real estate market is not a dime a dozen, and can be quite difficult to strike. Those becoming homeowners for the first time should brace themselves. Especially when operating on a tight budget. To make the decision making process easier, you must come up with a list of non-negotiables. These are the elements and properties of the living environment you cannot do without.
Needs wants and non-negotiables
We all have different needs and wants, but most people want more than they can afford. There is no such thing as a perfect home. And a reality check can be a good place to start. Know the difference between non-negotiables and mere preferences. Which are not something that should make you rule something out automatically.
The process of negotiations involves many ups and downs when buying a new home. And the best way to go about it is to inform and educate yourself before starting the search. The first thing to consider is the type of property you will be looking for. Is it a condo, a townhouse, or a single family home? There are a couple of other important issues to get familiar with before even thinking of signing the contract.
Whether it is a flow of rooms, location, garden size, kitchen floor plan, a nice street appeal or a number of bathrooms, there are certain characteristics and features people are not ready to compromise on. Many buyers desire a parking space or a garage. While others pay attention to walking distance, restaurants or grocery shops.
There are some things, however, that every buyer should inspect before making a purchase. The most common non-negotiables include enough storage space, privacy, plenty of natural light, and the number of toilets. Also, structural integrity is a milestone of any living area and something that everyone must keep a close eye on. Just note that too long a list of non-negotiables makes property hunting similar to looking for a needle in a haystack.
Finding the right property is only one part of the process leading you to become a proud homeowner. Sorting out all the legal matters involves going through a truckload of documents, something most people don’t have time, energy or skills to pull off. They don’t understand how one can secure the deed of the property and gain legal title, and how much time this takes. When buying a new home there a lot of documents that must be reviewed.
In countries like Australia, this process takes between four and six weeks and is conducted by a licensed conveyancer or solicitor. Who can assist you with anything from title searches to preparing the necessary documents. Hiring a professional is preferable in such cases, and companies like Think Conveyancing can help you deal with property conveyance issues.
In the United States, on the other hand, the process is different, varying from state to state, and does not have to include the formal closing. Sometimes, attorneys are involved in the process, but most often the transaction is closed using an escrow. Only then will you be able to receive the keys and open the door of your new haven.
Taste of the new home
Personal tastes differ, and the same goes for budgets. Regardless of those conditions, however, it is always a good idea to plan ahead. Be prepared to make some compromises and keep in mind that buying real estate is a serious investment. A list of non-negotiables should not be a mile long, and it must be realistic for your budget.
Finally, one should be aware of all the administrative, legal and practical bumps on the road to owning a dream home. Making the whole ordeal faster and simpler can save you a lot of nerves and money. And buying a new home can ultimately change your life for the better.
Author bio: Zoe Clark is a blogger from Smooth Decorator. When not obsessing about designing perfect homes, Zoe is spending time with her family. You can find her on Twitter.