Step By Step on Introduction To House Buying Process

Feb 14,2021

Are you looking for the right house but confused where to begin? Well, don’t worry, this blog will step-by-step guide you to the basics of buying a house.

The first step is to do the research. Anything you do, research is the quintessential aspect of your life. In the case of buying houses, the research includes:

 Finding out an available property,
 Listing them, and
 Seeking professional help from real estate agents who will review potential buyers and help you set up a meeting with the sellers.

The second step is finding and hiring the right and knowledgeable real estate agents and Vastu professionals who can understand your preferences and help you give expert advice and verification. It is always a great idea to rely on real estate agents for hassle-free house buying. And if you are a firm believer in Vastu, seek help from Vastu professional.

After choosing professional agents, the next step is to have proper knowledge and ideas about where to find a property. The location of your preference for the house is very important as with location comes the facilities and the neighborhood. Facilities include services of necessities like 1. Drinking water, 2. The sewage system, 3. Hospitals, 4. Schools, 5. Parks and markets. The location should make your life convenient so it is more than necessary to buy a house favorable for you.

Next comes the step of knowing the house you are about to buy. The history of the house is a prior-information to get from the seller before finalizing the deal. It is directly related to the rentability and re-sellability in the future. In Nepal, according to the latest household survey by the Central Bureau of Statistics, urban households spend about 45 percent of their income (Rs 431,337) on foodstuff and 18.7 percent on rent alone. The survey, however, does not include questions related to a family’s monthly installment for buying a house or a flat. So, proper interrogation about the age of the house and foundational elements like pillars should be done. This will open the door for the tenants which can help you to earn extra. Information about these will help you to add revenue purposes in the future.

Transparent communication with the parties involved is another crucial step while buying a house. For clear-cut information with the sellers, your agent, and other involved parties, open communication is a must for avoiding disputes, money laundering, or any sorts of confusion/ misunderstanding. Of Course, you will be meeting many people, many referrals, and in all this, two-way communication is the key.

And the final step is always to negotiate the pricing. While dealing, always pay attention to the closing cost, house warranty for at least a year, and repairs related to the inspections. Also, you can negotiate regarding the flexibility of closing or moving in dates. There are many factors involved with this process, but it also will save you money.

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