Guide to Buying a Successful Home Is it a Good Time to Buy?
This article answers one of the most common questions: is it an excellent time to buy a home? Check why 2023 is the best year.
Is it a good time to buy a home? This question is one of the most raised in the current era, and the answer is more complex than what you will have commonly received. For us, it is always the perfect occasion to go for your dreams.
But we are not going to lie to you. You need to have a good plan. Do you want to make it? In this article, we help you!
Buying a house in 2022 could be the opportunity you were looking for. Without a doubt, this year is ideal to acquire your first home or your second residence for vacations. Whatever the option, let us explain why you should meet your goal in the coming months.
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Instability and bad rents
Is it better to rent or buy a home? Over time, the high monthly payments and the lack of flats are causing consumers to lose confidence in renting. It has caused a domino effect that has positioned the purchase of houses in the first place. Consequently, house prices have become unstable, and it is much easier to find unrepeatable offers.
Decrease in interest rates
Last year, specifically in July, interest rates fell to 1.4%. Such a low figure had never been produced, resulting in a much lower financial outlay. For its part, Euribor is facing a stage of ups and downs, although it still drags the fall of 2020.
Five aspects to consider when buying a home.
How to buy a home? If you have asked yourself this question, we will show you five aspects that you should not overlook. These will influence your purchase decision and future life in the new home.
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Home insurance
Is home insurance mandatory? As a general rule, no. However, if you have requested a mortgage, you will be obliged to contract it until you finish paying it—this minimum must-have coverage, such as fire protection. In any case, it is always advisable to have home insurance, such as a policy offered by Emerald Life Insurance, to avoid costly unforeseen events.
Environment and services
If you find an offer that is too cheap, it is best to check the environment well. Sometimes it can be because the owner needs to get away from a problem building or neighbourhood. Also, if you have to do a renovation, do not forget to know the schedule to make repairs at home.
Arras, yes or no?
The deposit is a kind of signal that, in many cases, is kept by a lawyer. This amount of money guarantees that the buying and selling process will not go unheeded. We recommend that you include this aspect in the contract if you are sure that you will buy it. If the owner quits at the last minute, he is obligated to pay you double.
If the owner quits at the last time, he is obliged to pay you double.
Meanwhile, a mortgage broker empowers you in your home-buying journey. With their expertise, you gain control over the process. They navigate the complexities, analyze your finances, and connect you with suitable lenders. This approach ensures you make informed decisions, setting you on the path to securing your dream home confidently. It’s like having a savvy friend in the mortgage world, making the journey to your new home much smoother.
Associated payments
Buying a house implies facing other expenses related to the process itself, such as the following:
- Minutes: You have to pay the agency, the property registrar, and the notary.
- Appraiser: If you are going to apply for a mortgage, the bank may ask you to pay an appraisal valid for six months.
- Opening commission: Creating a mortgage carries a commission that can rise to 2%.
Urgency and need
Many homeowners urgently need to sell a home. Their plan to use them for long-term investing has failed them. For this reason, many are being forced to sell them at a much lower price than the real ones.
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