Buying A House - You Need A Checklist!

Buying a house can be very difficult with many different things you need to remember in order to buy your house without problems. Here are some of the key things you need to make sure you have completed before you can buy a house:

1. Are you pre-approved for a house loan? If you are not pre-approved for a house loan then you run the risk of finding a home that you want to only to go to the bank and find out you can't get a loan to buy it, or even worse you can encounter lengthy delays and end up losing the house to someone else who has their loan pre-approved and ready! Pre-approval is fairly straightforward to get, just go to local bank and explain that you are planning to buy a house and give them an idea of how much you are looking to lend.

2. Have you made a budget? If you are buying a house you need to have your finances in good condition and the best way to do this is with a budget. You need to accurately work out how much you earn now and how much you realistically expect to earn in the future, subtract all necessary expenses, and the remainder is how much you can use to save for a deposit or to make repayments on your loan in the future. If you don't budget you can end up in serious financial trouble!

3. Have you done enough research on the area where you want to buy? Many home buyers fall into the trap of not doing enough research into the neighbourhood they are buying into. You need to not only inspect the property many times but also inspect the neighbourhood. Problems such as loud barking dogs, constant noisy parties and violence in the neighbourhood are things you need to look out for, and you can only find out about these things by asking the neighbours and personally exploring the area.

4. Have you made a plan for how you will negotiate to buy? In order to get the best price for the house you're buying you need to have a plan. If you are buying from an auction you should go to a few other auctions before the real one just to get the hang of it, and if you are buying through an agent you should talk to friends who have bought homes as they will each be able to give some advice on the perfect strategy.

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