Buying a home is the biggest investment you will make, so you don’t want to go wrong there. The real estate market is tricky, and especially more, for first-time home buyers. You will probably get a lot of advice from everyone, but it is important that you only get the right, authentic, and useful information. There are a lot of places where people can go wrong while buying property. But if you are a first-time buyer and all set to buy your dream home, below are a few points that can help you make the right decision:

Do Proper Planning:

Preparation is the key. Before making a big decision to buy a house, you have to get a few things straight and sorted. The very first thing you have to think about is the reason you are buying; is it to reside at or is it an investment? Next, is to decide where do you want the property, which city, which locality, what kind of neighborhood do you want?

If you have these two sorted, think, and list out what are your criteria for your dream house. How many floors or rooms do you need? Do you need an open roof or a garden or perhaps a garage? Make sure your criteria list out all your needs. Now finally, think about your budget; how much do you want to spend on the property, and work around it.

Hire a Real Estate Developer:

Sometimes even with your research, you might not be able to find the right property that fits your needs. So, get a professional to help you with his/her insight and detailed information on which property suits your criteria. With the help of a real estate developer, you will get updated on new or soon to be available properties you can invest in. Getting a professional will save you time, and your investment will be less risky.

Find the Right Property:

With or without a real estate developer, you first have to find a property to invest in based on your criteria. Look into the houses on sale, visit open houses, and consult. Research is very important, so give about two months to have a proper idea. Also, keep your options open. Don’t settle for the very first house you see. This way you will make fewer mistakes, and down the line, you will be able to get the house you like as well as the one that fits your budget and criteria.

Prepare Economically:

Preparing economically is as important as your research. If you ever want to buy a house, you have to save up early and regularly from your income. Apart from your income, your tax returns are important too; it determines how much money you will have and how much mortgage you can pay. 

Also, check your credit score and make sure it is good because a good credit score equals low cost and low-interest rates on your mortgage. And most importantly, don’t spend all your money. Avoid this crucial mistake and make sure to have some money for after you move in. You still have to cover your daily and monthly expenses, your mortgage, and your needs.

Apply for Loan Early:

You might or might not have enough money to buy a house on your own. Assess your assets and income first, and based on it apply for a loan. If you don’t want to wait years to get a house of your own, get a loan and get a headstart. Make sure you have learned about all the schemes available, different mortgages, and interest rates. See which plan suits you and costs you less. Also, apply for a pre-approval for extra assurance and apply for it before you start looking for a house. This is necessary because it will give you an idea of what you can afford and what you have to do to get closer to your dream home.

Don’t forget to Negotiate:

Real estate prices depend on various factors like location, age, plot size, square footage, style, and features. Sellers can value their plots at any rate but, you have to make sure that you don’t settle for their price blindly. To avoid this, you have to do your market research properly. This will help you to avoid any pitfall and negotiate with the seller to get the best deal. Make a smart decision, not rash.

Don’t forget to schedule Home Inspection:

Seeing is believing, so you should always visit the house you want to buy. A visit is a must to know what you are getting into. Don’t be fooled by attractive ads and lucrative promises. 

Do the first inspection yourself, you can do it by visiting an open house. You might be tempted to bring others either your family or friends, to get a second opinion. While the thought is good, make sure you don’t crowd the space. Or you will end up being swayed by others’ opinions and not being able to analyze the property according to your needs.

If you like the house and it fits all your criteria, schedule a more detailed, professional analysis of the property.

Get Homeowners Insurance:

A common mistake first-time homebuyers make is to think that once they buy the property they are done. But, you must think about the home owner’s insurance. Insurance ensures your safety and makes sure your investment doesn’t go in vain. So, think about insurance and prepare accordingly. This means to get clarity on what your insurance covers and what it doesn’t. And choose which policy fits your needs.

A home buying process can be easy if you are prepared for it. First-time buyers have it tougher when there is a lack of options and information. So, research and appropriate preparation are key here. Once, you are all set, the buying process will get easier. You are one step away from your Dream Home. 

Imperial Park Group Asia has a dedicated sales team who are always ready to talk to you and help you in your investment. If you need any help and want to inquire more about our Exclusive Pool Villas.

Contact 098-245-2465 or

info@theimperialgroupasia.com.