Acquiring one’s housing should not be done without a minimum of organization and preparation. During your purchase process, you will go through different phases. Each of them requires choices to make and steps to follow. Here is a guide in 9 steps to know how to buy real estate by limiting the risks.
What type of house do you want?
Defining the criteria of the accommodation you want to buy is a step not to be neglected. The more you fine-tune your needs and desires, the more effective you can be in your search for the perfect first-time homebuyer programs. The list of elements to study can be long: Preferred geographical sectors? Total area of the house (minimum, maximum)? Number of rooms? With or without a garage? With a garden? If so, what is the ideal area? Will you accept a joint ownership? With a separate kitchen or open? Is a swimming pool essential? Are you ready to do important work? Small development work? Do you prefer a house on one level or, on the contrary, one with different floors? Etc. Whether you are looking for it alone or through a real estate agency or a notary, all the answers to these questions will save you time in selection. It may also save you unnecessary visits. The answers to these questions are not so obvious, especially if you buy two. It will be necessary to find compromises between the wishes of each one. You have defined the house of your dreams, the one that brings together all your criteria? You will be able to go to phase 2: the calculation of your financing capacity
What budget do you have to finance this purchase?
House prices are very high. Before looking for houses that fit your criteria, first check if you have the budget for this type of purchase. In the article ” How to finance the purchase of my house? “, We have detailed the 3 main existing resources: Your personal contribution, Recourse to funding aids, Real estate loan By calculating the sums you can use in these three ways, you will have a clear idea of your budget. To increase your financial capacity and learn to reduce the cost, use our guides to improve your real estate financing. At this point, you now know what you want, you know how much money you have for this acquisition, and you must now take the maximum information on the real estate market in the city or the targeted neighborhood.
Find out about your local real estate market
There are thousands of real estate micro-markets. Finding out about the general trends in real estate in France is not enough when you are about to buy. You need to get the most information about the real estate market in your city. Do a mini-study of local market. First, you need to inquire about the prices charged for this type of first-time homebuyer programs. For this you can: Use these 7 sites to learn about real estate prices by focusing on notaries’ data based on actual selling prices, Find out in the local press, Look at the real estate listings, keeping in mind that the prices displayed are only the prices that the sellers want and therefore are higher than the actual prices of the transactions. Knowing the prices you paid recently will make it easier for you to identify good deals and avoid paying too much for your home. In addition to real estate prices, learn about future developments in your city, study the PLU (Local Plan of Urbanism), find out about shops and transport nearby, are part of the information to collect also. This will allow you to buy your first-time homebuyer programs knowingly.
Sort effectively the properties offered in real estate listings
Real estate ad sites are sufficiently developed today to allow you to do accurate searches of homes according to your criteria and budget. When you make your selection, check out properties whose price is up to 20% higher than your budget. We will see in a next step that the margins of negotiation can sometimes be important. You can start by doing very specific research with most of your criteria. In case of low offers on this type of house, you can always expand your target (geographically, removing some restrictions, etc.). Remember to create email alerts. This will allow you to follow news and changes. With the SeLoger site you will have a good overview of most homes put up for sale in real estate agencies. In addition, use the Small Pebbles or Castors tools. It will give you valuable information such as the history of the sale price, the date of uploading, etc. You will then get the majority of the goods sold by individuals on free ad sites. Of these, the LeBonCoin site is by far the most used.
Take all necessary information during visits
Have you found one or more interesting houses? Make an appointment to visit them. A first visit will allow you to check that all essential points are present and to make a first impression. Do not hesitate to ask a maximum of questions and take notes of the information collected. After visiting several houses, it is difficult to remember everything without mixing. At the end of this first visit, you will know if you eliminate this house or if it asks for a more in-depth study. With the permission of the owner, take some pictures of the main rooms. This will allow you to calm down with all the elements collected. Are you thinking of making an offer for this house? STOP! Take the time to make a second visit (or more if necessary). You must now: Have the cost of the work estimated by a professional, if there is one. Ask the seller or his representative about the price of the property tax, the condominium fees for houses in condominiums, the heating method and its average annual cost, etc. All this information is essential. You will need it to refine your budget and your price proposal. They must be obtained before proceeding to the next steps. Find the rest of this guide “How to buy a house?” with steps 6 to 9 (negotiation, offer to purchase, financing search and installation).