Eight Tips for Successfully Buying a Home

Buying a Home

The housing leaves behind 2016 with an average rise in the price of 3.31% and experts say that the upward trend will be maintained by 2017. This recovery in prices and the opening of access to credit initiated by banks will encourage surely those who have been waiting for the right moment to jump on the purchase of a home.

Buying a Home

This is possibly the biggest investment that will make a person throughout his life. Therefore, it is essential to think well the decision not take the final step until we have analyzed in detail all the factors that can affect the operation. To help in this regard, the Alfa Real Estate network has collected the main eight recommendations to make a correct investment, let us talk about housing, premises or properties to rent.

Analysis of the revaluation

First, it must analyze the options with greater revaluation capacity. According to Jesus Duque, vice president of Alfa our recommendation is that if the housing is destined for investment. If we are talking about a commercial space analyze the growth prospects in the most modern and dynamic areas of the city.

Search for funding

When it comes to financing the purchase, you have to conduct an extensive study to find the best credit offered by the market. The current situation offers a very favorable mortgage conditions for the buyer.

Mortgage conditions

The monthly mortgage payment must not exceed 40% of the household’s net income. However, keep in mind that by slightly increasing the price range to be analyzed. You could find a much better home, which in the end will be more comfortable and profitable in every way.

Advantages of the second hand

In the case of opting for a home to live, or to monetize through the rent, the buyer may be more interested in a second-hand property in the center of a city. In this case, buying a home to renovate can count on interesting advantages. To the possibility of designing the house to your measure adds the possibility of achieving greater discounts in its final price. If this option is decided, it is also important to ensure that the housing does not have associated debt.

Importance of location

The location is key when it comes to investing correctly. Whether it is to live or to rent, factors such as the existence of public transportation, green areas, the proximity of shops or educational centers will always keep their investment up.

 

Close to your home

From Alpha, they say that if the intention is to buy to rent, the most correct option is to invest in the same place where you live. Otherwise, any change of tenant or possible breakdown will mean a significantly greater expense in transfers or hiring of personnel that can support you in your repair.

Community Expenses

Analyze correctly, in addition to the final price of the home itself, community expenses. If these are very high, or are distributed among very few neighbors, you should incur monthly payments that will significantly increase your investment or make your investment less profitable.

Meditate the decision

The firm recalls that it is so important to know the market objectively before making a decision, such as giving a quick response when the opportunity arises.