Buyer's Guide » Think before you buy
Buying a property is an important step and whether the purpose of the purchase is residential use or investment it is good to familiarize yourself with several key moments of the selection and the purchase of a property.
1. Set the preferences of the desired property
Each property has multiple characteristics and specifications which should be considered and prioritized . You need to know what is the most important for you and with what you could do a compromise. The main characteristics are: area, location, size, type of property, number of floors, type of construction, exhibition layout, view, surrounding infrastructure and many others. One of the most difficult processes in the purchase may be the ability to make a proper assessment as to whether you will be able to find a property that corresponds to all of these characteristics with the finances you have available. If you are not aware with which characteristics you could make a compromise, you will be likely to search for a non-existing property and miss out the most appropriate proposals.
2. Finding financing for the purchase
Finding the funds for the purchase is another very important condition. The options are well known – personal savings, finds from the sale of other assets, bank loans, borrowings from financial institutions and others. If you do not have personal funds to invest, you should investigate the possibility of funding from other sources. Important: ensuring the financing of the purchase should be prior any property viewings, otherwise you are risking to waste your and many other’s people time.