Things To Be Aware Of When You’re Moving House


When you are buying a new home, you should consider multiple things before making a decision. From the type of house and location and of course your budget; it’s time to educate yourself on what you should be looking out for. Let’s look through some important points before you consider making the decision of a lifetime!

Choose your home

To have everything clearer, it is time to start looking for the type of house you want to buy. It can be one-story, two-story, large or small.

What you should take into account are the factors that will influence its final costs, such as its location and the square meters in which it is built.

If the price rises more than the goals you initially set, it is likely that you will need to request a higher amount of credit and that this increases the time in which you must pay it.

The time in this first stage can vary depending on your tastes and demands to find a house; that is to say, it may be that using online tools you will find some constructions that catch your attention. However, visits to the properties are what will determine which is the best option for you.

This will likely make the home buying process easier by allowing you to compare different properties and their prices.

Calculate the amount of credit you need

A mortgage loan is a loan that an institution offers you to help you in the process of buying a house.

They can be granted by government entities, such as Infonavit and Fovissste, or by banking institutions. If you do not know how to apply for a mortgage loan or refinancing a mortgage, you should refer to the mortgage refinance calculator.

Once you have a loan or mortgage secure, banking institutions usually handle periods of 60 to 90 business days to analyze situations such as the credit bureau and the history you have to approve or reject the application for a mortgage loan. This is the same in many countries also. 

Plan your savings

Based on all of the above, you should always take into account the savings you have and the target amount you need to buy your home.

Perform an analysis of all your income, expenses, and detect money leaks that affect you in the long term. For example, based on the prospects for houses that you have already searched, you can give yourself an idea of ​​the savings you will have to achieve to give the down payment on the house you choose.

Usually, this down payment is recommended to be 30% of the total value of the property, although it mostly depends on the entity that grants you the mortgage loan.

Setting a savings goal for a home

The first step in acquiring your home is to establish a savings goal because from it you will be able to know what actions you need to carry out to meet your goal.

Saving is often complicated for some people because it requires organization and willpower to refrain from making unnecessary expenses that can often mean a change in your lifestyle.

However, every decision involves a sacrifice and if you have decided that it is time to start building your wealth, you will have to make some adjustments that will bring great rewards in the long run. Follow these tips to save, we are sure they will be very useful to reach your savings goal.

To begin, you must analyze the state of your finances, in this way you can know where you are and how close or far you are from the goal. You must ask yourself if you have a problem such as that you cannot cover your expenses or that you have any unpaid debt. You should know if you have income problems or if you are debt-free, but you should consider getting some advice on what to do next if you can’t repay.

Also, diagnose your spending problems, these occur when we have the same income as someone, but unlike them, it is not enough for you and you live with just enough, then you may be making unnecessary expenses.

Lastly, review your debts. Don’t have anything lingering over you that could damage your chances of getting the mortgage you desire. 

 

Photo: Unsplash

Reasons you are considering moving house.

 

Opt for something new! Sometimes we just need a change! Those who decide to change have the opportunity to choose a house that has a newer and more modern structure, which allows the family to live with more comfort. If you look for a property that is out of the city, you will most likely get more space available with the purchase. It is common to be equipped with more spaces in the garage, balcony, in addition to green areas, leisure, and services. Having more leisure options is another reason. With the change, it is possible to take into account the leisure options that the place offers. If the intention is to increase quality time with the family and avoid countless trips to have fun, living in a condominium is a great solution. In addition to security, they provide several advantages, as they are equipped with courts, swimming pools, playground, green area, barbecue, and lounges to welcome friends at parties and celebrations. If you have the funds of course! 

 

Another benefit of moving house is choosing a more secure region. It will be an opportunity to evaluate the neighborhood well, checking if there is good policing and even private security. When choosing a house, you may want to see if it has preexisting security features or if you have the ability to adapt it to your needs. CCTV cameras can help support you. Changing houses also means a renewal of the family environment, since living in an inappropriate place, far from everything and often with little space ends up damaging the quality of life and even relationships. Moving house may allow the creation of a more harmonious place to live, one that can better meet the new needs of the family.

 

Is your family growing? The arrival of a child is one of the main reasons for moving to a new home, mainly because of the need for more space. Generally, a couple’s first property has one or two bedrooms and a comfortable size for up to two people. With the growth of the family, it is necessary to look for a bigger place, including a larger number of bedrooms and bathrooms. Some even make use of a space like an office, an extra room for guests, and a place for pets. All this added to the arrival of the new member of the family further increases the demand for a larger place to live, which accommodates everyone with comfort and quality.

What type of house do I want? 

While homeowners can make changes to a home’s external and internal appearance (which will affect its sale value), several other characteristics are not under the owner’s control. For this reason, it is imperative to choose a home location carefully. Take the time to research the perfect place you want to live in. You need to ensure it is the right choice for now as well as the future. Once you have decided on the geographical location, next you will need to work out the exact type of house; an apartment, a house, a mansion?

 

A rural setting can give you peace and quiet, but you may find that it is difficult to get the transport that you need. A home in the city can potentially pose the opposite challenge, you may not find the peace that you want. An alternative to both is a property on the outskirts of cities, between the big city and rural surroundings. This way you can have access to space and the local amenities. 

 

Different neighborhoods will have different qualities that attract different people. The aspect of the neighborhood you would like to live in may not be what it is in real life. Visit the neighborhood so that you can get a real idea of ​​its various aspects to ensure that they suit your tastes. Drive at different times of the day to measure traffic volume and how neighbors are interacting with each other. Getting an accurate picture of the character of the neighborhood is important to know what the area is like during the day and at night.

 

If you would like to live in the city, take into account the daily commute you have to make to your workplace. Sometimes it takes the same time to get to work while living within the city as living outside. A longer trip will have higher costs and less time to spend with family and friends. In the same way, if you are a buyer with children, or a buyer looking to create a family, schools, and the proximity to these of the house are important factors to consider. 

 

Jeff Campbell

Jeff Campbell is a husband, father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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