12 POINT ULTIMATE PROPERTY BUYING CHECKLIST

12 POINT ULTIMATE PROPERTY BUYING CHECKLIST

Buying your first property is the best thing but, can also be frustrating if you don’t know what to look out for. So I’m here to make a list of the ultimate 12 point property buying checklist, which is going to help you save yourself from some downfall.

BELOW ARE 12 CHECKLIsT OF PROPERTY BUYING

1. SET YOUR LONG TIME GOALS: Before thinking of buying property, you must know WHY you want to buy property, don’t just buy because someone close to you buys. You also have to prepare ahead of time.
2. GET YOUR BUDGET IN ORDER: You must get your budget right before you even plan to buy property. If you know that you would buy property in the future, then you have been saving.
3. ORGANISE YOUR FINANCES: Most times you want to invest in properties; you may not have all the money you need to buy. At this point, you have to around to see if there’s where you can get loans with low-interest rate, especially if you have any credit you can use to your own advantage, for example:
   If an interest rate is 10% per annum, the business you want to do is 30-40 return or the property appreciates 20% every year and what you have to pay back is 10%. This shows you that you’re on advantage side.
4. RESEARCH THE MARKET: The location of your property account for up to 80% of its performance. You have to consider Government plans for the area you want to invest in. Demographic, Local Economic, Infrastructure, Job Creation Access to schools and Shopping Centre
5. BUY THE RIGHT PROPERTY: Looking for an investment grade property is very important when buying; you have to buy a sure property which keeps attracting people’s attention. Your property must not only appeal to tenants it must also appeal to owners.
   Not all the property in the market are investment-grade property, even if the location is good,  you have to make sure that the property you’re buying is situated in a location which would keep attracting people.
6. SEEK ADVICE: It is very important that you look for a reputable property buying agent who has your interest at heart, someone who would represent you, instead of themselves to assist you in doing some of the research, negotiation so as to get the right property for you. Talk to BoomConsult Now
7. BE THRALL: Make sure you don’t buy any property under the emotional influence, never make a mistake of making an emotional decision, remember that is a property you’re about to buy and not cloths or any other things. You have to be sure you're satisfied with the property you’re about to buy.
8. SEEK FURTHER ADVICE: Once you’ve found a property you’re to but Seek further advice, especially from property valor to help you tell the worth of the property or what could likely happen to your property in the next ten years.
9. BE PRACTICAL: Don’t be carried away by your new property, make sure you’re fully satisfied with the property you’re buying.
10. NEGOTIATE: You don’t have to agree with the first asking price. If you know that the price isn’t favorable, then you can negotiate. Remember it must not be on the price
11. LOOK FOR A SOLICITOR/LAWYER: Conveyances is an important process that facilitated the illegal transfer of an owner of the property from the ownership to the buyer. Remember, you may know law more than a lawyer, but a lawyer knows where to find the law.
12. BE PATIENT: Don’t rush in, especially when an offer just pop-up from where you’re not really sure. Take your time to do diligent check to make sure your money is saved or you’re buying from the right owner. So be patient and don’t rush to buy because it is cheap or because of the so call property agent.

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I hope with the above 12 point checklist of buying your first property guide you as you as you make a commitment to buying that property.

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