First dream: See what is important when securing your first property!
Buying a property has never been easier! Pre-approved lines of credit and mortgages progress fast. And they generate more and more followers. Launches are planned and carried out during all periods of the year.
Builders and developers are working at full speed to have more and more products for you. Now, do you know what is important when securing the purchase of your first property?
Well, do you know what the next steps are? Here we will show you some of the main ones: Research and extra expenses! Which are two of the most overlooked topics among clients and buyers of real estate, whether new or used.
Research – How to conduct a good research and relate your property to your investments
That buying their first property is on the list of Brazilians’ greatest dreams goes without saying. What is lacking, in most cases, for the realization of this dream is research. Which, generally, comes together with a key word of the entire process: planning.
Research is one of the main points of good planning and needs to be done with great care and attention. One tip is to emphasize the research and use it to assess and confirm important planning points. Such as:
#1 – Property of Dreams: Do a thorough research and put in the tip of your pencil what are the characteristics of your dream. Get together with your trusted real estate professional and ask them to help you with your search. A team works much better than a single player.
#2 – Your dream goes hand in hand with your investment: Look for properties that are in good valuation. Or even those located in key regions, which tend to receive little devaluation over time. If something goes out of your plans, you can always rent or sell the property. And having a property valued and in great demand, will give you a lot of help at this time.
#3 – Time is your ally: Understand that time is your ally. The process of researching, financing, purchasing and moving into your dream property is time consuming by nature. Keep in mind that the more time you have to go through this process, the better.
After all, the chance of making mistakes, or changing your mind drastically decreases if you have more time. Also, you will need to understand the market, the types of investments and the options for different types of residence. So, from time to time.
#4 – Patience is a virtue: As mentioned in the previous topic, time is your ally. Therefore, patience must be your most precious asset! Don’t make decisions on impulse and always have planning first on your list.
#5 – Adaptability is everything: It is true that, with a lot of time and patience, the research will come out perfectly. You will have a good understanding of the market, how to make investments and even your own desires for your home. However, if you have a very extensive wish list for your home, I suggest adapting!
This is because some properties have unique characteristics. And trying to find them all and a property is a Herculean task. So sometimes, to get a good deal, it’s better to adapt. Instead of insisting on a property that possibly won’t exist in the region you’re looking for.
Investment – How to plan for extra expenses and have a better financial organization
Financial organization is perhaps one of the things that should be listed first, along with research. This is because it is what will enable the real change to come out of the paper. After all, you can’t buy a house or apartment without having your own bills up to date.
What many forget when buying their first property is that it can generate extra expenses. It is not because the property costs R$ 400 thousand, that only four hundred will be enough for you to live in it.
The first tip we bring is: set your budget right. If you have investments that have good returns, leave them there. Often, the interest received will be greater than the interest paid on a loan. So, think carefully before moving all your money to purchase, in part or in whole, your dream.
Our second tip is: understand the entire procedure for financing and purchasing the property. Put in your research the background of the people who lived in the property, if used. And try to understand the entire property payment process, and how it will work with your cash flow. In addition to all the steps of possible or probable financing.
As a third tip: search for the best time, and don’t be afraid to negotiate. Depending on the moment of the market and the economy, it is possible – in most cases – to get even 10% discount on the total value of the property. So stay tuned!
Another important point is about the liquidity of the apartment or house. As mentioned above, having a property in a valued region can make it much easier and make your investments worthwhile. Compared to a region with little demand and output.
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