Buying our first home or apartment is a very exciting time, but at the same time it can be quite challenging. First you need to find the perfect property, whether it’s a house, an apartment, or a bungalow. Then it’s important to find a reliable and trustworthy real estate agent who will take you through the process smoothly. However, many first-time buyers often become overwhelmed with 5 fears, and if you know this feeling too, we can help you get rid of them!
Fear #1: I will have to waste thousands on renovation
Not many buyers dream of repairing and fixing the house they just bought, so it’s completely understandable that you want to avoid those extra costs. This kind of real estate fear can usually be overcome by a thorough inspection of the property before you sign any documents. It’s best to not go on house inspection alone – you can take a friend or a family member, who will be able to notice the defect you could have missed. If you suspect major problems with the house’s foundation, roof, or other important parts of the building, take a professional builder to the property inspection – he will tell you the exact condition of the house.
Fear #2: I will have to overpay for the house
Prices for real estate are based on a variety of different factors, which is why knowing the real price for the property you’re planning to buy is nearly impossible. For this reason a lot of inexperienced buyers tend to overpay for their houses: once they fall in love with property, it’s very hard to think straight and analyze the conditions of the deal. If you want to know if the price for your dream home is right, go to JiJi and view the real estate that matches your demands. Here is property in Lagos, Abuja, Rivers, and Oyo; 1-bedroom houses, 2-bedroom houses, apartments, and bungalows.
Fear #3: My property will lose in value
As you probably know, there are a lot of things that make real estate valuable: it’s not just the number of rooms and size of the estate, but also the location, proximity to large cities, availability of schools, hospitals, and other infrastructure, and so on. With time property sometimes loses its value for a number of reasons – for example, when a nearby plant that employed thousands of people, closes, or when another city becomes the most attractive place to live, making your current location less desirable. The only way to avoid these consequences is to somehow predict how the area will develop in the nearest years, and plan your purchase accordingly.
Fear #4: I will miss my dream home
Experienced property buyers know that once you find your ideal property, it’s very hard to let go of it. However, sometimes your dream house slips away from your hands – for example, when you haven’t signed the papers yet, and some other buyer offered the seller more money for the same home. Although it doesn’t happen too often, it’s important to hold on to the property you like. You can pay a small percentage of the price in advance, but remember to make the seller sign a paper confirming that he received the first sum of money from you, so that he becomes legally bound to the deal with you.
Fear #5: I’ll regret buying this property
Even though buyers spend ages looking for their ideal home, it’s still possible that you will be disappointed in your choice in a few years. The main reason for this disappointing is looking for a house when you don’t really know what you want. Solve this issue by sitting down and writing a list of characteristics your future property should have, including location, price, size, number of rooms, and availability of extra features. It doesn’t mean that the property should meet all of your expectations, but if it’s really far from what you have planned, then maybe this house should wait for another buyer.