Some essential rules to make good decisions.
We're João and Maria, and we've recently fulfilled one of the biggest dreams of our lives: we bought our own house!
The journey so far has been full of ups and downs, but we're very happy to have finally found the home of our dreams. Throughout this process, we've learned some valuable lessons that we'd like to share with you.
Here are a few things we found essential to keep in mind when buying a house:
1. Location
A house can be a project for life. It's essential to choose a location that combines all the characteristics that are ideal for us.
We can't emphasize enough the importance of choosing the right location for your home. Before you start looking, think about what kind of neighborhood you want to live in. Are you looking for a quiet, family-friendly suburb or something closer to the city center, with easy access to shops and restaurants? Also consider proximity to work, schools, and other important commodities.
2. Define your priorities
Pinpoint all the must-have features of your dream home!
It's easy to get lost in all the options when it comes to buying a house. Before you start your search, make a list of the essential features you want for your home. This can include the number of bedrooms, size of the yard, and architectural style, among others. Having these priorities well-defined helps narrow down your options and will prevent you from feeling overwhelmed during the buying process.
3. Make a financial analysis
Analyze the maximum amount of money you can spend, without jeopardizing your financial stability!
Before you go house hunting, it's crucial to have a clear understanding of how much you can afford. Carefully analyze your finances and consider factors such as the down payment, deed costs, transfer tax (IMT), compulsory insurance, the choice of a bank loan with a fixed or variable rate (predicted monthly payments) and, in the future, the Municipal Property Tax (IMI) que must pay.
Don't forget to include a margin for contingencies and maintenance costs. It's also essential to calculate your effort rate. The costs of buying a home should not represent more than 30 % of your income.
4. Carry out a full inspection
It's important to consult an impartial professional who evaluates the pros and cons of the house before you make a decision.
As tempting as it may be to get carried away when you find a house that looks perfect, it's essential to carry out a thorough inspection before closing the deal. Hire a professional to examine the house. This expert will detect any structural, electrical, sewage, or humidity problems, among others. This will give you peace of mind that you won't have any nasty surprises after the move.
5. Think about the future
The years fly by, and your house has to fulfill future needs too.
When buying a house, it's important not to think only about your current needs, but also to consider the future. Are you planning to increase your family? Are you thinking of moving to a different location soon? Taking these aspects into account will help ensure that the house you choose is suitable for your long-term needs.
6. Negotiate wisely
Everything is negotiable, especially considering this huge investment.
Don't be afraid to negotiate the price of the house. Do some market research to get an idea of the property's fair value and use that as the basis for your negotiations. Consider the price, size, age, location, condition, inclusion of appliances, garage, or parking space, among others.
Buying a house is one of the most important decisions of your life, so it's crucial to approach it with care and attention to detail.
We hope these tips are as useful to you as they were to us. Good luck on your journey to finding the home of your dreams!
