Buying your own house is one of the most exciting things you’ll ever do, but the decision to become a homeowner cannot come to life overnight - you’ll need to go through several important steps. Check out our step-by-step guide on buying a house right now!
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1. Do your research
While it’s possible to find a house, fall in love with it at first sight and close the deal shortly after, for most buyers it takes a lot of planning. Doing research on property is the first thing you need to do: not only will you get a better idea about what kind of house you want, but you’ll also learn the average property prices in your selected area and will be less likely to overpay for your new home.
2. Get your finances in order
There are several ways to pay for a house you want to buy: you can save the whole amount of money in cash, or sell your current home and pay the rest of the money out of pocket, or get a loan from the bank, or take a mortgage through the building company. No matter which payment option works for you personally, it’s important to settle the financial issue long before you’re ready to make an offer for a house.
3. Hire a real estate agent
While this step is not mandatory and you can buy the house on your own, having a property agent at your side during the whole buying procedure will give you the confidence you need for the process to go over smoothly.
4. Choose the house you want to buy
You can use every method available to you when looking for the perfect home, but we recommend starting your search on Jiji, where you can find thousands of offers in your price range. Visit the houses you’re considering buying and try to imagine living there. At this stage, when you pick the one house you want, you can ask the owner to do some additional repairs - there is a good chance they will agree if they’re eager to sell.
5. Deal with the paperwork
There is a lot of paperwork associated with the purchase of a home, and sorting through it can be a difficult challenge for a first-time buyer. This is where your real estate agent can come to help! The most important thing to do here is to determine whether the seller is truly the legal owner of the property. Check the rest of the paperwork, preferably with a lawyer, as well.
6. Close the deal
If you’ve settled the paperwork issue, there is only one thing left: to hand the money for your new home to the seller. If you’re paying in cash, you can do it right in the office where you’re signing the documents; otherwise it may take a couple of days for the bank to transfer the money to the seller. Now you’re finally ready to move in!
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