Buying a home is one of the biggest decisions in life, whether it is buying a first home or moving to new squares. By reading the Home Buying Guide, you will ensure that you choose the home that is right for you and that you have considered all the important details to keep in mind when making your purchase.
Desires and needs
Once you have made the decision to buy a home, map out your expectations and needs for living. Think carefully about where you would like the apartment to be located, what kind of services should be found near the apartment and what the apartment should be like. Where do you spend your time and time; for example, how much can you commit to renovating your apartment? With the options for the real estate in Costa Rica you can now come up with the best options and that also within the budget.
Calculating your budget
When planning a home purchase, you should start by thinking about your budget. Consider how much initial capital you can invest in the apartment and how much loan repayments you are willing to pay each month. The available budget sets the frame for how much mortgage you can get from your bank and what price you are going to look for.
In addition to paying off a mortgage, you should also be prepared for other expenses, such as transfer tax, consideration, removals, and possible renovation costs for a condominium or home. For example, the transfer tax is paid within two months of the purchase of a home – two percent of the sale price of a housing stock and four percent of the sale price of a property.
Selecting a residential area
The location of a residential area is often one of the most important criteria for a new home. Depending on your life situation, a good location can mean, for example, the convenience of public transport, easy access to the motorway or good bike lanes in the area. The proximity of services that are important to you, such as a school, a kindergarten, a shop or even a gym, will also significantly influence your choice of neighborhood.
You should not limit your search for a residential area to familiar, well-known areas – your dream home can be found in a surprising place. Housing areas are also evolving and the perception of a neighborhood that is perceived as uneasy or remote may well contain outdated information.
Listing of property features
Budget and location provide the frame for your home search, but you should also list the criteria for your dream home on paper. List down what are the most important features you need from your home and what you can do if you need to. You can save thousands of euros if, for example, a balcony or sauna are not absolutely essential.
The type of house, the area of the dwelling, and the number of rooms are all important decisions. Consider whether you are ready to renovate a large detached house or whether a well-maintained apartment block is a good choice for your family after all. Also, consider future needs if you are planning a family or pet purchase.
Sale of current home
If you are planning to buy a new home to replace your current owner-occupied home, the problem may be the so-called two-home trap. Therefore, banks and Realtors generally recommend that an old home be sold before buying a new one.