How to be sure of making the right investment? There is a guide with the ten main things homebuyer should know. They mainly have to do with the analysis of the price, the choice of the mortgage, the forecast of expenses or the revaluation opportunities.

Whick Things a Homebuyer should avoid do

1-Do a study on the price and the potential revaluation of housing

The price is the main variable to take into account when deciding on one home or another, but it is accompanied by another vitally important argument: the potential revaluation. It is advisable to combine an attractive price with expectations of a solid future.

2-Find a flat for which you do not have to pay more than 40% of your salary

The budget is one of the most important factors when buying a home. Therefore, before hiring a mortgage loan, it is important to know what monthly expenses can be paid, making a projection of income in the short and medium term.

3-Carry out a study on the mortgage that suits you best

Make an extensive study to find the best credit offered by the market. The current moment offers very favorable mortgage conditions for the buyer. At this point, the big question arises: mortgage at a fixed or variable rate? Fixed-rate loans have become the flagship product and already account for a third of total contracting. "If you are thinking about buying with a fixed-rate mortgage, do not let much time pass because financial institutions have already begun to raise prices.

4-Review all the taxation associated with the purchase of housing

The purchase of housing has various tax effects and is taxed by different taxes, which are on the rise. This is the case of Patrimonial Transmissions and Documented Legal Acts in several communities. The buyer of new housing must support a VAT of 10% in most cases, including garages and annexes that are transmitted together, for a maximum of two parking spaces, and 4% for homes with some protection regime. If the house is second hand, the buyer is obliged to pay the Transfer Tax (ITP), whose rate varies according to the autonomous community in a range between 6% and 11% on the sale price.

Read Also- How to check Property and Land Records in India

5-Calculate community expenses and their influence on profitability

In addition to the final price of the house itself, the experts in the residential market recommend a thorough review of the community expenses and the charges or debts that the purchase of the apartment may entail. Also, the home buyer must anticipate that, each year, he will be obliged to pay a fee of IBI, which is levied on the own tenancy of the house, according to its cad astral value and the locality.

6-Weigh the advantages of buying a home to reform

Both in the case of opting for a house to live as if it is acquired to make it profitable through rent, buying a house to reform can have interesting advantages, especially in the center of large cities. To the possibility of designing the house to your measure it is possible to add another plus: a greater reduction in the final price. Before beginning the reform, issues such as insulation, ducts or lighting should be analyzed, above all.

7-Save a plus of money for extraordinary expenses

Real estate experts recommend having two inexpensive mattresses. On the one hand, it is necessary to save, at least, 20% of the price of the property that one wants to acquire to pay the part that does not cover the mortgage Home loan. Only 2 out of 10 buyers do all the calculations before signing the mortgage

8-Visit the neighborhood and housing and review possible hidden defects

Before deciding on a property, it is important that a professional carries out a technical inspection that determines the state of the mechanical systems, the general disposition and the aesthetic-environmental conditions. The certificates of Professional Housing Inspection provide the assurance that the property is in perfect condition and the possibility of raising a possible discount if there is any defective element. In addition, it is advisable to talk with the neighbors to know what it means to live in that community.

9-If it is an investment; prioritize the area and profitability at the price

In the central areas of large cities, the residential market is recovering more solidly than the rest. However, they do not necessarily have to be the most profitable. The performance / risk ratio is more optimal in the periphery.

10-Do not rush ... or miss a good opportunity

The bargains are over: if you know what you want and where you want it, go for it. That is to say, we must not rush, but neither should we miss a good opportunity. Decisions, at the time, but without haste: It is so important to know the market objectively before making a decision as to give a quick response when the opportunity arises.

Hope the above mention things to avoid when buying a house will useful for you when you are going to buy property.