10 Steps to Buying a House – It’s Easy if You Do it Smart!

Most people desire to buy their own home. It can be a daunting exercise without a plan. However, it is easy if you do it smart and engage the right professional expertise along the way. In this article we shall be reviewing the 10 steps to buying your own house..

1.Start your research early:

As soon as you decide to buy your own house, start doing your research. Buying your first house is regarded as one of the biggest milestones in life and may take a lot of time and effort finding the perfect house for yourself. Visit websites, Instagram accounts and magazines that have real estate listings. Make a note of the houses that you are interested in and what they have in common in terms of their features. Also, note the differences in price in various areas.

2. Determine how much you can afford:

Buying a house is obviously a lot more expensive than renting. Therefore, It is advisable to establish the price bracket based on your personal financial circumstance. Check how much you qualify for a mortgage and decide how much you are able to put towards the deposit of buying your own house. This is also a good time to start going to open houses in your prospective neighbourhood to get an idea of what your money can get you.

3. Find a real estate agent/agency:

Finding a real estate agent is essential during the process of buying a house. If you don’t get a personal referral, check reviews online, meet a few agents and ask some questions. Your real estate agent will listen to your needs and requirements. They will provide you with helpful information with their knowledge of home buying, negotiation and finally make recommendations that suit your needs. Best thing about real estate agents is that they are absolutely free as they get paid through commission when you buy a house.

4. Start looking at properties:

Let the home tours begin! At this point, you and your real estate agent know what you really want and need in your home. One tip is to make a checklist and or take pictures and videos of every home you visit, because you will see a lot. Chances are you’ll realise some new things you like or hate about homes and filter your search.

Some important details to look out for when house shopping includes:

  • Open and close windows and doors to see if they work properly.
  • Try the plumbing and electrical systems.
  • Are the amenities most important to you available in the neighbourhood such as schools, hospitals, convenience stores, train station etc
  • Are there enough car parking spaces for your family and visitors?


5. Ascertain the authenticity of the seller:

With the help of the real estate agent or agency determine the genuineness of the title of the house you are interested in buying. Extreme caution should be taken to make sure the seller has the authority to sell and that the property is registered and certified in the owner’s name. You can also do independent check from owners of the neighbouring properties you are interested in purchasing.

6. Make an offer:

Once you have found the perfect home, work with your real estate agent to negotiate an offer that is comparably fair based on the value of the homes in the neighbourhood. Once you have submitted the offer you get to wait for a response. Typically the seller or their agent should get back with a response within a day or two. Whereby your offer is accepted, happy days! If rejected, carefully consider whether a revised offer is necessary and within the value of the property otherwise to do not hesitate to walk away to continue on the journey.

7.Contact the Mortgage bank to obtain a loan:

Mortgage providers offer a wide range of competitive home mortgage rates.. Typically the rate offered to individuals would be dependent on personal circumstances, the property under consideration and a personal credit check. You may want to consider putting down a large deposit in order to reduce your monthly interest or a small deposit and spread the term of the mortgage over a longer period to reduce the burden on your finances. Whatever approach you take make sure you are able to meet with the mortgage obligation. You will have many questions and that is okay, the customer service of the mortgage provider will be there to respond and guide you in picking the mortgage plan most suitable for you.

8. Completion day:

On this day, get ready to do some reading, sign the paperwork required to complete the process of buying a house, read again and sign more paperwork. This can be exhausting but you have done most of the hard work and you are almost at the finish line. Your solicitor should guide you the completion process every step of the way.

9. Get your keys and move in:

The D-day is here, you are now a home owner! Your sale contract specifies the exact day/time you are allowed to move in. You can now undertake some DIY, unpack and enjoy your new home.