Before commenting on the errors, we are going to tell you two factors that affect the acquisition of a home, but do not limit it. The first factor is the economic one; in this sense, it is good to have a limit budget to access the market. But just because a house costs more does not mean that it is not affordable, we can exceed the price as long as we see that the property is worth it, it is a good investment, and we can get financing from another side.
Thinking Too Much About Things
There is nothing wrong with being cautious and stopping to think a little if the offer before us is good or if it is a scam. Sometimes it is an offer, and other times it may not be worth the purchase as the apartment/property may have some hidden and fat flaw or flaw. With this, we want to tell you that you should comb the market well and be patient, but it is not advisable to wait too long, sometimes we have an opportunity in front of us, and we do not take it out of fear or mistrust.
Not Being Realistic
Another common mistake many people make is taking on expenses that they cannot afford. With this, we want to tell you to set a budget figure and do not exceed it. Of course, leave a small margin in case an offer appears that you cannot reject. But what you have to be clear about is that you are going to be able to face the mortgage and finance the home. So you should make calculations of your income, expenses and the savings you have to know how far you can access.
Not Knowing How A Mortgage Works
we understand that the economic aspect is the most important thing when purchasing a flat. If we don’t have money, we won’t be able to pay for it. And the same goes for the mortgage. Many people think that the expense of a mortgage works in one way or that the bank finances everything and then it turns out that many entities only finance up to 80% of the mortgage or even less.
Spend All The Money On The House
It is good that we save and spend time and money in the arrangement of our property. But we must bear in mind that we must leave some capital to furnish it, for expenses and contingencies, and that is that money is easily spent and more on the house. Our advice is to save a few per cent of the savings for contingencies. You never know what can happen.
Let You Influence And Not Comb The Market
This mistake is made by many people who think that it is never the best time to buy. That if the VAT goes up, that if the house is in the wrong place and a family member does not like it, that if the market has peaked, that if it is not a good time, all these are excuses that sometimes we put ourselves and that is that thinking like this we will never buy an apartment.
Let Yourself Be Carried Away By The First Impression
Whether we are sellers or buyers, the first thing to avoid is to be impatient. By this, we mean that it is okay to be cautious but not overdoing it. This is valid both for viewing flats and deciding to visit them and for carrying out the purchase process. It is good to know houses and visit them, but do not get carried away by the first impression. By the way, this is the same to make an offer, do not think that because you like a seller, you are going to make a discount. If we want to buy, we must remain cold and not let ourselves be carried away by feelings or by the first impression. Calm is our best ally.