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5 Tips On Buying Property

3 Apr 2023 | Blog

Buying property is one of the most important transactions in a person’s life. Property holds a key role in our lives both because of the high price tag and prominence in our day-to-day. One of the basic elements when we speak of ‘well-being’ and ‘comfort zone’ is our household and how it later becomes our home.

In this sense, we know buying property is not an easy task. We at Tecnotramit want to hand you the tools to do so in the best way possible. Here are 5 tips to not make mistakes when buying property:

1. Choose the right moment

As you know, the property market fluctuates over the years since it is affected by the economy. Given macroeconomic reasons, both national and international, the property market is not always the same and there are times when average prices rise or fall depending on the context and balance between supply and demand. This item is not decisive if you are buying due to a housing need. But if you can afford to wait and choose when to buy, you will always be able to access the market under more favourable conditions.

2. Evaluate in detail your financial situation

Making the decision to buy property is very important. Not only does it entail saving up sometimes years in advance, but having also financially studied your situation to properly evaluate your economic capacity for the entire transaction at hand. In other words, calculating your exact property budget.

3. Seek advice on your mortgage

You will have to bear in mind that should you need mortgage finance to buy a home, ‘information is power’ as the saying goes. Having professional advice to sign the ideal mortgage based on your needs will allow access to financing under the best conditions and without nasty surprises. In fact, Tecnotramit have mortgage management experts. This is the reason why we can help you find the best mortgage at the best price.

4. Research the property market

It is time to analyse the market once you know your worth -the maximum amount of money you can invest in buying a property between equity and a loan. Property websites are obviously useful, easy, and convenient tools to see a significant portion of the housing available. We recommend, however, contacting estate agents in your preferred areas so they can inform you of new available housing and arrange visits as soon as possible since not all properties are listed on these websites.

5. Don’t be in a hurry

It seems obvious but… ‘Don’t rush it’. And this is 100% accurate when it comes to buying. Once you have chosen your ideal property, time can play in your favour to negotiate the best price for it. Don’t let impatience play tricks on you, keep a cool head, and don’t lose sight of your goals when closing the transaction.