Buying a flat is, without a doubt, one of the most important and thoughtful decisions of our lives and encompasses many aspects. In this context, it is normal to have many fears, since the purchase of a home means investing the savings of a lifetime to obtain a more satisfactory future. That is why in this post we will help you not to miss any things to consider before buying a flat.
Before buying a house, you should consider two things:
That you will have to go to visit homes and that is where you should pay attention to what to check when buying a house, among which we highlight the proper functioning of the devices that are at your disposal (if it is second-hand housing).
That all the seller’s papers are in order. You should be very attentive to this aspect since it is the most important step and it will mean signing and having a new house or not having one.
20 things to consider before buying a flat
If you are here, it is because you have no idea what aspects you should look at before buying a flat. They are many, and it is easy to forget someone on the way. So, now, we’re going to show you the things to keep in mind when buying a house:
Step 1
Define the price you want to spend and this is the first step you should do before buying a flat. Ideally, the money you allocate to the purchase of your home revolves around 35% of your monthly income. Add to that the savings you have.
Step 2
Determine the form of payment: once you determine the budget that you are going to use to buy a house, the next thing is to think about how you are going to pay for it. You can do it in cash (pay the whole price of the house at once by means of a bank check), by means of a mortgage loan (you will have to talk to your bank to specify the terms in which to repay the mortgage loan) or by mortgage subrogation (change of mortgage). Ownership of the mortgage debtor, in this way, the buyer continues to pay the rest of the seller’s mortgage).
Step 3
Decide the type of housing where you want to live: Ask yourself if you want new construction, a second hand or a protected housing. The one has a cheaper price than what exists in the market and is intended for those sectors of the population with economic difficulties, for which you must fulfill a series of personal and economic requirements.
Step 4
Decide the location where you want your new home is located: I want hospitals, schools or work is central, close to public transport, …
Step 5
Choose your seller: Once you know how much you want to spend and where you want to live, your search will be more precise and easier. The next point is to decide who you want to buy it for. For this you have several options:
- Individuals (with these, the negotiation will be more agile and accurate) through Internet portals,
- Real estate (with a real estate you make sure you have an advisor to accompany you in the purchase process),
- Promoters (with them you ensure a new house but many times you have to buy on a flat, and with it, you can have uncertainty about the correct completion of the house) or banks.
Step 6
Make a visit to the bank: d eberás check the conditions of the mortgage loan for new housing or have bank acceptance for mortgage subrogation. As a buyer, you are not obligated to make subrogation. You can request a new mortgage.
Step 7
Now comes the process of visits. You will have to inspect the entire community, in addition to the floor you want to buy. We advise that in the process of visits you take someone close to you, to help you and both of you can take notes. Added to this, you can ask the questions you need to the neighbors, who will be the best advisors in that regard.
Step 8
Make a financial offer: Once you’ve opted for a type of housing, you must give way to negotiations. This depends on each autonomous community, but normally buyers usually ask for a reduction that goes from 10% to 30%. This does not imply that the seller has access.
Step 9
Sign the contract papers: Always refers to an economic “sign” before the end of full payment of housing. In this, if the buyer cancels it will lose the given signal and if it does the seller will have to pay the buyer double what the buyer has contributed.
Step 10
Signature writing: l or you should know before buying an apartment is that this operation is reliable, both sides attest that agree with what they sign. This deed provides legal certainty by verifying that the aspects included in the document are in accordance with the law.
Step 11
Expenses derived from the operation of sale: Sales that not only have to assume the costs of paying the house but add the costs of the notary that are derived from this operation. If neither party agrees on anything, the contract will be according to the law (according to the autonomous community). But in the private document, it will specify what expenses the buyer and the seller will assume. It is prohibited by law for the buyer to assume expenses that the seller should assume.
Step 12
Be clear about your rights as a buyer: s open when you can enter your home. If it’s a second-hand home, let the seller of the house give you the keys.
Before formalizing the purchase do not forget to check:
You may think that you already have enough with what we have told you, but before signing any document you should attend to the following aspects:
Point 1
That all the papers are in order: before you buy a flat, you must make sure through the Simple Note (it is an informative document) that the owner of the house is the same one who is selling the house.
Point 2
If the home is free or not of mortgage charges. One of the things to keep in mind when buying a house is to know this information well. Normally the notary who accompanies the tenant and the landlord is in charge of informing the buyer of all the information he needs to know. At this point, the seller must do everything possible to cancel the mortgage and be up to date with payment or subtract the amount pending payment from the buyer at the sale price of the same.
Point 3
Before buying a house, make sure that the quota of the community of neighbors is up to date with payment or if there is an outstanding debt before buying an apartment.
Point 4
Another aspect that you should review when buying a house is to make sure that they are up to date with the electricity, water and gas bills.
Point 5
Another thing you should consider when buying a flat is asking for the certificate of occupancy: It is a building that will happen for reform after purchase if a ruined building or if you move from being a local to a house.
Point 6
Another aspect that you should review when buying a house is the proof of the last receipt of the IBI: When you paid the Tax on Real Estate.
Point 7
Before buying a house, you must know if the house has an Energy Efficiency certificate or not.
Point 8
Another thing to keep in mind when buying a house is to see if the house has damage insurance against any accident.
Point 9
Know if the house has a Building Book (it is a document signed by the developer and the developer and the property manager provides it).
Point 10
What you should look at when buying a flat will be, also, the state of the Technical Inspection of buildings (It is passed every 10 years in buildings with more than 20 years old).
Point 11
Another thing you should know before buying a flat is if there are pending works to be done in the building: Know the ones that have already been done and if there are any planned.
Point 12
Knowing the rules of the community of neighbors (for example, if pets are allowed) is another aspect that must be taken into account when buying a flat if this is something important for you.
Point 13
Another of the things that you should look at when buying a flat is, without a doubt, know what is the state of the plumbing and the electricity of the house. This is to check the pressure of the faucets and make sure that the lightbox works properly.
Point 14
The minimum sale value established by the community: It is important what you have in mind is the price to find out what the payment to be made in the transfer tax.
Point 15
The most important aspect that you should bear in mind when buying a flat is that you define exactly the price of the house (do not pay for a price lower than the real price of the house) and in what way you are going to pay (metallic, check…).
Now you know all the aspects that you should value before buying a flat. However, you may find yourself confused by the number of aspects and legal papers that must be attended. You choose the house of your dreams, and we sell it to you with the complete certifications of the market, taking care of all the paperwork. And, as if that were not enough, we give you a year of home insurance. We help you achieve your purpose quickly, easily and transparently so that your only concern is to decorate the favorite corner of your new home.
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