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Best to Buy a House through an Estate Agent
There are so many things that can go wrong when buying a house. Particularly prone to overlook certain things are obviously those people who see no need to bring in an experienced partner. Perhaps the most important thing is to find the right property. It often takes more than just screening the real estate listings. Other factors that play a key role in addition to the actual property obviously include location as well as price and intended use.
If, for example, you are looking for the house of your dreams with the intention to owner-occupy it, you will apply very different criteria than you would to a semi-detached house that you plan to let. Not least, securing a sound financing arrangement also plays a key role. Accordingly, our advice is to always consult an estate agent you trust and a reputable bank when seeking to buy property. Together, you will make the most out of the homeownership process.
Buying a House through an Agent – Professional Help in Your Search for a Property
When seeking to buy property and consulting an estate agent toward this end, you stand to benefit in several ways. For one thing, an estate agent has access to a broad-based network of traders and is probably aware of properties you might be interested in. On the other hand, a good and experienced estate agent also knows the general situation on the real estate market and will gladly advise you on your plan to buy a house and the steps involved. If you decide to buy a house through an estate agent, you will obviously have to factor the agent fee into your budget. As a rule, though, a good estate agent will save you more money than you spend on the agent fee.
Parallel to the estate agent’s activities, you should by all means keep studying the real estate classified ads and listings in online platforms. There is a good chance that you may come across an interesting property the estate agent has been unaware of. It can often pay off to share your intention to buy a house with relatives, acquaintances and friends. Someone might have a tip and even know of a good deal. Not least, banks and insurance companies often sell real estate as well. So, it cannot hurt to mention it next time you are seeing your account manager and to present yourself as a prospective buyer.
Buying a House for Owner-Occupancy
Before you start hunting for a house to buy, you will no doubt have made up your mind about its intended purpose. If you are looking for the perfect home for yourself and your family, personal preferences in regard to interior design, location and privacy will be key priorities. Prospective owner-occupiers will obviously place greater emphasis on a convenient commute to work, on the proximity to relatives, on the availability of schools and day-care facilities than a buy-to-let investor would. The subject of privacy extends, in addition to the immediate neighbourhood situation, to the personal arrangements concerning house and garden.
The type of house and its dimensions should match the needs of your family. A stand-alone detached single-family home or a semi-detached unit represent the most frequently voiced desire of people who are looking for a new home and who wish to buy a house for the purpose. The best way to move forward in this context is to seek a sensible compromise between the aspects of plot area, dwelling floor area and price. A respectable estate agent will be happy to help you sort out related questions, drawing on a rich trove of empirical evidence.
Buying a House as Buy-to-Let Investment
If your plan is to buy a house and to let it, you will normally look at other types of houses. Naturally, you are at liberty to buy and let a detached home or terraced house – and in an exclusive residential area you may actually earn handsome returns doing so. But the number of investors interested in properties of these types are limited and so is the number of qualified assets on the market. Multi-unit dwellings are a much safer bet, and they can take a variety of forms, from a semi-detached house to the apartment building with many rental units. Your estate agent will gladly help you make the right choice, will advise you on the letting potential of a property and point out leases about to expire, if any.
Whether buying a house as buy-to-let investment is actually a paying proposition depends not least on the location and region. If you buy a house in a rural region where the transportation access and other infrastructure are poorly developed, you will normally get fewer tenant leads and the rent level is likely to be low. In return, however, such a property is often very attractively priced. The opposite tends to be the case in urban locations with convenient transport links and a strong incoming migration. With the help of an estate agent, you will have an easier time judging whether a given property is worth your while and, inversely, recognising offers with little upside potential.
Important Aspects of Homeownership Financing
For most people, buying a house is the investment of a lifetime – especially in financial terms. Few other decisions have such long-term consequences, as most buyers spend decades paying off their mortgage loans and commit more or less their entire savings. It is unsurprising therefore that people tend to balk and to worry about making a misguided investment. All the more reason to get professional advice.
Before you even start checking out property listings after making up your mind to buy a house, you should do an honest budget review. There is a very real risk of overestimating your financial resources when coming across tempting offers. Be sure to deduct your costs of living and an amount toward your emergency fund from your monthly income. The balance will represent the maximum amount available toward your loan payments. Moreover, you should have at least 20-30% of the financing total on hand in equity capital to pay down, so as to keep the financial burden of buying a house within acceptable limits.
The price of a house is, by the way, not the only position in your house-buying budget. In addition to the financing costs, there will be incidental costs like the real estate transfer tax, the notarial charges and the fees for the entry in the land register. Add to this the estate agent fee. Nor should you lose sight of the fact that the property you buy will immediately start generating operating costs. These tend to run between one and three euros per square metre.
Buying a House with the Professional Support by Accentro
There are many aspects to consider lest you run into trouble when buying a house. Accentro is an experienced and effective partner to address any issue involved in real estate acquisitions. We will help you select the most suitable property for intended owner-occupancy or letting, will advise you in all matters concerning location and development, and will even assist you with any financing issues.
Please take advantage of our search mask right on this homepage, and browse through our property listings for various sizes and locations. From the well-appointed detached home all the way to the terraced house in direct waterfront location, partnering with Accentro will make it so much easier to buy a house.