Tips on Finding the Right Property to Purchase
Buying a property is a critical decision, whether you’re purchasing it for yourself as a place to live or you’re buying it as an investment. Either way, you need to ensure you choose the right property. The right property will meet your needs and can provide you with a happy home or a good investment. In this article, we take a look at some tips for finding the right property to buy.
Define your reasons for buying a property
There are always reasons for buying a home, perhaps it's to be closer to your place of work or to get more space for you and your family. If you’re buying a property to rent out, your reasons will be very different; it could be to make extra money on the side or as a way to pay off half of your current mortgage. Having clear reasons why you’re buying a property can be helpful when making your decision. Keep these reasons in mind when looking at your options so other factors don’t persuade you. For example, you might find a property you love that’s further from your work than you’d like to drive; if you’re moving to shorten your commute, you should disregard this property immediately. Otherwise, you might find yourself in the same situation, looking for a new property again in a few years.
Set up alerts on your phone
Properties can come onto the market at any point in the day; in a competitive market, being the first to know about a property can have its advantages. Alerts can be useful to let you know when a new property that meets your criteria is available for sale. In addition, it will stop you from spending all day refreshing and searching to see if anything else is available. Searching for a new property can be very time-consuming and take over your life. If you don’t find something within a couple of months, it can be frustrating and even impact your work life or personal relationships. Alerts from listing websites and estate agents can prevent you from spending all of your time looking at property listings. You will only be notified when a property meets your criteria, saving you time and effort looking at things that aren’t suitable.
Don’t go to viewings alone
When you’re viewing a property in Hong Kong or any other location, it's important not to go to property viewings alone. This is for two reasons: it's much safer to go with someone else to a stranger's house. Additionally, having a second person on hand to see properties can be incredibly helpful. They will point out things you don’t notice and will have a completely different take on the property. This can help you form a more rounded opinion and avoid falling in love with a property without thinking about the practicality of actually living there. The person you take with you should know and understand your needs, or they should be someone that’s also going to live with you at the property. Avoid taking anyone that you regularly disagree with; this may cause tension and friction. At the end of the day, you, the property owner, will have the final say on whether or not you want to buy the property.
Make notes or take pictures
When looking at many different but similar properties, it can be hard to remember which is which once you’ve left the property. Notes or your own pictures can help jog your memory and prevent you from needing to call the owner or the estate agent to arrange a second viewing before making a decision. Although a second viewing is completely acceptable and a good thing to do, it's just in some cases; you might find the property has sold by this point.
These are just a few tips you can use when choosing the right property to purchase. A list of requirements is also a great way to check if the property has everything you need. Also, remember to look at several different options before making your choice; it's useful to compare all of the options on the market and see the price differences.