The process of purchasing a home can definitely be a daunting task, especially for young couples and newlyweds. Not to mention the fact that buying a home will perhaps be the most EXPENSIVE investment you will ever make. Some of us believe that the process can be nerve-racking, well… fear not WIHCON is here to help. Here’s our top 5 reasons why purchasing a new home is NOT the same as buying a TV.
Reason 1: Identify key priorities for your home
Unlike a television, buying the wrong home is a decision that will haunt you for many years. Before purchasing your home, it is important that you list all the home characteristics that are important to you to figure out what it is that you value in a home? Some factors to consider include:
i. Price – what price range can I (we) afford?
ii. Size – how much space do you need?
iii. Location – where do you want to live?
Reason 2: Research, research, research
Now that you have your priorities in order, your next step is to actually get out there and start your “house-hunting” process. You can start by doing a simple Google search, or by browsing your local classified listings. At the end of the day, remember to ensure that the homes you have short-listed are in-line with the requirements on your priorities list!
Reason 3: You might need to find an agent (optional)
If you were like most people, you would prefer your home acquisition process to be as stress free as possible. If you agree, then perhaps you should consider engaging a real estate agent. Again, you don’t want to buy a home that you are not 100% satisfied with (based on your priorities list). For those of you who want to go on the home-acquisition process on our own, then you could make your purchase directly from the developer or contractor. West Indies Home Contractors has a beautiful website that allows customers to complete the first four steps of your home purchase directly from their website. You should check it out. Click here.
Reason 4: Get your finances in order
Have you ever heard the saying “your home is your largest INVESTMENT” before? Well, it’s certainly true. Some of us will not be able to buy our home using our own money (cash) and so we will have to seek financial support from a mortgage provider. Most financial institutions that provide mortgages are very flexible, and are will to do some ‘hand holding’ to ensure that you have peace of mind throughout the process. Contact your local mortgage provider today and learn how you can pre-qualify for a mortgage.