Now that you’re ready to buy a house, you want to make sure that it is the right choice for you. The vice-president of the Cyprus Association of Estate Agent Entrepreneurs, President of the Real Estate Agent Entrepreneurs Association of Larnaca- Famagusta and Property Auctioneer, Mr. Marinos Kineyirou told us that if you follow these tips you will easily find a home that suits your desires and requirements but also your abilities to acquire it. We start from the assumption that a perfect house does not exist but there is an ideal choice of a house that is different for each person and is based on the relationship: what house I bought – how much I paid for it. To choose a house in the best possible way, you can apply the method of elimination.
Buy what you can afford
It’s easy to excess your budget when purchasing a house, which you quite rightly want to be the best to buy. Examine your finances, keeping in mind the current and future costs. It’s smarter to buy a house you can easily maintain, than a house with which you will be under pressure. Stay down to earth and you will be better prepared to deal with unexpected financial obligations and problems that may arise later.
Choose a region
The location of a house is very important. A house located in a busy, noisy road may be less pleasant, than from a one in a quiet location. In addition, a house in a new residential area is likely to worth more when the time comes to be resold, than from one in a busy area. Therefore, consider that the location of a house is more important than its spectacular interior. When buying a house, you are also buying a neighborhood, so think if it will suit you. Surely, you may like the house, but the neighbors next door or the school across the road may be very annoying for you. Also, consider if you like the neighborhood and if it can offer what you need. It is better to find a home in an area that meets your requirements. The direct access to public transportation, the distance from your workplace, if there are schools or shops, as well as the distance from your relatives’ residential area, are key parameters that should influence your decision.
The coverage of your housing needs is directly related to the surface of the house, the number and use of rooms, the floor, the parking and storage areas. Also, the orientation, the view, the layout, the decoration and selection of construction materials, are elements that characterize the quality of a residence.
Specify the time in which it is necessary or desirable to dwell in your new home. If it is under construction, it may take up to a year to be delivered. If it is inhabited, calculate the time required to be evacuated, and the time you need to make the necessary repairs or renovations.
When you are looking for a house, look for one that will be ideal to stay in many years – at least ten years. Purchasing and moving to a new house requires a lot of time and effort and if you add the expenses involved, you will find that the cost is high. Staying in a house for a long time will help you avoid these extra costs.
Think about what house style suits you best: a house, an apartment in a building or a house in a residential complex. Not all properties have the same size or fit every owner; for example a family may prefer to stay in a house while a bachelor in a small apartment. It’s nice to get a new house, but a newly build house is not always the best. Take into consideration the old houses as well, and do not reject them because of the construction year. You might not like the decoration which the previous owner had, but perhaps it has a basement or a large yard that a new house may not have.
‘House’ comes first, then the investment
When buying a house, do not think about the money you will get if you decide to sell it. A house is first and foremost a ‘house’, and not an investment. So first consider buying a place you are going to live in and then think about its resale value.
Search for information on pre-planned projects in the region, which may add value to your property or even downgrade it, thus its resale value would be affected.
Practicality and methodicalness
The Vice-president of the Cyprus Association of Estate Agent Entrepreneurs, President of the Real Estate Agent Entrepreneurs Association of Larnaca- Famagusta and Property Auctioneer, Mr. Marinos, told us that we should not waste our time and effort looking for houses that we already know they do not meet our housing needs, and ask the help of a licensed real estate agent as many times we feel necessary to get the right decision.