10 mistakes to avoid when buying a home

In this period of crisis, if you want to buy a House cheap better to observe a few basic rules to not commit any odd. But how to avoid indigestion? Here are the mistakes to avoid when buying a home

1. not knowing your limits
The love makes blind, even when it is suddenly real estate lightning. When you search for something, you start pretty quickly to compare areas of kitchens, the tiles of the bathroom or the orientation of the garden. And there often tends to make the development for a yet unknown budget projects, and which can be priceless. Well consider what you can afford to buy before you fall in love with a House that could turn into real financial abyss without background (s).

2. let see your emotions
Once you’ve found the (affordable) home of your dreams, do not show too much enthusiasm. Even if you are crazy, do not show it to the seller. If necessary, you could not negotiate a price lower than the asking price.

3 underestimating the costs of accommodation
When buying a House, it is not uncommon to reach or even exceed the financial limit. Before estimating the total cost of accommodation, you will need to take account of repairs, supplies, or costs. Damaged gutters can mean the replacement of the roof. In the development of your budget, allow a margin to deal with this type of work. Every year, try to save 1% of the total value of the home for unexpected expenses.

4 underestimating the (tax) burdens
Most Belgians know the tax benefits their ownership of a dwelling. Unfortunately, is not always enough account of certain charges. Registration fees, costs of notary, land, income property tax, surcharges… These are terms that you have probably heard, without granting them important. But you should take them up in your estimation of the costs. A common one is not the other, a district is not the other. Even the in-facing sidewalk might be more interesting financially… Click here to see some tax tips.

5 think that your first offer will be accepted
Although prices have fallen, it is utopian to think that your first offer would be accepted without discussion. You will probably receive a few rounds of negotiation. A motto that is often confirmed: “persevering, you arrive at all”.

6. do more know-how of distinction
Avoid too much enthusiasm. If you are at a stage or defects seem you minimal (we can easily cover the cracks, water in the cellar dry in summer,…), better to call an expert. Or at least an acquaintance who can look good without be directly concerned by the purchase.

7. too much, too fast
If this is your first purchase of housing, will probably not be the last. Think long term. The construction of the pool of your dreams from your childhood will be maybe not for right away. This can also be done later, possibly at another purchase. And yet most certainly at present, where one knows yet how the real estate market will evolve.
Do not achieve great expense without being sure of their actual value. Design cuisine, a garage, veranda, terrace, an open fire, a swimming pool, a garden hut, additional land… do you really need all this now? Make sure to live comfortably and spread the great purchases and work in time. Your portfolio and your motivation are will be better.

8. Firstly the wishes, then the needs
You must pay more attention to the needs as wishes, especially if it’s your first home. If you do not yet have a job, wait to have one in order to evaluate what you can afford. Do you have children? Try to find a place that suits them. Your grandparents take care of your children after school? Looking for accommodation near the school. You are looking for accommodation that suits you for years? Think about mobility and proximity to public transport. In preparing your argument list, you will know what wearing your choice: the city / the campaign, an apartment / a House, a specific region. It is only after you can start your research.

9. good debt, bad insurance balance due
Most Belgians tend to compare the offer of several banks before making a decision. And naturally, it will be one that will offer the most interesting rates that will prevail. But beware of the ancillary products that could cost you: savings, insurance balance due, fire insurance, supplies,… In addition, you are not obliged to take the fire insurance or outstanding balance due from the same bank. You can negotiate these contracts with other banks or brokers.

10 no insurance against the loss of income
Monthly repayment of mortgage credit is an important position of a household budget. When it is embedded in real estate adventure and one loses his job, the financial situation can quickly become inextricable. To avoid the tile, the Walloon and Flemish Regions offer free insurance against involuntary loss of income, and a project is on track in the Brussels Region. A balloon of oxygen for you help to repay your loan mortgage, with certain conditions, of course.

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