Buying a new home is not a decision that can be taken lightly. Even though for many people to buy a home is a huge cost, it also represents an important achievement that gives stability. We give some tips for this life chaging process:
1. Before buying your new home you need to know and study your financial capacity. Make a comparison between your income and expenses to determine your debt capacity and on what terms could you pay the debt.
2. Knowing what kind of home you want is a key step. Make sure you have all the information about location, access roads, type of construction, utilities and parking, among others. This way, you can define the options of housing projects and choose the one that fits your budget.
3. Have very clear all information regarding financing for your new home. Check carefully interest rates that offer different financial entities and analyze which product is the best for you.
4. There are two stages when buying a property; the first is the down payment that represents nearly the 30% of the total value of the property, and the second, the payment of the remaining 70%. We recommend that you know with certainty the date of delivery of the property to calculate the time needed to raise the money.
5. Don`t forget to separate an additional sum of money for other costs that arise when buying a home. Among these are the credit study, the appraisal, the study of titles, registration fees, taxes, and others.