Tips For Buying Houses With A Reasonable Price
Recommendations and useful tips to buy homes or flats and not lose you. Procedures step by step, how to calculate the cost of a house, necessary documentation of housing and much more.
Useful Tips For Buying Houses
A large or small house? Cash or credit? When looking for a home there are always doubts, so it is advisable to have a little guide of recommendations and advice to buy houses and not get lost, both in understanding the procedures and the steps that we must follow.
Buying a house is the dream of many and can represent the investment of the savings obtained from a lot of work, so before signing the contract and making the deposit you have to take into account various
factors to avoid unnecessary expenses in the future, It is not the same to buy some houses for sale in Northern Virginia, some in Madrid or a small town. So let’s see the recommendations to buy a home.
How Much Can I Pay To Buy A Home?
The first thing we should know is how much money we can spend to buy a house. Although apparently, this can be a prominent issue looking at our economic situation, yes there are two rules that we must follow to be calm throughout the future years, be proactive and make calculations depending on different possibilities:
The capacity of indebtedness: It is the quota that we can pay every month, which will be calculated based
on the monthly net income (It is the base salary, removing diets, commissions or supplements).
The banks and real estate companies, which know a lot about the subject, recommend not to exceed 35% of the base salary.
The amount of the loan: Banks usually grant between 70 and 80% of the appraised value of the home. In some cases, this fee may be higher if, for example, we have guarantors, we contribute a high sum of money at the beginning of the sale, or we have a fixed contract. This is an aspect that should be discussed personally with the bank in the case of requesting a mortgage loan.These two factors combined are what will determine – to a greater extent – the amount of money we can assume to buy our property.
What Are The Expenses To Buy A House
The following graph we can test a generalist scheme of costs in the purchase of a floor. To have an exact certainty – the prices may vary according to autonomous communities (Northern Virginia) – we must always ask the bank, the real estate or the Notary and we provide a small list where they are reflected:
Three Will Be The Key Points Where The Money Will Go:
Mortgage Expenses: Commission opening, appraisal, notary, insurance … etc.
Expenses Purchase: For new or used housing (Secondhand) where we will see the Tax of documented legal acts or transmissions, VAT … .etc.
Ordinary Expenses: Notary, registry, agency … etc.
In fact, it is to search the Internet for example “simulator expenses purchase housing ” or ” calculate expenses purchase housing ” so that we can find a calculator of the fees that we will have to pay. Remember that you must differentiate between new and second-hand housing, housing types (Chalet, Apartment … etc.), first residence or second, and by Autonomous Communities.
The form of payment is one of the first questions to consider since it will be the first selection filter. The two most used forms of payment are: Payment or deposit in a single exhibition. Perhaps the preferred form of payment by the majority, but that can not always be carried out the question of … Can you pay for a house in cash? Of course, the benefits that it presents are the immediacy with which the property is obtained in its entirety, the avoidance of making payments for long periods of time and the generation of interest for the delay in aid payments.
Bank credit. It is one of the most common ways to buy a home. The benefits of this purchase system are that a certain number of payments is established for a specific time, adequate insurance can be negotiated at the time of purchase, and the exact payment amount is determined.
How To Calculate The Price Of A House
Although on the Internet we have access to a lot of simulators that tell us how to calculate the cost of a flat, chalet, townhouse, premises … etc. We are going to be a little more serious about the real estate market, the value of a house is determined officially by a document called Charge, but we are going to extract two values to have an idea: