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Where do I begin the process of looking for a property?
You can start by establishing priorities in Location, Personal preference and Budget. As you consider these areas, do a little research of your own by looking through magazines for ideas about current prices and property features. |
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Should I appoint a real estate agent?
Buying property is certainly one of the most rewarding experiences most of us ever have; it's also one of the most challenging. Not to mention if you are buying your first property. So, one clear advantage of enlisting the help of a real estate sales agent is simply that you don't have to “do it alone”. A good real estate sales agent has the training, the know-how, and the experience to help you through each step of the process, and make the process of finding, buying and moving into your new home as smooth, quick and enjoyable as it can be. |
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How do I know whether I can afford for a property?
Talk to a real estate sales agent as he/she is committed to honestly and responsibly working with you to determine your affortable price range. Many financing options are available nowadays. The real estate sales agent will assist to find an option that fits your budget. |
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What should I consider when I am deciding which neighbourhood my property is?
Good amenities, nice parks, recreational facilities, convenient shopping and transportation – these are few considerations that are important to many people. And there is no better source of information than real estate sales agents. |
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When I start visiting properties, what should I do?
As you look at each property, pay close attention to these important considerations:
- Is the space enough for you now and in the near future?
- Is the property floor plan suitable for you?
- Will you have to do any major renovation?
- How much maintenance and /or decoration will you need to do right away? Later?
- Is there any water seepage problem?
Bring your own notebook and pen for note-taking and measuring tape, if floor plans are not available. Compass too if you would like to determine the direction the property is facing. Be prepared to “snoop around” a little. After all, you want to know as mush as possible about the property you buy. |
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Is an older property as good a value as a new one?
It's a matter of personal preference. Both new and older properties offer distinct advantages, depending upon your unique taste and lifestyle. With the combined problems of land scarcity and population growth, today's properties are usually built on smaller plots, unlike most properties built years ago, which offer more living space. The emphasis for older properties was on the interior layout unlike new ones which focus more on the external designs.
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How do I know whether I am getting the best value for my money?
In most cases, a valuation is the best way to tell if a property is priced fairly. The transacted prices and asking prices of comparable properties nearby are used as a guide to determine its value. When you apply for a mortgage loan, the lender will have a professional real estate valuer perform a valuation of the property. You may also call ERA sales agents and ask for a Comparative Market Analysis (CMA) of your property. The analysis will give you a realistic figure based on the most salient points of the real estate market. |
