6 Tips for those buying a property for the first time

Are you already with your decorator's hat? Do you see yourself living in a house of your own? The feeling of getting the key to your home, for the first time, is indescribable. However, the decision to buy a house has to be exceptionally well thought out as it is a commitment for life. Casas do Barlavento has some tips so that you are well prepared for this big step:

Right time for home purchase

The market is floating, however, if you consider that Euribor is at historic lows, as well as some reductions in bank spreads, perhaps now is an opportunity to consider. To prevent fluctuations in Euribor rates, you can always choose a fixed rate loan, so you will always know how much you can count on.

Long-term thinking

Obviously, you are buying a house to live in but think about the possibility of wanting to sell the property in the future. In the long term, it should be a house with potential for an increase in value, that is,  good accessibility and location, for example.

Compare as much as possible when choosing credit loans

When comparing simulations of several banking institutions, it is necessary to pay attention to several elements: in addition to the APR and the total amount attributed, it is also required to rely on the spread and the monthly payment. In fact, a proposals value can vary significantly from bank to bank.

Build an emergency fund

You have to be prepared for casualties. Imagine losing your primary source of income? It is essential to have an emergency fund to cover the monthly instalments of the home loan without getting into trouble.

Consider contacting an agency

A real estate agency can advise and guide you in key areas so you get a good deal. It can free you from the stress of the whole process and ensure that everything runs smoothly.

Pay attention to additional expenses

Don’t focus only on the property purchase price. One can not forget all other costs related to the purchase of a house, such as taxes and fees payable at the time of deed and commissions associated with housing credit.

Have you read all the tips and feel confident to purchase your dream? So, we are waiting for you to contact us. We will be happy to assist you.