Before signing a purchase agreement, it also makes sense to prepare a checklist. It should at least contain the following points:
A realistic budget prepared in collaboration with the bank. A rough rule of thumb says people should buy a maximum of 3.5 times more housing than they have in annual income. A young family with $ 600,000 in annual income can thus buy housing for approx. $ 2.1 million. Finding homes for sale in Placerville is essential here.
If you have debt, it must be deducted. But if you have a savings of maybe $ 400,000, it must be added, and then the family can afford to house of $ 2.5 million. A couple should also preferably have $ 13,000 for consumption when all fixed expenses are paid. Single people must have about $ 9,000.
But it is also a good idea to look into the future a bit. For example, if you have a good education and a good job, you can probably expect your salary to rise in the future. And then you might as well buy a home for $ 3.0 million or more right away if that’s what you dream of. It is because it is furiously expensive to buy housing, so the best thing in the long term is to do the right thing from the start.
But many individual conditions will always differ from any general rule. Some may live on a rock. Others feel they save even though there is red wine and steaks on the dinner table every day, and the family is on several annual trips abroad. Next, it is important to ensure that there are no special serviettes on the property, which can be an obstacle to renovations, replacements, plantings, etc.
Also, remember to make the reservation agreement that errors and deficiencies found before the takeover are rectified by the seller at his own expense and before the takeover, and check the condition report carefully. The seller pays the condition report and when the buyer has seen this together with an offer for buying insurance, the seller is exempt from compensating for hidden errors and defects after the transaction. If you buy a house without a condition report, the seller can be held responsible for up to 20 years if faults, damage or defects occur after the transaction. However, this does not apply if you buy at a forced auction or from a death estate.
However, the condition report is not a guarantee that the property is flawless. One construction expert has only pointed out what has been seen. But you can’t separate a house and see, for example, if there are hidden faults on pipes, drains, ceilings or the like. Therefore, it may be a good idea to take out insurance against defects and defects that are discovered after the trade. Buyer insurance is called this. Also, remember to get a commitment from the bank that it will lend money for the payment or redemption of expensive mortgage letters, if necessary.
The smart home buyer also only takes over his new home when the old one has been sold for sure, so you do not risk sitting with double rent. Finally, an energy report should also be requested if it is not available.