Buying a house or an apartment represents a significant investment, a big step in your life, both financially and in terms of time and effort. It can quickly become a stressful time, unless you know and understand the different steps that will mark out your acquisition project.
To better prepare yourself, here are the steps to follow to reach your real estate purchase objective serenely.
1. Determine the type of property you wish to acquire
The first step is to know what you want. Carefully define the type of property that suits you and your life goals. Are you looking for a piece of land, a villa, an apartment, a commercial space? How many rooms are you looking for? What amenities would you like to find there?
It is important to answer these questions in order to refine your search later and avoid getting lost.
2. Define your perimeter
Between secluded and quiet neighborhoods, in the city center, by the sea, etc. Several options are available to you. It all depends on the type of property you want, your preferences, the use you intend to make of it, the proximity of shops, schools and other facilities, etc. Take all these aspects into account when deciding on the area that suits you best.
3. Estimate your budget
Knowing it allows you to control it in order not to have bad surprises or disappointments during your property searches. You must ask yourself the question of which method of financing would be preferable according to your real estate, financial assets, family situation and define your budget accordingly. This step is decisive for the rest of the project and its smooth running. Different financing options such as your own funds, the use of different bank loans and other methods, allow you to acquire a property. It is up to you to make a choice between the different options you have.
4. Determine the purpose of your purchase
Primary or secondary residence? Land reserve ? Rental investment? What will the property you are buying be used for? Permanent or occasional residence? Renting out for additional income? Saving for future construction or sale? Depending on the objective, the approach will be different and will direct your research differently.
5. Evaluate the market
Once you have a budget and a type of purchase in mind, you need to check if they are in line with the market, that means if this budget allows you to acquire this type of property. If your budget does not allow you to find a property matching your criteria, you will have to think about your priorities (location, size of the property, standing, etc.) and redefine your criteria. We advise you to consult real estate agents who will be able to help you identify properties that fit your budget.
6. Search for a buying opportunity
Today, the reflex is to turn to ad sites and social networks. It is true that this allows, not only to have an idea of the market, but also a lot of choices. However, the research is time consuming because you have to browse through multiple websites and social network pages, call the contacts of each ad that seems interesting and organize visits with different interlocutors. This process can be simplified by choosing one or more agencies to accompany you in your search.
7. Make a purchase offer
You have finally found the perfect property and wish to acquire it. In order not to lose this opportunity, you must formalize a purchase offer. To this end, several options are available to you: – An agency accompanies you? It takes care of everything and guides you through this step;
- You have found a property on your own or with an independent intermediary? You can consult your notary or choose one to accompany you and secure your transaction;
- You are in direct contact with the owner of the premises? Make your offer in writing. Once validated by the owner (preferably in writing as well), you can go to your notary.
So, here is, step by step, how to acquire your property hassle-free. Our agency would be delighted to accompany you in this process, contact us and tell us about your project to benefit from a complete and adapted accompaniment!