{"id":256,"date":"2016-07-27T13:35:56","date_gmt":"2016-07-27T13:35:56","guid":{"rendered":"https:\/\/realestatepowerhouse.com.ng\/en\/?p=256"},"modified":"2016-07-27T13:35:56","modified_gmt":"2016-07-27T13:35:56","slug":"how-to-make-a-smart-real-estate-purchase","status":"publish","type":"post","link":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/2016\/07\/27\/how-to-make-a-smart-real-estate-purchase\/","title":{"rendered":"How to Make a Smart Real Estate Purchase"},"content":{"rendered":"<p>We\u00e2\u20ac\u2122ve all heard the horror stories \u00e2\u20ac\u201c people paying way too much for a house, not getting an inspection and then finding a million (expensive) problems with the place.<\/p>\n<p>Here are top five tips for making a smart real estate purchase so you don\u00e2\u20ac\u2122t get burned!<\/p>\n<ul>\n<li><strong>Stick to Your Budget<\/strong><br \/>\nIt\u00e2\u20ac\u2122s easy to get carried away here, especially if you make the mistake of looking at houses outside your price range. The important part is to have a plan. Don\u00e2\u20ac\u2122t just think about your mortgage payments every month; also think about your monthly carrying cost and be honest about your lifestyle. Consider how much you spend every month on eating out, clothing, etc. There\u00e2\u20ac\u2122s nothing worse than being house poor because you weren\u00e2\u20ac\u2122t honest about your spending habits.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Don\u00e2\u20ac\u2122t be Afraid to Walk Away<\/strong><br \/>\nA house is an emotional purchase, since it\u00e2\u20ac\u2122s where you\u00e2\u20ac\u2122ll be living, raising your children and making a home for yourself. But it\u00e2\u20ac\u2122s crucial to keep emotions out of the equation as much as possible. You should love your house, but you should love it because it\u00e2\u20ac\u2122s in good condition and because the numbers work. Always get a home inspection and if you can\u00e2\u20ac\u2122t afford it (or the work it requires), walk away!<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Give Every House a Chance<\/strong><br \/>\nAs do most people now, most real estate properties are browsed online, but you can\u00e2\u20ac\u2122t always judge a house by the virtual tour \u00e2\u20ac\u201c good or bad. If you see something online and it has bad pictures (or no pictures) but it\u00e2\u20ac\u2122s in the right neighbourhood or in your price range, go look at it! Chances are you can get a good deal because so many people will skip it without photos online.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Think Long-Term<\/strong><br \/>\nBefore you jump into a real estate purchase, ask yourself: \u00e2\u20ac\u0153What is the purpose of this property for the next 5-10 years?\u00e2\u20ac\u009d Depending on your mortgage, you may have to lock in for a certain number of years, and if you think you\u00e2\u20ac\u2122ll be moving in less than 5 years, I\u00e2\u20ac\u2122d suggest looking at alternatives. You never want to be forced into selling your house.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Have a Support System<\/strong><br \/>\nHaving a real estate agent who understands your financial and personal situation is key, and great advice from a mortgage specialist and lawyer can be invaluable to the home-buying process. But what many people forget is to have a personal support system in place when they go house hunting. Advice from those close to you \u00e2\u20ac\u201c family members, a partner, friends \u00e2\u20ac\u201c is just as important to help keep you on track and avoid getting carried away. It\u00e2\u20ac\u2122s easy to get caught up in the excitement of buying a house, so having the personal support will keep you grounded.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>We\u00e2\u20ac\u2122ve all heard the horror stories \u00e2\u20ac\u201c people paying way too much for a house, not getting an inspection and then finding a million (expensive) problems with the place. Here are top five tips for making a smart real estate purchase so you don\u00e2\u20ac\u2122t get burned! Stick to Your Budget It\u00e2\u20ac\u2122s easy to get carried away here, especially if you make the mistake of looking at houses outside your price range. The important part is to have a plan. Don\u00e2\u20ac\u2122t just think about your mortgage payments every month; also think about your monthly carrying cost and be honest about your lifestyle. Consider how much you spend every month on eating out, clothing, etc. There\u00e2\u20ac\u2122s nothing worse than being house poor because you weren\u00e2\u20ac\u2122t honest about your spending habits. &nbsp; Don\u00e2\u20ac\u2122t be Afraid to Walk Away A house is an emotional purchase, since it\u00e2\u20ac\u2122s where you\u00e2\u20ac\u2122ll be living, raising your children [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"jetpack_featured_media_url":"https:\/\/realestatepowerhouse.com.ng\/en\/wp-content\/uploads\/2016\/07\/smart.jpg","_links":{"self":[{"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/posts\/256"}],"collection":[{"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/comments?post=256"}],"version-history":[{"count":1,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/posts\/256\/revisions"}],"predecessor-version":[{"id":259,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/posts\/256\/revisions\/259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/media\/258"}],"wp:attachment":[{"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/media?parent=256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/categories?post=256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/realestatepowerhouse.com.ng\/en\/index.php\/wp-json\/wp\/v2\/tags?post=256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}