Many people turn to me to ask what is most important when buying a house. In this article we indicate 5 precautions to be taken when buying a house.
The answer is not simple, because buying a house is undoubtedly one of the most important moments in people’s lives, whether it’s a purchase alone or with your partner.
First of all you have to define the city where you intend to spend the next few years. Take into account the ease of public transportation in the area, since using it for daily commuting can represent a substantial savings for the family. Value the presence of services and commerce in the area because it will save your family time. If you are thinking of starting a family in the short or medium term or if you have children, check the proximity of the school network and support services such as day care centers, study rooms, etc.
Secondly, you must define a maximum budget that you are available to pay for the property, considering what amount you have available through your own capital and what is the maximum amount you intend to contract as a bank loan.Do not forget to put the values that you will have to spend with the other costs of buying a house, which are the amount to pay for the notarial act (Deed, records, etc.) and also the respective taxes.
The choice of the bank, in case you take out a loan for the purchase is a fundamental aspect. Remember that in doing so you choose a partner for life, since most loans last between 20 and 40 years. Usually the bank you work with will certainly give you the best conditions, but this is not always the case. Consult at least 3 institutions and ask for simulations.
Choosing a credible and reputable broker is also an extremely important step. Unfortunately, there are unpleasant experiences that are often the result of the mediator’s lack of experience but that, in the end, always have direct consequences for the buyer. An intermediary must have a knowledge of the market but also of the legal aspects and above all be a very serious person who safeguards your interests at the time of purchase.
3. Documentation of the property
Before the purchase ask for access to the property’s documentation:
Permanent Certificate that must be less than 6 months old where you will verify if there are encumbrances in the property as well as the areas of the same;
Certificate of areas requested at the City Hall where you will confirm the areas of the property especially when there are terraces or backyards;
Caderneta Predial obtained from the Finanças;
Previously ask for a declaration of debts or commitments to the condominium. Do not forget that the debts to the condominium accompany the fraction, that is, they are the only debts that, if not paid by the previous owner, can be paid by you.
4. General condition of the house
If you choose to buy a used house, another care to take into account when buying a house is the general state of the house. Check aspects such as:
- Outlets – loose outlets can indicate a poor general condition of the home’s electrical system;
- Faucets – do they drip, do they shake? Check the water meter as it can confirm the state of the plumbing.
- Walls – signs of humidity that may indicate infiltrations;
- Gas (special attention to this topic);
- Windows – one of the most important aspects of a house because a good window represents a great saving in terms of energy consumption for heating.
- If the house was recently remodeled, the same care should be taken because, unfortunately, there are countless unscrupulous companies that sell “a pig in a poke” by doing remodeling “from the ground up” that result in houses that are very beautiful on the outside but, sometimes, are real traps.
Take into account the insurance values because they usually have a big weight in the monthly payment. There are many variations from bank to bank. If you are not satisfied with the proposed values, consult an insurance company because you may be able to better manage the value of the insurance.
Finally, remember that buying a house is the moment when you will spend the largest amount of money in your whole life. Is it worthwhile to ponder this act well, evaluating, beforehand, the precautions to be taken when buying a house? Or are you going to make an ill-considered purchase without safeguarding that you are well surrounded by each of those involved: bank, insurance company, mediator?