Purchasing real estate can be exciting, especially if it is your first home. But, you do need to be prepared on the financial front to ensure you do not under or overestimate.
If you purchase one of the many properties for sale in your area, you won’t just have the actual price of the property to pay for. This is the case when buying a property no matter where you are. There are some great deals available, such as the Wallara Waters house and land packages, yet the extra costs with any purchase highlight why it is so crucial to budget effectively, otherwise you could find yourself unable to complete the purchase. Your investment will soon become a liability if you leave out any expenses.
So, let’s take a look at the different costs to bear in mind. You will need to pay the estate agent their fees. The amount you pay depends on the property type. However, three per cent is a typical commission charge. However, when it comes to new builds, four per cent of the council tax valuation of the property is paid to the government. You also need to think about the cost of water, electricity, and other connection fees, as well as insurance costs, and the expense of shipping your furniture.
One expense that a lot of people tend to forget about is the charge they will face from their bank in the form of bank transfer fees for international currencies if you’re purchasing a property abroad. You may find you also need to pay a mortgage broker fee, and you may need the services of a quantity surveyor too.
Choosing An Estate Agency
No matter your reason for purchasing a property, you need a top-quality estate agency.
There are a number of different steps to follow when looking for the best estate agency. Rule number one is to ensure they are not a jack-of-all-trades, and instead, that their specialism is solely property for sale in the area you are considering. After all, there are now a lot of companies that have real estate opportunities in numerous countries. But, if you use the services of one of these firms, it is unlikely they will have the expert knowledge of the location that is needed to ensure everything goes smoothly.
You also need to do a bit of digging regarding the company’s reputation. Read reviews that have been left by past clients on the web so that you can find out what they have had to say. Make sure the team has all of the experience and qualifications you would expect, and that they have dealt with properties for sale time and time before. Of course, you should browse their listings to ensure there is a wide selection of properties on offer and you will not be limited in your choice.
Finally, you should instantly get a feel as to whether the company is right for you or not when you have your first conversation with them.
