Points To Consider While Buying A House

A house is one of the basic necessities of a man, just like food and clothing. A house provides shelter from all the dangers and calamities of the outside world and is like a safe haven where a family can celebrate the good times and find the courage to recover from the bad times. A house is almost always on top of everyone’s list of things to buy or possess and call it their own. Since buying a house is such an important purchase in the life of most, the decision must not be irrational but a well thought out one taken after considering all the pros and cons.

Points and tips before buying a house

One of the foremost concerns while house hunting is to look for a house that is decent enough to accommodate the family; is conveniently located or at least has facilities, like schools and transportation, close by. And most importantly, it must fit into the budget and not be exorbitantly priced. An option that can help with buying a house close to amenities and still within the budget is to look for apartments off the plan in Gold Coast. This constitutes putting down a percentage of the asking price for the house, usually 5 to 10 percent, as a deposit while the apartment is still being constructed and the remaining to be paid when on the completion of the project or apartment.

This kind of buying off the plan properties seems like a good bet for those looking to buy a house as they can make a purchase on a small deposit that is paid upfront. They can later work at saving and making arrangements for the remaining amount when the construction is completed. This gives them at least a year or two’s time to save for the final purchase price. Usually, the buyer ends up saving a little while purchasing off the plan since there usually is a difference in asking price before and after completion of the project and while making the final settlement. Home buyers settling on purchasing newly constructed property or opting for off the plan ones are also offered an incentive, making the deal sound even more lucrative.

Buyers must ensure that the property they finally obtain possession of has the same floor plan and design as originally planned and promised. Also, while looking to secure a bank loan for the property, it could be a problem as banks look at ready construction and do not consider off the plan projects. Like with any purchase the positives and negatives must be weighed to take advantage of a good prospect or deal and possess a house as envisioned.

Why Renting Is Better Than Purchasing A Home?

Every citizens life goal is to own their own home. Although many people today, own their own homes, some don’t. These people usually stay on rent. Generally people build their own dream houses while some rent a home from someone else. Buying your own home as well as renting your home have their own set of advantages and disadvantages. However looking at both renting has many benefits too than owning a home. Renting has more of an advantage when the economy is poor. Some people find that renting a home is better than buying a house of your own.
Below are few advantages as to why renting is more preferred and a better financial deal than owning your own home.
• No repair bills and no maintenance costs – one of the major advantages for people who are looking houses for rent is that they have no costs on maintenance or to pay off any repair bills. Renting a property gives you this benefit because the landlord of the property is responsible and has to pay for all maintenance and repair costs. People do not have the financial responsibility worry in fixing anything that happened within the property such as roof leaks, if any appliances stop working and so on. Also landlords are responsible for renovation costs too.
• No real estate taxes – people who live in houses for rent, do not have to pay any real estate taxes or any other type of property taxes unlike home owners. This is another major advantage because people can save more money. Usually real estate taxes or property taxes can vary from country to country as well as from the size of the house. This can be a huge financial burden for homeowners.
• Access to amenities – when people rent their homes they have access to amenities than a person buying a house. A financial benefit in renting an apartment usually mid-scale to upscale or a luxury house sometimes can give you the luxury benefits of an in-ground pool, fitness centre or tennis courts. These additional facilities do not carry an extra charge for the renters. However, if you’re a home owner and need these additional amenities then you might need to spend thousands of dollars for installation and maintenance costs.
• No big down payment – another better financial benefit for renters are that they do not have to have a huge down payment amount when they are trying to rent a property. Although, the down payment may vary from property to property renter do not need a big down payment amount.