Common mistakes when buying real estate

Here you have already accumulated a solid pile of money and are finally ready to spend it. Having at least an extra $100,000 under the mattress, whether you like it or not, you start thinking about real estate. First of all, it is a reliable currency, which is harder to find. Well, secondly, it is also a good way to provide yourself with a stable profit without the risk of losing your investment due to failure or competition. The rental income under any conditions will drip into your pocket, while at the same time square meters become more expensive and add extra zeros to your potential capital. Making money without doing anything is such a sweet dream that as soon as it floats on the horizon, everything else is forgotten and vigilance is lost. That's why we're here to remind you of possible mistakes when buying real estate that can get in the way of your plans.

Don't miss these mistakes

1. Checking only the most important documents. Passport, identification code, power law and enough of that good. Nothing like that, because this is just the beginning. It is worth carefully studying the technical passport of the house, documents for the land plot, the presence of encumbrances or arrests, etc. You can't even imagine what little things can spoil the most successful acquisition in a matter of minutes. There are a number of open resources for real estate inspection, which will not allow problems to hide from your eyes. Be patient and set aside enough time so you don't regret your haste later.
2. Inattentive verification of documents. Already the second point, but is it all about the same thing? Not quite. When concluding the contract, it is worth re-reading it one more time to make sure that all oral agreements have been accurately conveyed and that there are no disputed points. Read between the lines and don't miss the fine print, because carelessness can cost money.
3. Careless study of the market. If you want to buy a profitable and promising object, it is important to analyze trends and take into account future forecasts. Also, don't be too lazy to analyze the prices for similar objects. If you are not sure that the apartment or house is worth the amount that is being asked for it, spend a few extra hryvnias on real estate appraisal, so as not to overpay several thousand dollars.
4. Ignorance of the area. Look at the chosen one area on the map and visit him personally. Necessary infrastructure facilities should be nearby: supermarkets and household goods stores, pharmacies and medical institutions, schools and kindergartens, parks and squares. Transportation also plays a big role. The chosen location should be convenient for living, because not only your comfort depends on the quality of life, but also the cost of rent.
5. Superficial inspection. Be sure to personally visit the object and check it out its. Pay attention to the appearance and serviceability of the equipment. It will not be superfluous to conduct a technical inspection, especially if we are talking about a private house. Wiring or plumbing problems can cost you more than the house itself.
6. Lack of attention to the payment of utility services debts, which together with the accommodation can pass to the new owner. Request recent payments and check for debts. In some cases, buyers agree to sign the agreement on the condition that the price will be reduced by the amount of the debt, which they will later pay on their own.
7. Underestimation of additional costs for property maintenance. When buying expensive housing, not every investor thinks about all aspects of the future. Most immediately start counting the imaginary profit and completely forget about the expenses. So that the bill for utilities and other services does not become a financial shock for you, find out the average cost of maintaining a home, and also take into account additional costs for insurance, etc.
8. Allocation of an insufficient amount for incidental expenses of the first necessity. This time we are talking about taxes. When choosing real estate, investors consider options that fit their budget. However, your savings should cover not only the purchase of the object, but also the taxes on its purchase.
9. Rejection of the help of specialists. Many problems arise with rent without intermediaries, and not to mention the purchase. You are putting yourself and your money at risk, and in addition, you are also wasting precious time on useless searches and viewing a bunch of unsuitable options.

Surprisingly, there is one common solution for all these problems - to turn to THE Capital real estate agency for help. Take one small step to quickly overcome all obstacles on the way to your dream property.