The ultimate first ten steps for

first time buyers


by Blanca Bastida, Agent, Coldwell Banker
Are you tired of paying the rent and can finally buy a house? Congratulations! You might not know where to begin, though. Before making a hasty decision, make sure to read through the following advices to ensure that you chose the best option available.

1.       Choose a property in which you can live peacefully for the next 5 years, as this is the average time in which people get their investment back.

2.       Choose a zone that has shown to maintain or increase the value of the properties in it. This will keep your investment safe throughout the years.

3.       Check that the property you’re about to purchase is in perfect conditions. If you are not completely happy with its presentation or if it has important details that need to be fixed, you have the right to negotiate their repair before the sale is completed. You can even hire professional inspecting services that can tell you exactly what needs to be repaired in a building.

4.       Look into the area in which the property is located and the people who live nearby.

·                                        Families?
·                                        Students?
·                                        Retirees?
·                                        High traffic area?
·                                        Private community?

This will give you an idea of the lifestyle that prevails in this particular region, and you will be able to picture how you will feel when you actually live there.

 

5.       Although it might seem obvious, there are certain areas (especially in small communities like Pescadero and Cerritos on the Pacific Coast, or La Ribera and Los Barriles on the Sea of Cortez) that do not have all the basic public services like electricity, running water or waste collection. Therefore, it is important that you ask about the services provided in the community, as well as the alternative options available in the area (septic tank, solar panels, etc).

6.       If the property is found within a private community, it is important for you to assess the state or condition of the common areas. The care, cleanliness, and maintenance of the amenities denote a good administration service.

7.       Residential communities often have maintenance fees (HOA or Strata). Be aware of the amount of the fee and the services included because when you acquire the property you will also acquire the commitment to pay this fee and follow their rules and regulations.

8.       Be aware of the property tax that will be have to pay yearly.

9.       Once the sale is done, it is very important that you register the deed to your new property, as this legal document confirms that you are the owner of the property. Do not postpone it, the sooner you get this fixed, the better.

10.   Finally, I recommend that you seek advice with a real estate professional who can provide you with options, answer you questions, and support you throughout the buying process. The Ultimate 10 Steps First-Time Home Buyers Should Follow

 For more information contact Blanca Bastida of Coldwell Banker, Cel. 624 109-8335,