Have you been thinking about buying your first property? We know that it is a very important decision and that it involves a lot of bureaucracy, so we leave you some tips to make this process easier and more successful.
1. Make your organization and financial planning: it is fundamental to have your personal and family budget well planned and studied. We suggest that you make simulations with your salary and the amount you can spare for the monthly house payment.
Pay attention to your financial stability, whether you have a secure source of income (such as an employment contract).
You should also take in consideration all the initial and additional costs such as the deed, the property registration, among other taxes that you will have to pay every year.
This point is extremely important in order to adapt the search of properties to your budget and not waste time looking at houses that don't fit in that budget.
2. Evaluate your needs and priorities: make a list with everything you expect your property to have, such as typologies, areas, outdoor space, space to study/work, luminosity and energy efficiency.
3. Evaluate the timing of the purchase: you should take into account the context of the real estate markets, as well as rates that change over time, such as the EURIBOR and the spread.
There are some people who make the best acquisitions in moments of crisis, and others who wait until the "storm passes". Many times those who wait, find themselves with inflated prices due to high demand.
4. Choose your location well: The location is one of the most important points to take into consideration in this process. You should take into account the proximity to important day-to-day services, such as your work or school, gym, banks, hospital, and supermarkets. Next2U guarantees proximity to both essential and non-essential services.
5. Compare credit financing and interest rates: you should negotiate and simulate with several banks as you will get considerably different offers from each one when it comes to monthly repayments, interest, insurance and commissions.
6. Pay attention to all the documentation: the Next2U team has all the conditions for the accompaniment of the legal processes of the property purchase. If you feel the need, hire a lawyer to help you.
You'll need to prepare the necessary documents for the bank to analyze the financial capacity of the future owners and guarantors (IRS declaration, employment contract declaration, etc.) and the documents related to the property in question (land registry certificate, urban land registry, etc.).
If you intend to live or invest near the University Campus of Aveiro, the Next2u Green building is undoubtedly the right choice!