Are you looking to buy a low price house for sale in Sri Lanka? Is it your first home? A new home buyer is typically considered to be someone who is purchasing a home for the first time, whether it is with or without the help of reputed real estate companies in Sri Lanka. However, some definitions of a first-time homebuyer may also include individuals who have not owned a home in the past three years, or individuals who have never owned a home before. In some cases, specific programs or incentives may have their own criteria for who qualifies as a first-time homebuyer.
As a new home buyer, it is important to avoid some common pitfalls in order to make a smart and successful purchase. Some of the popular pitfalls to avoid include:
- Not getting pre-approved for a mortgage: It is important to get pre-approved for a mortgage so you know what you can afford and what type of loan you qualify for.
- Failing to consider ongoing expenses: In addition to the purchase price, be aware of ongoing expenses such as property taxes, insurance, maintenance and repairs. For example, buying a luxury house for sale in Kandy may have higher costs involved than buying a basic h
- Overlooking potential issues with the property: Before making an offer, have the property inspected to identify any potential issues that may impact its value.
- Skipping the home inspection: Don't make the mistake of assuming that the property is in good condition just because it looks good. Always get a home inspection before closing.
- Not negotiating: Be prepared to negotiate on price and other terms of the sale. This is especially important in a seller's market.
- Failing to compare loan offers: Shop around and compare loan offers from different lenders to get the best deal.
- Rushing into the purchase: Take your time and don't let anyone pressure you into making a decision too quickly. Make sure you are comfortable with the purchase before you sign the co
By following these tips, you can ensure that you have smooth process when buying your new home, and you won’t face any unpleasant issues later down the road.
