What is a good property?
As with so many things in life, this question will have different answers to different people.
Even so, there are a few rules that will apply in different circumstances.
1. When we are starting out for บ้าน มือสอง the first time in the property game, the first thing to consider is what I expect from the property I intend to buy. Will it be a property that I intend to live in myself, or am I going to let this property? If I do not own a property currently, the first thing to do is buy a property that I can live in, instead of paying off the properties bond I live in for someone else. It would plain and simple not make sense to do this.
2. The first thing to access when deciding on a good property for myself is the following: How much can I afford to spend on the mortgage repayment.
What is available in the market at the price that I can afford? Is the location of the property within my budget in an area that I would be comfortable to live in? If not, look in a different area. Be aware that you can not stay alongside the golf course on a shoestring price. With other words, adjust your area according to your price affordability.
3. Is the area close to amenities such as schools, churches, shopping centres, and place of work? Remember that these amenities will be what a new owner will look for the day you decide to sell your property.
4. How busy is the street that the property is on - a busy street is noisy, and access is not always as easy, and will negatively impact on the price.
5. Is it a corner stand? A corner stand is usually a bit bigger for the same price.
6. If it is a corner stand, can I have another entrance in the other street? If this is possible, an out building can be converted into a small flatlet that can be let to give extra income on the same property.
7. What is the style of the house? Some styles are not at all popular.
8. What is the home built with? Prefab or wooden homes will not be as durable/ popular as a brick and mortar home.
9. Look at the foundations, walls and roof of the house very closely for any defects which would be very expensive if there are any structural problems.
10. What is the condition of the kitchen - the wall tiling, kitchen cabinets and stove? These are of the most expensive finishing to repair or replace in a home.
11. Look at the bathrooms in the house. This is the second most expensive items to repair or replace.
12. What about security in the house. Some areas, states or countries will place a bigger premium on security than others.
13. Fencing of the property is also something to consider. Having privacy and pets to keep in your property would have an effect on the type of property fencing needs.
14. How about the driveway. Has it got paving installed? That can cost a pretty penny to have installed if not already there.
15. What is the garden like? It is not expensive to make and plant a few flowerbeds, but trees and shrubs are expensive, and take long to establish.
After looking at all of the above in a prospective property, you will have to decide what will be acceptable shortcomings, and which will not be. Please remember that there is no such thing as a prefect home. There will always be some shortcomings, even if it only the layout of the home.
The things that have to be repaired in the home will have to be accessed on a cost basis. If a fault will have to be fixed by a contractor, get a quote. If it a small thing like a new coat of paint, and you can do it yourself, it might be easy to add value to your property at a very low cost. Add all the additional costs towards fixing up the property, and deduct it from the purchase price of the property. If the cost is too high or it a too big structural problem then WALK AWAY from the property and look for a more suitable property. It might save you thousands in costs at the end of the day and many headaches as well.
The biggest problem that most first home owners have when buying a home, is not buying with the mind, but rather on emotion which is the worst thing you can do.
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