A big or small house? Cash or credit? When looking for a house there are always doubts, that's why it is convenient to have one small guide of recommendations and advice for buy houses and not get lost, both in understanding the procedures such as the steps that we must follow.
Buying a house is the dream of many and can represent the investment of the savings obtained based on a lot of work, so before signing the contract and make the deposit you have to take into account several factors to avoid unnecessary expenses in the future, it is not the same buy some houses for sale in Barcelona, some in Madrid or in a small town. So let's see the recommendations for buying a home .
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In a general way we should follow a series of steps or procedures to be able to acquire a housing in a coherent way.
In the following infographic we list step by step which should be the procedures to acquire a housing or the evolution until the property is in our hands. They are common points in the sale of properties before buying a house:
The image represents a reminder and several tips for buying a house , although some points can be combined, together it must be raise all situations.
These are milestones and questions to ask before buy a flat . Now, let's go step by step to see how to buy a home :
The first thing we should know is how much money we can spend to buy a house. Although apparently this It may be an obvious issue looking at our economic situation, yes that there are two rules that we must follow to be calm throughout future years, be proactive and make calculations based on different possibilities:
These two factors combined are what will determine – in greater extent – the amount of money we can afford to buy our property.
The following graph we can test a general scheme of the expenses in the sale of an apartment . To have exact certainty – expenses may vary according to autonomous communities (Spain) – we should always ask to the bank, the real estate agency or the Notary and that they provide us with a small list where they are reflected:
Three will be the key points through which the money:
Actually, it is to search the Internet for example « home purchase cost simulator » or » calculate housing purchase expenses ” so that we can find a calculator of the fees that we will owe to pay. Remember that you must differentiate between new and second-hand housing, types of housing (Chalet, Apartment... etc), first or second residence, and by Autonomous Communities.
The form of payment is one of the first questions to consider, since it will be the first selection filter. Both The most used forms of payment are:
Although on the Internet we have access to a lot of simulators that tell us how to calculate the price of a flat , chalet, town house, local…etc. We are going to be a little more serious about the real estate market , the The value of a home is officially determined by a document called Appraisal , but we let's extract two values to get an idea.
So let's see the real estate value of a property , that is, the price of a house through an appraisal in a quick format and easy to get:
The official appraisals are carried out by entities accredited by the Bank of Spain, these entities issue quarterly reports of the value per square meter of a zoned property.
We'll go look at the statistics to see how much really costs the property that we want to acquire and have a estimate the value of the price of a home for which the property should be sold property:
The previous graph (They can be consulted from HERE, and they are quarterly under the name "Tinsa IMIE Mercados Locales") indicates the average price per M2 built by Provinces. So to determine what selling price has a home , the estimate would be:
The sale price of a home by Province = (Average price per M2 built x Sup. Built with common of our home)
The document also delves into major cities and their price evolution such as Madrid, Barcelona, Valencia, Seville …etc.
It is important to know the prices of homes by neighborhoods in large cities , as we can see in the image above, buying in Nou Barris is not the same as buying flats for sale in Sarriá, big cities like Barcelona or Madrid there is a significant disparity between the ratio of zones – sale prices.
From the report we can also extract an interesting fact, how long does it take to sell a house for provinces. This can help us in negotiating the purchase of the house if we see that it is there for a long time exposed for sale:
Of interest, see article on how to sell a house faster with Home Staging. There are 33 very good techniques!
We cannot explain the appraisal process of a housing from a technical perspective, but if we can apply what is called the “ comparison method ” which It is part of the report itself. So we will know how much a flat is worth in the neighborhood where we want to acquire the property property.
It roughly consists of collecting 6 properties from the sale in the neighborhood where we want to buy the housing with similar characteristics. And from them we extract the average of the value per m2 built (Euros/m2 built), it is say:
Obviously, the calculations of an appraisal are influenced by others factors (condition of the house, height, age of the building, etc), but for the approximate calculation of the sale of a floor with the previous graph we will have a value pretty close.
Also from the Cadastre portal they offer us in a form quickly a minimum value of properties in Spain, we can look at the article on how to check the minimum price of a house for a quick real estate valuation.
Once the visit is made together with the real estate agency and a series of data has been collected (housing status, needs reforms, check installations, carpentry ... etc) can be have a slight idea of what it would mean to buy the house in question.
However, in this guide to buying a house it should not be forgotten that not all the data that is extracted from the visit are objective and valid to make a decision. So let's go over the highlights of how to buy a house without losing money time:
The neighborhood investigation comes first , in factors such as the type of life that is led in the area, possible negative effects that could not be seen with the simple seen during the visit, such as annoying noises, works, pollution, delinquency or other problems.
This information is easy to obtain, just by asking a little to the neighbors of the area you can know that it is cooked in the neighborhood.
For example; if we have hospitals nearby, shops and supermarkets, schools, metro stops... etc. Important, have good services nearby!... this can determine that house to buy or not.
Community research is the one that must be carried out in the same community of neighbors, from this one obtains information about whether it has problems with the builders, the Town Hall, or simply if it has been made an important spill to correct any reform of the building, since once the house has been acquired, this debt is contracted by the buyer.
Remember, that the neighbors students students or the apartments for tourist rentals, sometimes, because they bring with them quite a lot of noise.
There are a series of documents required when sign a sale of a house . actually these documents will provide us with legal certainty and information detailed about the property; from Scripture, the certificate Cadastral, the certificate of energy efficiency, certificate habitability, simple registry note... etc.
Although both the notary, the real estate agency or the bank They will inform you of the necessary documentation, the following image is a reminder of the relevant documents:
The documentary information, perhaps the most important, of her details are obtained such as the loads that the company has registered farm, debts that weigh or encumber him and are registered in the
The information obtained from the planning is the buildability , occupation, land use, official and private line-ups as well as the funds buildable and building density. In short, data useful to which any dwelling within the area or unit of execution must be adjusted.
Remember that if we proceed to build a house, see the urban planning is very important to take away future headaches.
The nota simple is perhaps the most important part of the house, is the "DNI" of the farm, it details the owners and their coefficient of participation in the same and the title of real right that he owns over the farm, understood as bare ownership, community property, usufruct for life, charges, etc
In addition, valuable information can be obtained such as the use and qualification of the land, meters of construction and charges that burden the farm, such as mortgages, embargoes and others .
The simple note must be paid and requested in the registry of the property of the municipality to which the dwelling belongs in matter and usually takes one to six days as a rule overall.
There are a series of documents that we need to guarantee that the house is bought without economic charges, and they are:
The community certificate is one that guarantees that the property is up to date with payments and does not it will be sold with that load. This is requested at community administrator and, failing that, the president.
The last urban tax receipt must be satisfied by the seller before transferring the housing, and a copy can be obtained from the treasury municipal.
Finally, it is important to also get a Simple copy of the deed of the house , as well we will know what was the last writing value and the meters of the house in deed to compare them with the note simple.
This will be the day that we formalize before a notary definitely the sale of the property. Apart from provide all the documents that we have previously reviewed, we would like to provide an outline of the agents present at the signing of a sale and which are its functions:
Housing is an important investment, therefore, it is must be careful so that this investment is well made and constitutes a contribution to the family patrimony and not an expense unsuccessful, which can only be achieved by analyzing each detail of the purchase consciously.
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