Buying a house At First Time

The transaction of buying and selling a house is considered a rather risky operation. It is associated with significant financial costs, which attracts fraudsters and simply not decent owners. The question of how to buy a house requires a carefully considered approach and deserves special attention.

Where to look for a house to buy?

The first task arising before the buyer: where to look for the right object for purchase? If with the geographical location everything is clear in advance, then the question of its category should be solved taking into account the specific circumstances.

Primary real estate market

The primary real estate market refers to new homes when the buyer becomes the first owner. The seller is usually a real estate developer. The buyer orders construction on a specific project or chooses from already completed options that have never been occupied. Several variants of primary housing are possible:

A new custom-built cottage. This is the most expensive option, when the developer builds “for you” According to a specific project.
Houses built specifically for sale. Usually the developer builds several houses at once at his discretion on the allotted plot of land for housing construction, and buyers can choose their favorite housing. Unfinished or planned for construction housing. In this case, the purchase price is significantly reduced, because the buyer contributes his money directly to the construction. It is possible to move into such a house only after 1-2 years.

Thus, in the primary real estate market it is possible to buy a private house that has never been in use and is sold by the developer. These objects have not been subjected to natural wear and tear and you can count on an extended service life. At the same time, they are not tested in operation, and therefore will have to check the quality of construction especially carefully.

Secondary real estate market

Secondary housing are properties that have been in use and are being sold by the property owner. On the one hand, they are houses that have already been lived in. Once in them, you can assess the degree of comfort and decide what changes need to be made after the purchase. Factors such as the date of construction, overhaul, actual conditions and the period of operation become important.

The main advantage of “secondary” – low cost compared to primary housing. However, it should be remembered that there is an increased risk of acquiring together with the housing and additional problems. The house may be a pledge on a loan, have encumbrances by the court, have other owners, etc. All this requires a thorough check of the entire background of the property.

5 steps to buying a house

After deciding where to look for a house, you can proceed to the next steps of buying a house. This responsible endeavor involves several important steps that must be followed to ensure the right choice.

Step 1: Determining location and cost

The choice of the area of residence has an individual character. Someone gives priority to the issue of organizing their own business directly on their plot, some people seek to be closer to the city center, and others, on the contrary, to escape away from the bustle, to nature.

Before you start looking for the right housing, you need to decide on its price. It is necessary to soberly assess your financial possibilities and determine the upper price limit. You can think about a mortgage loan, attracting maternity capital and other sources of financing the purchase. This will allow you to raise the price bar.

Step 2: Search for listings

The most affordable option for finding a house to buy is to study real estate ads. They can be found on the Internet, in the media, on special bulletin boards and even on poles and fences. They are advertised by homeowners themselves, private brokers and real estate agencies. The last option allows you to get rid of the problems with the registration, but will cost more due to accruals for the service.

One of the best options is to deal directly with the owner of the house. With him you can haggle, discuss important nuances of living conditions and features of the neighborhood. It is important to really assess the value of the offer. Excessively cheap housing should be wary. These may be houses with a poor prehistory, with defects in construction, dilapidated or too remote. It is necessary to choose average prices.

Step 3: Analyzing options

An important step – viewing the favorite option after the phone conversation. It is necessary to visit the object in person, paying attention to all the details, starting from the approaches to the house and ending with the utility rooms. It should be understood that the house was specially prepared for inspection by the buyer, and therefore there may be problem areas well disguised.

A thorough visual inspection is necessary. Do not hesitate to touch the walls and supporting structures with your hands. It is necessary to ask specific questions about the technical condition and living conditions. Try to find out the reasons for selling the house and its shortcomings. Help to make a general picture of the object and conversations with neighbors. It is necessary to find out more about those who live nearby.

Step 4: Check the documents

If the house was prepared for sale, then the whole set of necessary documents should be ready. It is necessary to check not only their complete completeness, but also their reliability. All documents should be carefully checked. There should not be any errors in them. Especially important, exclude the presence of forged certificates, copies and extracts. Documents should clearly confirm the rights of the owner, state registration, technical condition. If the buyer is not sure of his legal knowledge, you should engage professionals – lawyers or realtors – to check.

Step 5: Closing the deal

The final step is the conclusion of the transaction. At this stage it is necessary to solve the question of ]how to draw up the sale and purchase of a house ]correctly and in accordance with the Laws of the Russian Federation. The transfer of ownership rights is carried out on the basis of the Purchase and Sale Agreement. It reflects all the agreed points – price, technical condition, terms of transfer and settlement, etc.

Before signing the Agreement, it is recommended to show it to a professional lawyer to assess the correctness of its drafting. Any errors may cause problems with further state registration and lead to litigation. The transaction is formalized with the participation of the state registrar (notary). Payment should be made in front of witnesses.

Peculiarities of buying a house with maternity capital

One of the legal options for providing financing for the purchase of a house is the use of maternity capital. The certificate, issued by the state at the birth of a second child, is often used to improve housing conditions. When using maternity capital to purchase real estate, certain problems arise:

To use the maternity certificate, the approval of the Pension Fund of the Russian Federation (PF RF) is required. The buyer must apply for such a transaction. The seller of the house is reluctant to receive payment in this way. The money is sent to his account by the PFRF after approval, and this takes time. To the housing paid by the certificate, there are increased requirements. The depreciation of the house should not exceed 50%.

The use of maternity capital for the purchase of real estate is stipulated by law. As a rule, the amount of maternity capital is not enough to pay the entire cost of the house, but it can serve as a down payment for a mortgage loan. This will facilitate further repayment of the debt to the bank.

How to inspect a house properly – what to look out for
A house is bought for a long time and should provide the most comfortable living. Inspection of its technical condition requires special care. The best way to assess the quality of the house is to engage a professional expert – a builder or a realtor with experience in assessing buildings. Attention should be paid to a number of key points.

Material of construction

The reliability of the entire structure, its durability and indoor comfort are determined by the construction and material of the walls of the house. This determines the bearing capacity, strength, shrinkage, noise and heat insulation properties. The quality of waterproofing, insulation is checked.