Buying a home is a huge milestone for anyone, especially first-time homeowners. The phase from sourcing properties to finally saying yes to that perfect property should be exciting. However, it can easily become daunting when the right things are not done.
It is essential that you have as much knowledge as you can, about the property, the property location, financing, and the housing market to avoid making mistakes and disappointments.
To ensure that you are making the right decision, here are five important questions to ask as a first-time homeowner before saying yes to a property:
Can I afford this Property?
Buying a property requires a huge financial commitment. As such, this process requires a close assessment of your financial situation, which will lead to the decision on how to finance your property purchase.
It is also important to ask relevant questions regarding the additional costs of owning that property. Additional costs include: closing costs, property taxes, legal fees, insurance, etc.
Is there a financing plan available?
After having a clear sense of how much the property would cost, the next step would be to decide on a plan to finance this investment. Understand the financial options available to you. Are you eligible for a mortgage loan or can you finance it with your income over time.
Thinkmint Nigeria provides adequate property financing options to first-time homeowners via flexible payment plans which involves payment with little deposits over an extended period, and mortgage loan processing. Get a unit of A-Residences –3 Bedroom Apartments and 4 Bedroom Semi-detached duplex + BQ in Aguda Surulere with payment plan of 21 Months tenure.
What kind of property is right for me?
Purchasing your first home is a big commitment. Besides considering all the many costs of owning a home, you also need to consider what kind of property is right for you and your family.
For example, newly married couples prefer to buy 2 bedroom apartments –because they tend to be more affordable, and adequate to begin life as a family. This 2 bedroom apartment in Ologolo Lekki is an excellent fit for first-time homebuyers. See Ruby 3 Apartments here.
Before your home search, research the different types of properties and the costs associated with them all. Pick an option that aligns with your finances and preference.
What features does the property have?
As a first-time homeowner, you must decide on the features you require in your home even before you begin the home search process. Have a checklist of features that are must-haves and others that can be substituted.
Check out this 4 Bedroom Maisonette in a class-of-its-own; situated in GRA Ikeja. This property is a masterpiece with ultramodern features that will check your boxes. Learn more about Kings Court here.
Is the property in a good location?
The location of a property is just as important as the property itself. Research the neighborhood to get a sense of the community and the amenities obtainable. For developing neighborhoods, find out the proposed projects and planned developments along that path.
Epe is one of the fastest-growing cities in Lagos, Nigeria with several top-planned projects around the area. Book a space in Lagos next big thing now. Start with Ashborne Gardens here.
Thinkmint Nigeria remains the best plug for your land and off-plan property deals. To schedule an inspection, kindly contact us on 0809 784 5065 or visit thinkmint.ng/buyrealestate.