A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • 5 Big Problems Faced by Home Buyers

    Buying a house is not a cakewalk. There are many questions one has to answer before finalising on a house that they would love to make it their own. Starting from not-so-accessible location to demanding owners selling it, there are many problems a home buyer faces while searching for a dream house. And not to forget, there will a mountain of paperwork to check, verify, and sign and the pressure of arranging the required down payment.

    Top Problems a Typical Home Buyer Faces

    1. Real estate agent versus online advertisements: As soon one decides to buy a house, the first immediate question is if a real estate agent is required or not. Many prefer going online and searching for houses for sale as they can avoid brokerage and they can find a plethora of beautiful houses available for every budget. One can also play with the filters and refine their search to find a perfect house that suits all their requirements. However, there are many who still prefer the conservative way and choose agents to show them houses and are willing to pay a huge brokerage fee.
    2. Location of the house: One of the main hurdles a home buyer faces is deciding the location of the house. There are many advices available online on how to choose the ideal location. However, there is no universal rule. Few home buyers prefer picking up an affordable and spacious house on the outskirts of the city than investing a massive amount for a small apartment in a prime location within the city. If you are planning to buy a house, you will have to carefully choose a location that will suit your needs.
    3. Not-so-honest owners: When buying a house many fear fake owners. There are many house owners who are not honest when they sell their property. One of the biggest fear any home buyer will have is if the seller is being honest and giving all the required information. This has also been a concern as owners remain mysterious in most cases.
    4. Property titles: Most of the properties in our county is in litigation. Every home buyer should check the paperwork and see if the property titles are clear. This is a huge challenge as many real estate agents or owners themselves can talk us in to buy the property even though the title is not clear. Many owners claim that the property is jointly owned by a relative who will never cause a problem without getting a consent to sell the house from all the parties involved. This often leads to litigation or an expensive settlement. Therefore, getting a property with clear titles is a huge issue.
    5. Budget and bank loan: To find a perfect house within one's budget is a challenging task. Budget is an important factor that decides the type of the house and the location you can pick. There are very few buyers who can pay the entire price of the house in cash. Most of the home buyers compromise on the house as they do not have sufficient funds to buy the house they want. Most home buyers depend on home loans to buy a house. When the banks fail to offer a good deal, their dream of owning a house is postponed.

    Buying a house is not a decision one makes frequently. It is a once in a lifetime decision. It requires a lot of planning, searching, and networking. These are only a few problems that home buyers face when they are planning on buying a house. There are many other issues like the appreciation cost in the area, bad credit score, and false promises by builders/developers. Hope you find the right house!

      

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.