How to buy a house in times of crisis

If at the beginning of 2008 buyers were looking for sellers, now is vice versa: buyers are the masters.

So we offer you some tips:

1. Not to rush:  In the current situation of blocking of the real estate market, the buyer is the one who dictates at what price to buy, when, how and why. It is best to allocate time to see many offers – including to see homes and to discuss with many owners.

2. To negotiate hard:  In times of crisis, an owner who needs to sell a property must make many compromises and one of the most important is the price. So a future buyer can force to negotiations and can get a good price.

3. To be very careful about the quality of the housing:  Not always what is cheap is also good, so the property must be thoroughly checked.

4. Attention to the property documents: Many take advantage of the sellers and buyers desperation and draw false property documents.
5. To take into account a top location, a good area: Worldwide the location is very valuable, particularly in capitals. Therefore, even if in times of crisis the location does not seem so important, it will be valuable in good times, so if an apartment placed in a good area is slightly more expensive than the one in a bad area, choose the one in the good area. Prices will certainly evolve differently.

6. To carefully check the payment of suppliers, to avoid very high debts at maintenance, electricity, Internet, and so on.

7. Be sure of the funding, to double-check that the bank grants the credit before signing the pre-existing contract.

8. Calculate more carefully the budget of the transaction: Apart from the price, consider the taxes, state taxes, notary fee. Be careful because you cannot rely on friends too much when the market has financial problems, few people have money to loan.

9.  Select carefully the estate agency: During this period many agencies have fewer customers, and the time for the new customers has become more generous.

10. See the house primarily as a necessity, not a long term investment:  In times of restriction, it is not good to think that you will have more children over five or six years, the mother will come to live in the same house and so on.  The budget must be in the first place so that in the near future, to afford the house rates, the utilities and possibly the transportation to work.