Advantages of financial advice for buying a house
Carrying out a preliminary financial analysis brings several advantages:
It allows you to precisely identify what the real budget is for the purchase of the house, allowing you to discard those that are too expensive and identify those more in line with your spending ceiling. Understand if it is really necessary to buy in a certain area, or if you have to move to be able to make a purchase in line with your availability Carry out financial planning for the family based on the mortgage installment that you will/will be able to support https://www.homebuyingguys.com/texas-dallas/
Knowing in advance all the costs (or at least the fixed ones) of the operation will allow you to release the necessary sums in time, making you avoid wasting time that could make the deal vanish. Preventing you from “falling in love” with houses that you really can’t afford.
How Do You Do Financial Planning For Buying A Home?
Below we will divide the costs for buying a house into 4 categories :
Cost of the house
Accessory costs for the purchase
Below you will find specific details of the various expense items, how they are calculated and how to consider them.
The cost of the house is the first one shown and the one everyone refers to. It can vary according to any negotiation that can be carried out and must be paid (according to the agreements) part of the preliminary (deposits, price advances) and the remaining part at the deed . If you are not lucky enough to be able to buy a house with your own liquidity but you have to go to a credit institution, it is important to understand that the bank will hardly finance you 100% of the amount of the house, but 80%.
Ancillary costs upon purchase:
It’s all those costs that you discover after reaching an agreement on the purchase of your property.
Real estate agency commission
Notary’s fee for the deed of sale
Registration fees for preliminary
Even these costs cannot be financed and will have to be paid with the fruit of your savings, some before the deed (at the preliminary).