7 important steps before buying an apartment

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Taking the step to buy an apartment is not an easy task. This decision is accompanied by an innumerable list of doubts that can lead you to a state of confusion. Should you really buy an apartment or is it better to rent ? Is it a good time to buy my apartment ? Could I be wrong?

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There are many questions that you can ask yourself regarding this decision to buy an apartment and we know that clarifying them at this point is not an easy matter. That is why we have dedicated this space on our blog to tell you some of the important steps you should take before buying an apartment. Let's go there!

The 7 most important steps before buying an apartment
1. Assess the budget you have
Before starting the search and jumping into the void, we have to determine what our budget will be to buy an apartment . Of course, do not forget that, in this budget, you must take into account the value of the property and the expenses of the different procedures. In addition, you must have 20% of the value of the home that you will have to give as a down payment on the home.

To meet expenses you must take into account your monthly income and current Romania Mobile Number List debts. Once clear, you will have to save a total of 30% of the income to pay for the apartment.

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2. How will we pay for the apartment
We know the budget, but do you know how you are going to pay for it? In cash or through a mortgage? This detail is very important when you venture to buy a property. Since these options can lead you to different processes.

If you pay in cash you will only have to give a bank check and make a transfer in favor of the seller at the time of signing the deed. On the other hand, if you need a mortgage, you must request it from your bank. It is essential that you have a conversation with your bank where loan repayment terms are established (longer term, higher interest). To find out the appropriate mortgage amount, monthly payment and interest, you can use a mortgage simulator like Housfy. Do not get carried away by the proposal of a single bank, go to other entities and ask about the conditions of their mortgages. At Housfy we have a team of mortgage advisors specialized in obtaining mortgages with better conditions.

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3. Choose the perfect home for you
Now, once the budget has been set, you can start looking for your ideal apartment. And do you know what type of home you are looking for? Do you want a new construction, a second-hand home, a free one or a protected one ? If you have not yet decided, it is important that you know that there are several types of housing, and start considering which one suits you best.

New homes are brand new homes and their taxation in the purchase process applies VAT. On the other hand, second-hand homes are homes that have already been owned by other owners. If you opt for this type, you have to study in detail the state it is in and the future works it will need. And, in addition, there are bank and private apartments that, although they are second-hand, have hardly been inhabited and the purchase price is very attractive.