By Claudia Castillo
Special for El Inmobiliario
Buying your first home is exciting, but if you're not familiar with the process or don't have a good advisor, it can become complicated and cumbersome. That's why we're providing guidance on the key points to consider when buying your first home, so your experience will be unforgettable.
- Calculate the budget
First, clients should assess their budget for buying a house or apartment. They need to be clear about their desired investment and savings plan, and then calculate their borrowing capacity. This can be done through a mortgage broker, who will provide an initial estimate and help them find a favorable interest rate for the home purchase.
- Additional costs
In addition to the price of the house, the client will have to pay additional expenses, which first-time buyers are not always clear about. To avoid unpleasant surprises, it is essential to be informed about each of the following charges:
- Drafting and notarizing the contract
- Real estate transfer
- Closing costs if you take out financing
- Define the search criteria
Now that the client knows their maximum budget, they should begin their property search with the help of a real estate advisor, which is highly recommended. But first, they need to define their requirements. Geographic location is the first question to answer. Consider the distance to their workplace, shops, schools, and public transportation; how many bedrooms they need; the minimum size they're looking for; and ultimately, what type of property suits them best.
- Remodeling
Here's a question you should also ask yourself as a client: Are you ready to remodel? Properties for renovation (resale properties) effectively offer more flexibility when negotiating the sale price. Therefore, we must present the client with the different alternatives when they embark on the search for a property to renovate. It can be a much more economical option, and at the same time, you'll be able to make the changes you deem necessary to create your dream home.
- Property options
As a real estate agent, you're there to guide and advise your clients. Let them see all the properties you have available. To do this, you can manage not only your own database but also those of your colleagues in a shared CRM to give them a wider range of options.
- Buildtrust with your customer
Honesty is a plus for most real estate agents, and it's what builds trust with clients. Therefore, you should express your opinion with absolute sincerity regarding the suitability of the property for the potential buyer, or whether they are certain of their choice considering all the requirements. If so, suggest they make an offer as soon as possible.
In some cities, responsiveness will be key to the success of your purchase. However, give your customer time to think it over, as this is not a decision to be taken lightly.
