The process of buying a home can be stressful, especially if it’s your first time. It involves things like reaching an agreement with the seller, paying a large sum of money, and dealing with a lot of paperwork and formalities, so it also requires us to pay close attention to ensure that, when the time comes, we have everything we need.

If you’re about to buy a new home, don’t worry— at Culmia, we’re here to help. We’ve put together a list of tips on what to keep in mind when buying a home, and we’re sharing them with you here. So save this article and refer back to it when the time comes!

10 Things to Keep in Mind When Buying a House

Does this meet my needs?

You might want to buy the house as a second home or a vacation home. Or perhaps you plan to rent it out… There can be countless plans and projects behind a real estate purchase, so the first thing to consider is whether the house you’re planning to buy meets your needs: How many bedrooms does it have? Is it furnished? does the building have an elevator?, etc. That’s why drawing up an initial list of requirements might be helpful.

For example, if we have a large family, one requirement is that the home be spacious enough for all of us to live comfortably inside. Or if two or more people who have to leave the house at the same time in the morning are going to live there, it should have at least a couple of bathrooms, so that it isn’t necessary to set a schedule. Remember that there are details that can end up being very important for us to fully enjoy our new home!

Condition of the home

We can’t imagine buying a house without visiting it several times first, right? But just looking at it doesn’t guarantee that there aren’t any problems that aren’t obvious at first glance, because there may be major issues that don’t become apparent until we actually move in.

It’s a good idea to use all five senses to check the condition of the electrical system and plumbing; and if renovations are needed, we should carefully estimate the cost of the work. On the other hand, if it’s a new-construction home,don’t forget to request the building specifications!

Is it completely unencumbered?

One of the “surprises” —ina negative sense—you might encounterwhen you receive the keys to your new home is the existence of certain obligations, such as mortgage payments, tax liabilities, and neighborhood fees—arisingfrom homeowners’ association dues, etc.—.

Therefore, to avoid having to cover unexpected expenses, it’s important that you visit the Land Registry to request a property abstract before completing the purchase. This document provides basic information, such as the property owner, a description of the apartment’s features, and—most importantly for our purposes here—any administrative encumbrances it mayhave.

Energy efficiency certificate

Any home that is put up for sale or rent must have an energy efficiency certificate. This is an official document prepared by a qualified technician that indicates the home’s energy consumption over the course of a year, based on normal operating and occupancy conditions.

There is a letter-based rating system to determine this consumption, which will help you calculate the associated heating costs and energy usage. It’s also a good idea to pay attention to factors such as the home’s orientation, the number of hours of sunlight it receives each day, the type of heating system it has, or whether it has an air conditioning system, because all of these factors will also influence the gas and electricity bills you receive at the end of each month.

Location of the house and neighborhood characteristics

You might love that apartment you just visited. But… have you paid attention to everything around it? The neighborhood and the surrounding area are very important factors to consider, because they’ll affect your quality of life once you move in.

With that in mind, consider the services you’ll use while living there— hospitals, pharmacies, supermarkets, schools, public transportation, recreational activities, etc.— and decide whether to buy the property based on whether they meet your expectations. And, if possible,try to find out if there are any issues in the area, such as excessive noise, neighborhood disputes, or construction, because in some cases these can turn your excitement into a truly negative experience!

If you’re going to take out a mortgage, make sure you can afford it

Under normal circumstances, the bank itself will be responsible for verifying that you can afford the mortgage you’re about to sign to purchase the home. But even if you get the green light from them, don’t overlook this aspect: experts advise that the mortgage should not exceed one-third of the total income of the new homeowners, because if we follow this unwritten rule, we’ll avoid having trouble making this and other basic payments.

Keep track of the expenses associated with buying a house

Notary fees, taxes, property registration , etc. Managing this entire process involves a wide range of expenses, so don’t forget them. In fact, budget from the outset for approximately 10-15% of the total cost of the property , depending on its features! And that’s without forgetting the roughly 20 % down payment…

What recurring payments will you have to make after buying the house?

In addition to mortgage payments and related expenses, buying a home also means taking on a number of monthly bills. These range from homeowners’ association fees to electricity, gas, phone, and insurance bills. So we recommend that you familiarize yourself with all these obligations, since a 70-square-meter home does not consume —andtherefore does notcost—the same as a 120-square-meter home, for example.

If the building is more than 50 years old, be careful

By law, every residential building that is 50 years old or older must undergo an Official Technical Inspection at regular intervals. This inspection is conducted by an architect and verifies that the building meets the safety and health requirements necessary for it to be habitable.

This is a regulatory requirement governed by the autonomous communities and local governments, so be sure to find out the age of your residential building and how to obtain this certificate if you need it!

Contact the homeowners’ association

If you’re planning to buy a home in a condominium or building with multiple owners, contact the homeowners’ association beforehand to find out everything you need to know, check if there are any planned projects or construction work, and obtain a copy of the bylaws. This will help ensure you get along perfectly with your new neighbors!

Here are some things to keep in mind when buying a home. We hope you find them helpful and, above all, that you enjoy your new home!

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