When buying a home, there are many factors that buyers should consider. These depend on each person's priorities and what they are looking for in a property. The following are some of the most important deciding factors when buying a home:
The Price of the Property
There is no denying the fact that buying a property as the main residence or to rent out is a great investment for the buyer. At the same time, it can be a long and costly process. After all, you not only have to pay the purchase price, but you will also need to cover the agent's commission, mortgage fees, the notary fees, and taxes.
All these are the reasons why the purchase price is usually the most important factor to consider by buyers - especially when one has a limited budget. This can be the case when the buyer isn't eligible to borrow enough money from a lender or he/she doesn't have sufficient savings..
The Location of the House
The property's location is perhaps the second most important factor when buying a house. In fact, in many cases, it is directly linked to the purchase price. Bear in mind that location is also one of the most determining aspects when it comes to pricing a home.
In relation to the property's location, most buyers tend to consider the area's transport connections. This is especially important for those who don't wish to live within the city. They also take into account the proximity of the property to shops as well as local amenities and services, such as hospitals, clinics, parks and schools.
The Quality of the Building Materials
Most resale properties don't tend to have the same quality materials as new-build homes. However, having good thermal insulation in the form of double-glazed windows with aluminium thermal break as well as newly installed lights, water pipes, and gas system, are highly valuable features for buyers.
Those interested in resale properties are increasingly turning to Libro del Edificio (Homebuyers' Report). This is a document that specifies the exact dates the building underwent its various renovations and the quality of the materials used for its construction. The same applies to energy efficiency certificates, which are mandatory for any properties that are put on the market from 2013. All these allow the potential buyer to obtain valuable information about the true condition of the property.
Based on our experience, these are the three factors that most influence the purchase decision of our customers. At Engel & Völkers, we always try to find the right home for every person who comes to us based on their individual needs. Our estate agents will only proceed to offer their best options once they have carried out an extensive study of the customer's requirements. Get in touch with us today and see for yourself.
