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The country is constantly going through ups and downs. Although much is said in crisis, there are opportunities in several segments, and real estate is one of them. With the downturn in the economy, after years of growth, what happens is a huge availability of real estate: that is, for those who have been scheduling to buy real estate, whether new or used real estate, the time is now.

Choosing forms of payment that are consistent with the family budget to reach the purchase of that good – which represents stability and security – is one of the important aspects around the subject. This, and many other points that will need to be decided by those who decide to take advantage of the time to buy new property are addressed here in this post.

Keep up the good work and know the top 5 steps to buy your new property!

 

 

  1. Define how much you will spend

For those who are going to buy property in installments, a detailed analysis of the budget and the family income is essential. Taking into account all costs related to housing, when assuming installments of a property, is to ensure financial health to the business. Important to keep in mind also, when thinking about financing a property, that the maximum possible to commit to their installments is 30% of income.

Regardless of whether your purchase will be in cash or installment, it is important to do accounts. When you buy a property, in addition to the cost of the property itself, fees and taxes levied on the transaction. So having these costs clear, and counting them, will allow you to have the exact notion of how much you will use when buying property.

 

 

  1. Choose the best one for you

Buying new property will allow you to make an advantageous acquisition under several aspects, one of them being the first resident, and receiving a brand new property. Buying new real estate is also ideal if you want to pay off most of the value, since there are lines of credit specially created for this type of acquisition.

Buying property in the plant is an excellent choice for those who are not in a hurry to move. For those who have time to wait for the delivery of a property, buying it at this stage of the venture will allow you to enjoy better prices than the real estate ready. The builders, even, offer possibilities of customization of the apartment or house, when bought in the plant. That is, you, in addition to better prices, may still have a property in your own way.

 

 

 

  1. Decide on the most appropriate form of payment

In cash

If you’ve been making a financial reserve for some time, thinking of buying real estate, great! This is a form of payment full of advantages:

  1. Greater bargaining power
  2. No impairment of monthly income with installments
  3. Possibility to take advantage of cash payment offers

 

 

 

Real estate consortium

Who wants to enjoy the advantages of pay cash you will find in the real estate consortium the right way to make your purchase. The consortium is an established way of buying in a planned way. By joining it, you will have the value of the desired property – total or entry – divided into monthly installments, and will purchase your apartment or house by means of a letter of credit.

Every month, those who have a real estate consortium have a chance to be contemplated, as the lottery draws happen in assemblies with this periodicity. After contemplation, the consumer will undergo credit analysis and may buy his new or used property, and also invest in the purchase of land, construction or renovation.

 

  1. Look for the ideal property

Buying property requires a good deal of certainty about what you really want for yourself and your family. Because it is a heavy purchase in most people’s lives, it is necessary to do so with the utmost certainty of what is wanted from the present moment and about the future yearnings.

 

 

  1. Find the Right Place

When it comes to living well, it is not enough to have the perfect property: it needs to be in the right place, and in line with your lifestyle. Therefore, to close the deal, check carefully if the property you are looking for is in a place that can meet your housing expectations.

If, for you, having schools nearby is crucial, before closing a deal, be sure to check out nearby education options. In order to avoid relying on the car all the time, having trades around the selected property is essential: bakeries, supermarkets, grocery stores, drugstores and free-trade fairs, when easily accessible, are amenities to consider.

 

 

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That anyone can buy a house or manage the rental of an apartment is half true. Real Estate investment attracts all kinds of people because it is seen as an easy business to understand. Whether the house is an investment or if it is to live, these are some of the frequent mistakes that should be avoided.

 

First. Be willing to spend thousands of dollars on the purchase of a house but not to invest $200 in a lawyer. You should neither reserve the house nor sign an earning contract, or a lease with an option to buy and, let us not say a sale, without having a lawyer next to negotiate on your behalf and defend your interests.

 

Second. Do not spend time and effort to understand well what is going to be signed. In Rosales’ opinion, it is irrational not to spend an afternoon at the lawyer or a morning at the notary’s office to know well what is going to be signed before going into debt for life. The deeds of sale, specifically, are in the notary three days before and the notary, at the time possible, has to advise and clarify any doubt for free. The deeds of the mortgages of some entities are expected to be consulted in advance as of January.

 

Third. To think that the real estate agency or the financial entity will defend our rights instead of selling us the most profitable product. Search and compare are imposed. This belief is the mother of the previous two and the antidote is to advise and spend as much time as necessary. “Whoever signs in five minutes pays the consequences for a lifetime,” Rosales warns.

 

Fourth. Buy a home exceeding the needs and payment possibilities. A young man who, to emancipate himself buys a house for a lifetime, without certainty of being able to pay the mortgage when interest rates rise, will save that 10% of paperwork and taxes that he would have to pay if he later buys a larger apartment, but you will not run the risk of losing everything.

 

Fifth. With just a dating relationship, getting into a purchase and a mortgage is far fetched. And the error is even greater in cases where you live and have children without registering as a common-law partner or getting married. “Situations such as marriage are well regulated, it is known what to expect when the relationship is initiated, developed or extinguished, by separation or death. In the case of courtship, it is appropriate to agree on rules and raise them to public deed to set the proportion of the mortgage that each one will pay.

 

Sixth. Request that parents or a family member endorse. “What we call bank guarantee to ask for a mortgage should never be from the family,” explains Rosales, who argues that “he is a perverse figure.” And he adds, if the financial institution distrusts that the loan can be repaid, it should not give it.

 

Seventh. Choosing a home without making sure of its proximity to equipment or means of transport and without calculating what is going to be invested in time and fuel for life is as absurd as buying a new apartment without taking into account the community of owners. Daniel Loscertales, president of the legal editorial, warns that “it is not unusual for a block of recent construction to have several homes in the hands of the developer who does not pay the community fees and, if it goes into bankruptcy proceedings, the rest of the owners will have to be paying those fees for years if they don’t want to be without services, such as the goal or the heating.”

 

Eighth. Have debts and, not to lose the house, try to give it to the child, simulating a sale or donation. It is considered an asset uprising. It is a fraud if the person who donates the house did not reserve assets to answer for his debts. And, by the way, the son will respond to the father’s debts, says Rosales.

 

Ninth. Give unlimited power, for example for the sale of housing. You should always limit yourself in time. Renewing it means about $70. And, also “you have to ask for and keep a simple copy to make it easier to revoke,” advises Rosales.

 

Tenth. Rent a property without taking precautions on the solvency of tenants. “The rent is protected by article 6 of the Law on Urban Leases, which prevents any agreement that harms or is contrary to the law itself.


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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.