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Any Tips for First Time Buyer ???

Discussion in 'Buying Overseas Property' started by darren, Sep 4, 2006.

  1. darren

    darren New Member

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    Hi all,
    first time on this board due to not having been involved in property before. But I am here now for the obvious reason. First time buying.
    I am viewing a new build property tomorrow and would like to call on others experience of things I should ask? As its a new build there wont be a lot of anything in there I realize that, but what else should I be looking for and asking about. Sorry the question is a bit vague but any tips or advice greatly received.
    Good luck
    Darren
     
  2. drew

    drew New Member

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    Hi Darren,
    Take a tape measure and measure out the size of a 5' by 6'6 bed in the main bedroom, and see how much space is left.
    Sometimes the show homes have 'small' furniture to make the rooms look bigger.
    Many Thanks
    Drew
     
  3. James Glassbrook

    James Glassbrook New Member

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    Depends where you 're buying.Some countries regulate such things as insulation.Perhaps a good way to start is to see a solicitor & ask questions.
    Jim
     
  4. Lysos

    Lysos New Member

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    Now is not the time to be buying anywhere.
     
  5. jonbyrd

    jonbyrd New Member

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    First time buyer

    Hi Darren

    I noted you had a reply telling you not to invest now. Although I do understand where that person is coming from I do disagree. Most amateur investors make the biggest mistakes. They buy at the top and sell at the bottom. Its the same with stocks and shares. When the market is rallying buyers pile in, when its falling people sell to get out, losing money every time. Now we have seen a drop in prices now is the time to start looking at getting in. No one will ever buy at the bottom and sell at the top just look for property thats in the right location and looks liek a good price. Think about who would rent it and ultimately would it sell easily in the future when you want to get out.

    Good Luck
    Jon
     
  6. rowlandsbb

    rowlandsbb New Member

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    This is a very old thread but the question is very relevant today
    For investors: now is just not the time to start the learning curve unless of course you have lots of spare money
    If you do then location is paramount and you need to get in at a very low price.This means a lot of hard ground work in the country you like best
    In these times the advanced economies are the best as when the buyers return they will buy in the traditional countries-Spain and France being the main ones
    Also for renting be close to beach and close to golf...front line if you can
    The best locations recover first!
    Do not beleive agents investment projections.....that is all they are!.......research and do your own
    For experienced dealers there are lots of good deals about in Spain but as you would expect the Spanish dealers get the best!!!..their country

    Now for life style buyers the considerations are different

    For part/full time living it is a matter of finding where you want to live and a suitable property....not all the best are on the market as owners are only selling if they have to
    But with help from a decent agent you will get a good deal for a ready now or re sale

    And of course we all want it to be a good long term investment and I think that the general opinion is that, whilst you may not be buying at the bottom, 2009 is a good time to buy

    eg in Almeria we have a 2 bed duplex with solarium, gated complex 15 mins walk to beach, price paid by seller, 184.000 € , needs to sell so price is now 134.000 €

    And we also have a lot of ready now, all types , where to sell the developer has reduced the price by 25%-3 bed Quad in Mercia down form 187.000 € to 138.000 €...and very nice it is too!

    Holiday home buyers have a different outlook:- cost of financing the purchase relative to family holiday costs and convenience of having it available when you want it-for Spain it's a couple of hours so easy access for weekend trips
    Again, prices are relatively low making the purchase more cost effective and with a decent deposit good mortgage terms at low interest rates are available

    So all in all.....life style buyers have not had such a good selection for a long time and at sensible prices.....and ' all the prices stated on our web site...........are open to offers!'
     
    Last edited: Apr 16, 2009
  7. Michelle Alden

    Michelle Alden New Member

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    Hi Darren

    Debt is a big issue for many people so my advice would be to pay all your debts first i.e. credit cards etc. Then ask yourself whether can you afford to buy if so then you can continue with the buying process of consulting professional help etc.
     
  8. James Glassbrook

    James Glassbrook New Member

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    Whilst the advice might be sound I doubt if Darren, five years after the question, will still be looking at the forum.
     
  9. jtrader

    jtrader New Member

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    I would say debt should always be paid off first and be top priority before anything else is considered.
     
  10. expo09

    expo09 New Member

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    Agree with the other poster that said this is not true. Why would now be a bad time to buy for a first time buyer? Prices are lower (though not that low) and will rise. It's the best time to buy for 10 years.
     
  11. wendyleeds

    wendyleeds New Member

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    best advice is get a sound estate agent and an experienced lawyer to avoid being screwed up!
     
  12. 1stcallproperty

    1stcallproperty New Member

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    1st Time buying?

    Before you decide to purchase. Ask yourself, have you visited the place before. Are you looking to live there or, holiday home? Do you want to rent out your holiday home? What job are you going to do? Do you speak the local language? Are your children happy that they are going to go to a new school and leave their friends behind? What about health insurance?

    The first thing we recommend is that people RENT first to see if they really like it and not see it through holiday eyes??? Rent for at least 6 months to decide if this is really what you want?

    It is a great lifestyle if you live like the locals do and interact with them. Get involved with the local communities and not spend 99% of your time with Brits abroad.

    If you have to work? Work for yourself. Start a business. Not a bar, everyone has tried that and you will work hard to make it succeed.

    I wish you all the best.

    Regards
     
  13. DaveSmith

    DaveSmith New Member

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    Make sure the neighborhood is what you are looking for. Go to the neighborhood at different times of the day and night to get a feel for the area. Local neighborhood information is important when moving into a new area.
     
  14. Albert510

    Albert510 New Member

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    A few tips from my end for all new buyer...
    1.Extra careful about the Legislation Laws and Property laws in that area....
    2.Some know how about the rates in the area...
    3.Must be good at prediction about the future of that property.
     
    Last edited by a moderator: Jul 21, 2011
  15. sumatha

    sumatha New Member

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    monthly payments for overseas loan

    hi
    i am interested in investing in singapore, where the housing loan is just 2.5‰ , very high rental income and property appreciation is one of the best in asia. i found a good one but my problem is i have no idea how i would service my mitigated monthly. how do i legally send money to singapore bank. wiring from indian bank acc to singapore will create problem from IT dept. please advice.
     
  16. CSQTownPlanner

    CSQTownPlanner New Member

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    If you are buying house first time than first of all you should check the selling prices of comparable homes in your area and see what you can afford.
     
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