Tuesday, March 08, 2011

step by step

Buying a house is not like buying a pair of shoes that if it doesn’t fit you right you could bring them back to the store. It’s the major and vital financial decision in life. It could be lengthy, complex, exciting and stressful… name it ! It’s a maze of legal work, bidding, opting for a good mortgage arrangement. Most importantly finding the right home of your choice. More than anything else, financial situation is important to purchase a house. However, being emotionally & mentally prepared are also the keys to start an important project and seek for a home you can really afford. With all the aforementioned, now I can say we are ready !

I then started to check real estate magazines and internet for houses, apartments or even lands for sale in our district & neighboring cities. Our house hunting didn’t take long as we personally opted for direct selling. First, we needed to look at our budget that will fit into our financial condition. Second, real estate is costly so our friend who is an agent/owner recommended us to wait until the housing prices plunge. Third, we still have 4 years mortgage to complete the payment of this flat (but that’s another story) to keep or sell. Those are many reasons why we have waited to squeezed in for the meantime but not for so long.

Plus, we have already rubbed off the idea of buying from real estate agencies, reality is to keep us away from over exuberant cost as housing market still seems pretty bleak. I was surprised that the whole process only took us a year to finalize everything from searching for the perfect home in the right neighborhood, to verify our financial means, to moving and settling in.

Thanks to our financial consultant all is being scrutinized from bank statements to appraisal, financial budget and calculating future monthly mortgage. Plus, we asked if it’s possible to keep the flat as an investment without out having to worry about financial stability if we have them both. We make sure our credit history is as clean as a crystal water. Good news, we were pretty much able to pay the rest of the credit to make this flat ours. Finally, a good benefit that will help us keep a good eye on fixed asset or long term investment..

We are tremendously grateful for some professional help that we received from my husband’s childhood friends :

Guillaume - Real Estate Agent, from guiding us the entire procedure so as to avoid some of the most frequent risks, the pros and cons of home-buying. He will also take care of this flat to look for a renter.

Xavier - The Architect, who helped us to check the house’s condition like public safety and building codes. What to avoid and to get rid of some little things that are useless and gives us some pretty good ideas for future repairs.

Jérémy - The Notary who takes care of all the legal works such as signature witnessing, deposition, confirmation of acknowledgment, oaths and affirmation and to journalize everything.

That’s what I call team work! After several months of visits we finally found a home that suits our taste especially our budget. In no time, we will move to our new home and things will be more easier and comfortable for everyone. I can’t wait to be home soon.