Tips for Buying a Condo without Making Many Mistakes

Kaka'ako Realtor

Several recent studies indicate a strong overvaluation of the housing market. A sharp rise in interest rates or the phasing out of the housing bonus will inevitably have effects on house prices. So just wait a while before purchasing your home until the prices have fallen? For the pure real estate investor that might be an option. But your private home is more than an investment product. The question is also whether you will benefit greatly from this. If the fall in house price is the result of an interest rate rise or a less favorable tax system, the final balance may be negative. But with Kaka’ako Realtor the deals are perfect now.

Note the location

Location is a sacred word in the real estate sector because the location largely determines the value of a property. This is also the case for residential real estate. The quality of a location is also quite steadfast. That is why it is sometimes better to buy a less attractive property in a nice street than a nice property in an ugly street. You can relatively easily make the ugly house attractive, but that does not apply to the street. The art of buying real estate is being able to estimate which locations will be top in the future because at such locations there is a prospect of great added value.

Kaka'ako Realtor

Go in search of sleeping building land

Building land is said to be scarce in our country. Many aspiring builders give up after long fruitless searches and still opt for an existing home. However, the stock of building land is still far from exhausted. Only there is not a ‘for sale’ sign on every parcel. Many private landowners are not in a hurry to sell. But that can change quickly if they get a conceit bid. If you know a beautiful vacant plot, try to find out the owner’s details. This is possible at the Land Registry, for example.

Cheap is not always better

Buying an existing home that is still to be renovated has the advantage that you can spread the investment over time. The fact that the regulations on energy performance still focus on the new-build market also provides a price advantage for existing real estate. But be aware that the prices are relatively high in the segment of smaller houses, due to the high demand. If a thorough renovation is then required, the total price tag may be disappointing.

Are you considering buying a home or apartment for the first time? Then everyone is probably overloading you with good advice. But what advice should you take to heart? It is difficult. Therefore experts summarize their golden advice in short tips.

Request reports

A lot of things can be read in black and white, such as energy efficiency and structural inspection. Request such reports because they can influence the price and any costs afterward. The seller must be able to present you an energy performance certificate (EPC) and inspection report of the electricity before you sign the contract.