Ten Things to Know when Buying a Property

23 Jun

Joe Armato is currently a Real Estate Developer. In this job, he builds high end properties and sells them to the rich and affluent. He also does his part for society by building affordable housing and renting them to individuals that can afford middle class housing. Buying property is not a decision that should be made in the heat of the moment. As a real estate developer, Armato understands this and practices this while he works, if he does otherwise it is because he has the experience and the smarts to find the reason to his madness.

joe-armato-real estate developer

For amateurs like us, we need to do more than a developer would when we are considering buying property. We also need to consider the purpose for buying this property and ensure that it will benefits of purchasing outweigh the risks. Here are some things to think about when considering purchasing property:

  • As vaguely hinted at, buyers should concentrate on whether buying is affordable and the right decision long term. Concentrate on the bigger picture: financial security.
  • Work out the true cost of buying as purchasing property usually costs more than you think. Also, always consider costs of moving from your present place to the new property as part of your calculations (if a house is what you are buying).
  • Find out how much you are able to borrow prior to looking and when looking at properties, always look in your budget. If not, you will always be disappointed.
  • Peruse the area you are purchasing property in, question the locals or neighborhood watch coordinator if one is available.
  • Before putting in an offer ask as many questions as possible. Even if you do not get a truthful answer you can probably sense their discomfort when they do answer.
  • Take pictures when looking at properties. They are a useful reference point when making a decision.
  • View the property during the day to get a feel of what the area is like at different times during the day.
  • Have a list of deal breakers and go through it with each property
  • Find areas where sellers drop prices.
  • Consider the property’s resale potential.

Follow these tips and Armato’s diligent example for property buying success.

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Posted by on June 23, 2015 in Joe Armato, Joseph Armato


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