Buying a home can be a big decision, whether moving into a new house with your family or moving out into your own private home in search of some much-needed personal space. Here are a few things to consider and keep in mind while in the process:
Banks and your budget
For most people, their homes are their biggest investment and it’s important that you get a home that suits your budget and needs comfortably. Before taking on a personal loan and making any down payments, it would be good to know all financing options you have such as instalments, government housing programs like “Mazaya”, and the different interest rates from banks regarding your loans. Before committing to a loan, you need to ensure that you are stable and ready for the long term; once your loan is approved and set, you can properly weigh out your housing options within the approved budget. If you’re looking for affordable villas in Bahrain, check out these on Property Finder.
Age of the building
It’s crucial to know how old the building or villa is before you buy into it. Of course, this all depends on your personal opinion and preference so it would be good to know your options. If it’s too old, you may have to flip the home and do a lot of renovations which will be an added cost. It would be great to hire an expert property inspector or valuer onsite before making the purchase to ensure you’re in the green zone.
Hidden fees:
While it is great to own your own property, let us not forget about those hidden fees, such as yearly maintenance to make sure the property is in proper condition in the long run; Making it your forever home.
Location, Location, Location:
Before making the big buy, have a look around the area of the house or apartment to see nearby facilities such as petrol stations, local transport, parks, gyms, supermarkets, health centres, schools and peak traffic times. Unless you’re looking for a more secluded area, it would be best to have facilities nearby just in case but not too close that you will face a lot of traffic during the day. It would also be a good idea to visit the location on different days and times to see if the location is noisy, or heavily congested depending on a particular day of the week. If luxury facilities are what you’re looking for then check out these recommended apartments, villas, penthouses and duplexes with the most lavish facilities on Property Finder’s website.
Personalisation:
A good question to ask is can it be personalised to you or does it reflect your personality? Having your own home means you want it to be fully yours and designed specifically to you, in the case of most homes this is possible, however in some compounds or branded properties, you will be limited to their own specific design options and only be able to add your own personal touch without making any physical changes to the property. It’s important you know before you make the purchase if you want to make any big changes to the home such as paint colour, exterior facade, and interior structure.
Once you’ve finally found and selected your new home, make sure you are 100% in before submitting any offers or signing any legal documents, as this is a big decision that impacts your entire life. It’s important to be extremely patient and careful when buying a new home and only trust agents from reputable real estate companies. Check out these top real estate agencies, brokers and developers in Bahrain for more information and help regarding your home-buying journey.
