Buying a condo in London is a major investment no matter which way you look at it.
But for many condo buyers, it's an even more expensive process than it needs to be because many fall prey to at least a few of many common and costly mistakes which trap them into either paying too much for the condo they want, or losing their dream condo to another buyer, or worse, buying the wrong condo for their needs.
A systemized approach to the condo buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also buy the condo that's best for you.
A real estate industry report has just been released & this important report discusses common and costly home buying traps, how to identify them, and what you can do to avoid them.
A great way to get a handle on your wants is to take a good look at your present home. What do you like about it? Do you like its open floor plan? Do you like the kitchen and eating areas? Do you like the common area layout?
List out everything you like about your present home, or homes you’ve visited.
Now, let’s take a look at what you don’t like about your home. Do you hate the shape of the roof? Do you hate the master bedroom layout? Are the bedrooms too small? Is the kitchen too far from the garage?
If you dislike something with your present home, you’re going to dislike it with your new home. So the better you can identify these items, the more likely you are to avoid them.
Here’s a good suggestion: Take out a piece of paper and draw a vertical line down the middle. In the left column, write down everything you like about your present home. In the right column, write down everything you dislike about your present home. It’s also important you understand WHY you dislike something.
Now, from your list of “likes,” let’s compile a list of features you want for your home. Here’s an important tip that will help you really narrow your focus.
Take out another sheet of paper and put two columns on it. On the left hand side, you will be listing out the features of your home. And on the right hand side, you’ll be listing out the benefits. For each feature, you want to list the benefit of that feature.
Features tell you what something IS: two bedroom, two baths, 2 parking places, etc. Benefits tell you what something DOES. Benefits fulfill desires.
For example, a great room concept (feature) will be ideal for entertaining friends and family at special times (benefit). So on the left hand side; you would put “great room.”
And on the right hand side, list out all the benefits (or reasons) for the “great room” design: family entertaining, business entertaining, Christmas holidays with the family, etc.
Understand What Each Other Is Looking For, And WHy
If you’re a husband and wife looking for a condo, this exercise will eliminate many disagreements down the road. You will both understand what the other wants, and WHY they want it.
I recommend you RANK each feature in terms of its importance to you and your spouse. You’re both going to live in the condo, so you better understand what the other is looking for. If you are single, do this as well, you never know when that perfect person shows up and if never, no harm in going through the exercise.
For example, a well designed gourmet kitchen (remember, list ALL the features of the kitchen you’re looking for) may rank high with a woman, while having a den or a study may rank high with a man. Or vice-versa. Try to understand each other’s priorities. If you have been married for a long time, hopefully you know that by now.
Now you can receive this free report right now with no obligation on your part.