Seven Things to Note When Buying a House: How to Seize the Opportunity of Buying a House

When buying a house, sometimes opportunity is also an important part. What are the seven things we need to pay attention to when buying a second-hand house?

1. Banks are the weather vane

In the past year, there has been frequent debate about whether there is a "bubble" in the real estate market, and whether housing prices are high or low? This question is still left to economists to discuss alright. As a home buyer or investor, you don’t need to worry about the income-to-price ratio, nor how to calculate the vacancy rate. The way ordinary house buyers look at the market is very simple, that is, by looking at the bank's attitude towards home purchase loans. A loose bank's hand means that the market is optimistic; a tight bank's hand means that the market risk is increasing. The bank's attitude is truer, more accurate and more credible than the words of experts.

2. Refer to the average price

I often hear some people say that the average price falls because there are more houses of a certain type, but it does not mean that the price of houses has really dropped. People who hold this view only get the surface of the problem right, but ignore the true connotation reflected by the average price. The increase in certain types of houses represents market demand and reflects the government's policy guidance. As cheap houses increase, high-priced houses will be the first to be affected.

3. Buy up, not down

Real estate investment is the same as other investments. Don’t think you can touch the bottom line of the market price. If you are not in a hurry, it is better to hold the currency and wait and see when house prices fall. You would rather not be able to buy at the lowest price when the market starts to rise than have the mentality of ultra-low prices.

4. Learn to "seize opportunities"

To make money in the real estate market, like other markets, you must sometimes be good at "seizing opportunities". If a real estate developer can engage in "internal subscription" for the completed construction, it will be cheaper because the procedures have not yet been completed. Would you like to give it a try? If a house has a pre-sale permit and a land use certificate has been obtained, would you dare? Do you dare to buy? At the same time, you must learn to buy with anticipation. For example, know where there is a convenient road to be built or where it will be adjacent to a subway station. Instead of waiting for the house to be built before buying it, it is best to buy it before it starts construction.

5. Choose the cheapest one.

Different businessmen have different marketing techniques. An expensive house does not necessarily mean a good house. Some developers hope to occupy the market through price competition with small profits but quick turnover. Some developers set prices higher, thinking that selling 50% of the property will achieve the same effect as selling 90% of the property through small profits but quick turnover. They would rather sell 50%. Therefore, when a house buyer chooses a house, if he is "not looking for the best, but only looking for the cheapest", buying the lowest price among houses of similar quality in the same area will be relatively more resilient.

6. Calculate the cost of raising a house

The slogan "Buying a house is buying a life" has been promoted for many years. Some experts even advocate buying small communities, believing that small communities are more sustainable. It shows personality, but I think buying a house is buying a house. The larger the community, the lower the use and maintenance costs. Because buying a house does not mean that you can enjoy all the facilities and services in the community for free. You have to spend money to use the clubhouse and underground garage; the more luxurious the lobby and the more public facilities, the more you pay; the fewer the number of households in one door, the more you have to share in the elevator fee. The higher the cost, the more expensive it is to maintain a house, which cannot be ignored when buying a house.

7. Just meet the demand

Because people’s herd mentality and following habits will make a certain market or area more and more popular, and the price will follow the trend. The more expensive. If it is expensive to a certain extent, you have to be careful not to get "trapped" in real estate! After all, it is impossible to be prosperous forever as the fortunes change. Therefore, I would like to tell my friends who are buying a house to live in, the best house is the one that meets your needs. Set your goals before buying a house, see more, and don’t compare or care after moving in. Psychological balance is better than any material things. Enjoyment is important.

(The above answer was published on 2015-12-18, please refer to the actual current relevant home purchase policies)

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