For many of us, investing in a house is usually the single largest investment we'll ever make in life. So how often do we just plunge into it without having enough thought and planning? The answer: Many times. To avoid such derring-do when choosing that dream house, here are 9 things to consider before you decide to purchase house.

1) Acquire advisors
The saying "no man is an island" also rings correct when it comes to acquiring home. It is best for property owners to enlist assistance from the realtor, banker, lawyer and property inspector. Nevertheless, before you decide to decide on your team of experts, ensure that they know their stuff.

Even if you have experts, it is advisable to still perform your personal research. Don't blindly follow what they say as things could get ugly if you do not fully understand what's going on. In addition, it is usually wise to find referrals and pay attention to the tips and suggestion of friends and family.

2) Looks can be deceiving
Do not make your decision depending on look alone. You might be seduced by the home at first sight, but please consider if the residence matches your own family's needs and more importantly, whether it is within budget allowed. To prevent this particular mistake, make a list of what you need as well as verify it contrary to the prospective residence.

You must also allow yourself time to get to know the neighborhood. Stop by the place at many different times of the day and week to view how an natural environment is like. Take a look at local schools (even if you don't have got kids) to make sure that the house will allow you to get a good resale value.

3) Get pre-qualified/approved financing
This task can help you determine your budget. When you are getting pre-qualified, you will have a basic idea of how much you can borrow. If the bank or mortgage officer assesses your buying potential, he or she should be able to help you on financing strategies, for example the possibility of joint borrowing or lengthening mortgage loan tenures.

At the same time, when you're pre-approved, your banker would have undoubtedly agreed to provide you with a specific amount after confirming your information and credit score. Along with these types of information, you will end up much better equipped when you're shopping for property.

4) Over borrowing
To borrow more than you may need is attractive, but you need to ask yourself whether you really can afford to repay it. It is simple: borrowing more = higher monthly installments - all this, even before looking at the cost of enhancements such as renovation and furnishings.

To prevent this error, analyze your current month to month expenditures: meals, transport, leisure, car loan along with other commitments. Next plan for the settlement costs (generally 2% - 5% of the cost), moving costs and also maintenance. Also, don't forget that aside from home loan repayments, you'll have to spend money for insurance too. The main idea here is to be able to continue with your life-style after making an investment.

5) Put it on paper
Protect yourself by putting your requirements and/or conditions in writing. Written agreements in most cases trump verbal ones. It isn't unusual for a condition to be overlooked, despite if you've made a request to the seller or his agent. As an example, when you request a toilet or a chipped tile to be repaired, don't simply take the seller's word for it. Indicated inside purchase contract.

With out a written statement, you could get into an ugly "he said, she said" situation. Remember, once the property is transferred to your name, any problems or issues that arise will be your responsibility. Don't allow the above miscommunication or broken promises ruin your home-buying experience and put all commitments, whether big or small in writing.

6) Read the fine print
Now that you have written agreements, take the time to review them before you decide to sign on the dotted line. Ask for the documents in advance so you will have time and energy to read them and ask questions, if required. Property contracts are long and dense but you have to know what you're engaging in. Be aware of wrong assumptions and poorly-written or missing clauses, as any matter overlooked may lead to higher costs or perhaps a void contract.

7) Smart investing
Are you currently getting a fair offer on the house? To make sure you are not being fleeced, ask your real estate agent to check on the selling prices which were recently fetched by other similar homes within the neighbourhood. The listing will usually show the span of time the property was on the market, its condition as well as size. Do remember that your house value is influenced by other houses within the neighbourhood . The worthiness of the very expensive house may be weighed down by its cheaper counterparts while a low-end house will benefit from the more posh properties.

8) House inspection
We don't mean performing it yourself, but getting a professional for the job. A home Inspector knows things to check for and provides you with advice on the state of the property so that you can are made aware of additional expenses, if any.

The house Inspector will inspect the home's wiring, plumbing and general structure and create a report of what must be done. This report holds weight being a negotiating tool when asking the seller to make repairs. Be sure that any last-minute items arising through the inspection is in writing and completed before you decide to take ownership of the property. If your seller agrees to make repairs, get your inspector to verify the work that was done.

If you are buying a house straight with the developer, they'll give you the Defect Liability Period upon Vacant Possession where they are going to rectify problems, if any, during the handover.

9) Perfection
No location is perfect and regardless how many precautions you are taking before purchasing a house, there will always be a couple of surprises. However, it's not necassary to let a few initial bumps ruin your house-buying experience.

Apart from that, don't overlook a great investment while waiting for the perfect one. The reccommended rule of thumb is to do your research when you run into something that really you prefer, don't allow it get away.

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