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Step-by-step guide to buying a new house

Estimated reading time: 3 mins

Buying a new house can be both exciting and daunting, especially if you are a first-time buyer. If you are unsure on where to start with your journey to buying your new house in Malaysia, here is a step-by-by guide to help you along the way.

  1. Set a budget

Deciding on how much you want to spend on your new house and setting yourself a budget  is a great first step to take when getting started on the property ladder. Setting a budget will allow you to keep track of your spending and allow to put aside the money needed for buying a new house.

2. Decide on where you want to live

Choosing the location of your new house is extremely important, but can be difficult, especially if you are new to the area. When choosing a location in which you want to live in you should ask yourself a series of questions. Do you want to live in a city or in the countryside? What area can you afford to buy in? What facilities do you want to be close to?

3. Hire an estate agent

Hiring an estate agent can be a great help to you when it comes to buying a new house. Real estate agents will be able to show you all of the properties that are available to buy in an area, just like this Petaling jaya house for sale, and tell you a number of facts about the house. 

4. View available properties

Once your estate agent has shown you all of the houses that are available to buy in your selected area it is now time for you to view these properties. This may take some time, but make sure to attend a number of different property viewings, as this will allow you to see if the houses fit your wants and needs. Viewing a number of different houses will also allow you to see which one you get a feel for.

5. Choose a property

If the property viewings that you went to were successful you are now faced with the task of deciding which property you are going to go for. This is a very exciting time in your journey to buying a new house. You may want to view the house a number of times though, just to make sure it is the right one for you.

6. Make an offer

Now that you have decided on a house, it is time for you to put in an offer. Any house that is for sale will come with an asking price from the sellers. When putting in an offer you must make sure that yours is the highest out of all the bidders. You might also be asked to pay a small holding deposit. Paying this fee will show that you are serious about the purchase and may work in your favour against other bidders. 

7. Sort out a mortgage

If your offer was accepted, now it is time to really get the ball rolling and apply for a mortgage. Mortgages are a loan offered by a bank that can be extremely helpful when it comes to buying a house. With a mortgage you are required to make monthly repayments, so make sure you keep on top of these.

8. Hire a solicitor

Once you have agreed on an offer on your new house, you will need to hire a solicitor to handle all of the legal work involved with moving house. There is a lot of paperwork and contracts involved when buying a new house, so having a solicitor to guide you through it all is extremely helpful.

9. Exchange contracts

Now that you have sorted through and signed all of the paperwork required, it is now time for you to exchange contracts with the previous owner. Exchanging contracts is a vital step on your journey and means that you are legally committed to buying the house.

10. Complete the sale 

Once you have exchanged all the necessary contracts and gone through all of the final arrangements, it is time for you to close the deal. During this step you pay for the property and take ownership of it from the previous owners, meaning you finally have a new home.

11. Move in! 

The last, but definitely not least, step on your journey is to move into your new house. By this stage you would have probably packed up all of your belongings, ready to move them to your new house. Hiring a moving van and removal men can be a great help in bringing all of your furniture and belongings to your new property. This also takes away of lot of stress and makes the day even more exciting for you.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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