6 Things to Consider When Buying a Home

March 27, 2022 by Nazli Kassem

We at Sakneen are committed to providing you with all the necessary information you need to make better decisions when buying a property. We know that your search for a home can be tricky, so today we are telling you some of the things you should look out for when buying a home.

  1. Think long-term

Buy a home that you see yourself living in for at least five to ten years. The home you purchase should accommodate to you and your families' needs for at least that long ahead in terms of features and space - you don't want to be uncomfortable in your own space.

2. Occupancy rate

This is the percentage of people living in a neighbourhood/project. The higher this is, the more expensive the home usually is. For this reason, you may prefer to buy while an area still has a lower liveability index, although this may not necessarily end up appreciating in value.

3. Net Present Value

The present value of cash inflows and cash outflows gives you a figure that represents what your return on investment for purchasing any home would be.

Credits to Project-Management.info

4. Set your own priorities straight

It may be difficult to stay focused on what your priorities or basic needs are. Creating a list of these basic needs for the home and the neighbourhood you want to live in should help you avoid expensive, unnecessary extras that you were never really looking for in the first place.

Another important part of this is setting yourself a budget and sticking to it.

5. Compare & contrast - extensively

In the age of the internet, and especially in the age of Sakneen, there is no excuse to not doing this! Make the most educated, well-rounded decision with an organised, smooth, and enjoyable home-search experience both online (with Sakneen) and offline. Compare unit types and prices, neighbourhoods and developers, and everything in between.

6. Don't settle!

If you are not totally convinced, re-consider - ask yourself, will I be happy in this home 10 years from now? If not, don't be afraid to walk away.

Rent, buy, or apply for real estate financing on your dream home now on Sakneen.