1 – Make a study on Price and Potential Revaluation of Real Estate
In areas with high demand, there are few options to get discounts. In order to assess if the price put by the seller is adequate, in addition to seeing the house, it is useful to know the average price of the area and other houses with similar characteristics. Usually, the greater the offer, the greater the ease of negotiation for the buyer.
If, on the other hand, the real estate market presents itself with a greater demand than supply, in the case of some districts of the big cities, it will be the buyer who must adjust to the offer without too much possibility of negotiating for a price decrease.
It is important to do a good price and revaluation analysis because buying a real estate property is one of the most important investments. Typically, over time, a smaller family will move to a larger one, because of family needs, for better work, or simply for saving more. We recommend that, if the housing is intended for investment, analyze the prospects for growth in the most modern and dynamic areas of the city.
2 – Review All Taxes Associated with Purchase of Real Estate Property
The purchase of housing has several fiscal effects and it is taxed by different taxes, which are on the rise. The buyer of new housing must bear a VAT in most cases, including garages and annexes that are conveyed together, for a maximum of two parking spaces, and for homes with some protection regime.
If the property is second-hand, the buyer is obliged to pay the property transfer tax, which varies according to the autonomous community over the sale price reflected in the public deed of sale, unless the value verified by the treasury is greater; in this case, the percentage will be applied on the value verified by the treasury. All transactions subject to VAT are formalized in a notarial document for the fixed and for the variable fee.
3 – Never Rush
Since it is quite harder to find a house and if you know precisely what you want and where you want, go for it. Of course, you will not like to miss a good real estate opportunity, but you never rush to buy it.
It is important to know the market objectively before making a decision, and giving a quick response when the opportunity arrives might be costly decision.