Buying your first home is always an exciting time. For many people, it is a huge milestone when it comes to your financial standing. But there are things you need to do first before you sign that sale contract.
Here are some of them:
Conduct a series of tests for harmful chemicals or radioactive gas
The property might be new, but the soil on which it stands is not. And there could be naturally occurring radioactive gases such as radon that can be harmful to your health if not dealt effectively. Radon gas comes from the natural decay of uranium in the soil.
Radon gas is carcinogenic and linked to lung cancer. Getting radon testing in Provo is important whether you are buying a new property. There are also other tests you can do such as the ones specifically for lead, asbestos, mold and meth.
Decide how you will pay the mortgage
Even for people who have the cash to burn, they still get a mortgage plan to help purchase their new homes. Now, becoming a homeowner is a long-term financial commitment.
Even if you have the money for the down payment today, if you do not know where you will get the money for the succeeding payments, you may want to rethink your decisions. While there are many ways to get out of mortgage debt fast, it is more important to plan for your payment before signing that contract.
Conduct a thorough inspection of the home
Apart from radon and asbestos testing, do a thorough inspection of the property. It might be helpful to have a home inspection expert to help you spot the areas or issues that could become a huge problem in the near or distant future.
For instance, if you are buying a newly renovated property, look for signs or water damage and pest infestation that could be very significant problems when you move in. Spotting these problems in advance can help you address the issues by asking the seller to fix them before you purchase.
When it comes to buying real estate, do not just go with your emotions. Be an active participant in the inspection and planning processes, so you will not regret your decision and end up losing more money.