Property Investment Croatia | Mistakes when buying a property

Posted on July 29, 2012

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It is difficult to determine which is the right time to move into such a serious investment like buying a new apartment or house. There are lots of obstacles and it is important to pay attention to some of the most common mistakes.

Do not think too much about the situation on the market. It is useless to wait for the market to touch the bottom because then you will never make a decision. Real estate market in Croatia is at the moment, unfortunately, faced with this problem. When choosing to buy you should always have the market situation in mind, but above all consider whether you are able to financially sustain a purchase. Too much thinking can sometimes take you in the wrong direction.

You always leave yourself room for financial maneuvering. In addition to costs such as loan and arranging, some unexpected expenses can always come up, so be smart enough to take such problems into account in advance and create a fund to handle these kinds of crises.

When you buy property in Croatia you should always have a qualified lawyer and an agent from a professional Croatian real estate agency. Despite the fact that they will check all the legal details and put together a favorable contract, always be sure to check all items of the contract yourself in the end.

Thoroughly check the property you intend to buy! Every day we read in newspapers about the various stories related to the problems after the purchase. Today you simply can not be sure whether the property you are buying is all right, even if it is a completely new building. Take some experts who understand construction with you to review and the real estate objectively assess the situation. Do not take risks and buy at the first sight only because you have fallen in love with your new house or apartment after the first inspection. This is a one way street towards the purchase of a bad property or failure to catch better opportunities. In addition to checking the property, check the neighborhood too. It makes no sense to live in hell with noisy and problematic neighbors.

Finally, always bear in mind that your finances are not limitless and have a cost plan before you purchase. You may think you can afford a loan for a house or apartment of your dreams regardless of the loan amount, but is there any sense to go into too much debt and later barely survive the month. Be humble and rational, do not you let your life in a new home lead you into a financial collapse.

via Property Investment Croatia | TRASA Real Estate Croatia – Part 5.

Posted in: Croatia