What should I do before considering buying real estate?

Buying property isn’t just about finding a home you like—it’s about ensuring financial stability, legal security, and long-term value. Doing thorough research and working with trusted professionals (agents, inspectors, attorneys) will protect your investment. Here is a checklist that may help you:

1. Financial Preparation

Determine your budget (down payment, mortgage, taxes, insurance, maintenance).

Check your credit score and improve it if needed.

Account for hidden costs (closing fees, HOA dues, renovations).

2. Location & Market Research

Evaluate neighborhood quality (schools, crime rates, amenities).

Investigate future development plans in the area.

Consider resale value and long-term appreciation.

3. Property Inspection

Inspect structural integrity (foundation, roof, plumbing, electrical).

Check for environmental risks (flood zones, natural hazards).

Hire a licensed professional inspector.

4. Legal & Contractual Considerations

Verify clear title (no liens or disputes).

Review zoning laws and restrictions.

Consult a real estate attorney for contracts.

5. Long-Term Planning

Define your investment goals (residence, rental, or resale).

Plan an exit strategy (resale or rental potential).

Monitor market timing (interest rates, housing trends).