Buying a house is no child’s play. You have to consider many things if you want to make full use of the money that you have, after all, coming up with that sum of money is not an easy feat. Even if you have an idea of the kind of home that you want, it does not mean that you solely depend on your gut when choosing a house to buy, neither does it mean that you should just sign the agreement on impulse. It is not as simple as that.
Sometimes, you may not be able to spot minor imperfections that can create a big problem in the future. In fact, what you see might come off as something completely different from the facts that you have heard of. And certain sellers aren’t kind enough to inform you of any irregularities or defects that the house may have. You, therefore, need services of people who are trained to verify and assess the house before purchase.
There are many professional home assessors in Singapore. Assessors scrutinize the entire building and come up with a report which will help you decide whether to buy or not. Since you cannot possibly inspect all the aspects of the house and estimate the cost, it is best that you hire professionals to do this task for you.
Below are five reasons why you should hire home assessors before you make the final decision when purchasing a house.
To Know the Actual Value of the House
Bargaining is not the best way to come up with the right value of a house. People are gifted differently in this area. If you are a poor bargainer, and the seller is gifted in this area, you will lose a lot. The best and scientific way to estimate the value of a house is to hire an assessor. These professionals deduce the worth of houses depending on their market value, the age of the building, neighbourhood and depreciation.
You may be clueless about these factors, but with the assistance of a professional, you will surely be able to understand the reasoning behind the value of the house.
Prevent Expensive Repair Work
It is not uncommon to buy a well-furnished house to only have it crumbling after a couple of weeks. Unscrupulous sellers can repaint rotten and pest-infested woodwork to impress you.
The best remedy, in that case, would be to a pest control company in Singapore to give a quotation for the damage. It is, therefore, a wise decision to get the services of an assessor so that your hard-earned money will not go to waste.
Determine the Amount of Payable Tax
Homeowners are among the highest taxed people in Singapore. Do not add unnecessary burden to your finances by paying more tax than you should.
This is when a professional assessor comes in, with one, you will be able to determine the correct amount of tax that you should pay for.
Calculate the Mortgage of your Home
The mortgage is the most intensive recurrent expenditure for many people nowadays. If your mortgage is higher by 1%, you will lose a lot of money in the long run.
A professional assessor can help you come up with the actual worth of the home so that you will not pay what is not necessary. In other words, the assessor’s report will determine how much the bank will lend you and the period that you are given to pay for the home.
Professionalism
The government usually registers professional assessors. And if you pick anybody without a name to themselves to do the report for you, or if you even decide to do it on your own, the report might end up being rejected by the bank.
Banks are usually more open to giving loans to those who are experienced in this field as they want to make sure that they don’t lose out when they decide to lend money out as they would eventually want to profit as well. It is, therefore, necessary to seek services of a professional so that you will not regret it later.
Conclusion
Buying a home without a professional assessor is a shot in the dark. You can lose a lot because you can end up with a home whose value is exaggerated, which ends up with you paying more for mortgages and taxes. The home assessors’ fee is worth the work they do.
