5 Steps Towards Purchasing & Owning Your Own Home/Property/Land

The biggest investment one can make in their lifetime is purchasing their own home, especially we see more and more young people who apart from getting married, working hard towards owning their dream home which they bought through a financial institution or their own savings or stocks.

But there's more that goes into that just envisioning one's dream home or even purchasing that home, and before one can actually own their dream home or any type of home or property or even land, for that matter.

I would love to share with you five (5) steps one can take towards purchasing and owning their own home, property or land, such as, but not limited to:-

1.) - Title search of the property/deed - Whether you are purchasing it through a real estate agent or private, direct from the owner themselves, you first needs to make sure that it is cleared of all encumbrances or debts that the former owner neglected to complete, as if you purchase a home or property, even land, where the former owner still owes outstanding fees, you are most likely to have to pay up everything from their debts to your full and final payment of the home or property or land. It is wise to do a title search of the deed, before making your purchase.

2.) - Financing for the purchase of the home/property/land - If the search comes back in the clear, or you are given the green-light, that there are no outstanding debts to be paid, then you can go ahead with the purchasing of the home/property/land. Most persons, may not have the full asking or purchasing price for the home/property/land, so you need to think in terms of going through a financial institution or mortgage company with the purchasing of the home/property/land. I would suggest that you look for a financial institution or mortgage company that does not incur a high interest rate, especially if your are not a young couple.

3.) - Hire an attorney - Whether you are purchasing the home/property/land through a financial institution, or a mortgage company or from your years of savings or stocks, you need to hire an attorney to work on your best interest. The attorney prepare the deed of sale or mortgage deed for you and the former owner to sign.

4.) - Transfer of ownership from former owner to you the new owner - After you have going through searching the title deed and everything is in the clear, obtain financing from a financial institution or mortgage company or even from your own savings or stocks, and finally signing all agreements for sale and you are given your own deed for the home/property/land, then you are officially the new owner of the home/property/land and you are free to do whatever you want.

5.) - Home/Property Insurance - You thought everything was complete and that is not so, because after transfer of ownership to you, there is a final step or phase that most people neglect, which is having their home and contents insured, which is very important. Having one's home and contents are very important and I will continue to say this again and again. In the event that your home is gutted by fire, or damage during the storm or any natural disaster, and you are not covered, you can end up in a lot of problems, run from here to there, looking for compensation or funding to repair your home. You need apart from the deed, a valuation of your home and a list of the contents that you wish to have insured with a reputable insurance agency or company.

There might be more that one has to do in purchasing their dream home or property or even land, but I hope that these five steps or tips that I have shared with you, help you with purchasing your home/property or land; as well as do not forget to have your home, property or land and even contents therein insured, for your own convenience. THANK YOU.