When buying a house, many people often care most about the "total price" of the house. When they see a number that fits their budget, they think that the house should be worth buying.
However, an important key point that is often overlooked is the subsequent "decoration costs".
Whether you are buying a brand new pre-sale house, a newly built house, or an older used house, the cost of decoration and renovation should actually be included in the total cost consideration.
Many buyers often realize after purchasing a house that the actual subsequent costs are far more than the total price they saw at the beginning.
A newly built house may require basic decoration, such as kitchenware, bathroom equipment, system cabinets, etc.; while a used house may need to update water and electricity pipelines, prevent leaks, renovate walls and floors, and even structural reinforcement, all of which may be a considerable expense.
For example, if you buy a used house for 15 million and then spend 6 million on decoration, or buy a new house for 20 million and then spend 1 million on decoration, which one do you think is cheaper?
Moreover, the location and convenience of the house worth 20 million will definitely be much better than the one worth 15 million in all aspects.
The most important thing is that the age of the new or old house and the commercial value of the location will directly affect the amount of mortgage you apply for from the bank, and the subsequent decoration costs are "completely" not included in the mortgage.
In other words, if you are lucky enough to buy a second-hand house at a super cheap price, but you want to modify it into your ideal appearance later, the huge decoration costs will all have to be paid out of your own pocket, and then you will have to spend a lot of time waiting for completion. So, are you really lucky in this way?
Moreover, most of the old second-hand houses are bought and sold by investors. Since they are not for their own use, they don’t care much about the subsequent service life. They usually buy cheap furniture, repackage it to make it look like the decoration of a million-dollar designer, and then sell it at a higher price.
Under the gimmick of renovating old houses, they deceive newlyweds or people who are buying a house for the first time and don't know much. But if you look closely, you will find that many pipes are in a mess. If problems are discovered after living in the house for a long time, it will cost a lot of money to renovate it again.
I will write a separate article on this more detailed method of house viewing another day.
This is because when most people look at a house, they only consider the "total price" they saw first as the top priority, and then keep telling themselves that they can only buy a house at this price. Only after the house is actually purchased and the ownership is transferred do they realize that a new round of challenges is just beginning.
Instead of always limiting your view of houses to the total price, the most correct approach should be to estimate the cost of subsequent decoration and repair while viewing the house and evaluating the price, and then compare the true total price with other items.
A further approach is to add the total cost of decoration that you can afford in advance, and use the lowest subsequent decoration costs to increase the total price when you first look at the house. This way, when you look at the house again, you should be more confident, and there will be more houses to choose from. Most importantly, the bank loan amount will be better!
This way you can know more clearly which house is the right one for you and suits your budget and needs.
Don’t let decoration costs become a source of stress after you buy a house. Remember to treat it as part of the cost of buying a house, so that you don’t find out that your budget has exceeded the limit after the house is delivered, or even affect your move-in time and quality of life.
When buying a house, you should not only look at the current price, but also make a thorough plan for your future living conditions. Only through comprehensive thinking and planning can you achieve the most ideal residence.
This website does not have those annoying ads that block the webpage and hinder reading!
If you feel that the article is helpful to you, pleasePlease help me before checking outClick here for recommended shopping guide, so that I can have a small profit and write more high-quality content.
