Factsheet: Buying a dwelling

You can navigate through a long and complex process by following these steps. Buying a dwelling can be a long and complicated process, but typically it involves moving through these steps:

Find out how much money you can borrow

Contact a mortgage broker to know how much budget you can borrow. They can search the market for the best available deal to help you maximize your borrowing power. You need to give details of how much you make money and your monthly saving. 

When finding out how much you can afford to put down as a deposit, bear in mind to keep some savings aside to meet fees and furnish your new dwelling. Get information about the different mortgages offering, and start considering whether you want a fixed or variable-rate agreement.

Determine your criteria

Define what you want in a property - whether you need a garden or parking, how many bedrooms you need. And if it's an apartment, choose a precinct on which to live, whether you need it to be freehold or leasehold.

Consider what you need from the location: infrastructure, local conveniences, schools, and shops that are necessary to you. How long do you intend to live on the property? Here are things you need to care about before rushing into a property purchase. 

Initiating the investigation

Begin examining the internet and local news, and contact real estate agents. Some properties sell before they are advertised on social media, which is still available on the agent's books. Register with the property agent and make an appointment to view the home you want to buy.

Remember, the market has many properties websites you can use to search, and Tan Long Land Real Estate Agent can help you find an appropriate property.

Visit some properties

It's hard to find the dwelling you need straight away, so be patient, and don't be drawn into edging over your budget if you are not interested in the first place you see. Home may be your biggest asset, so it is worth waiting until you find the eligible destination. 

Don't hesitate to ask questions when looking around a property or afterward. The estate agent should deliver essential details about the property and pass on any other queries to the selling people.

Making an offer

As you find somewhere you like, try to glean as much information from the estate agent before making an offer. Ask how long it's been on the market and if the seller wants a quick sale. Some websites have details of when a property was first listed, although this will only tell you if the seller has switched to a new agent.

Many buyers initially offer below the asking price, which is often accepted. Start low and negotiate with the agent to find a price that satisfies both parties. But if you want to be sure you get the property you like – and you think it is worth the asking price – you may like to offer the total amount straight away.

See more: 

Increasing credit quota hike, Vietnam property market

Vinhomes Smart City apartments for sale - Notable deals

Apartments for sale in Summit Building