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Buying a Property In Puerto Rico

 

Many people are excited about purchasing a Property in Puerto Rico since it is a fine investment for the future and a great way to build your life. The following information will make that Puerto Rico Home Buying process a little easier and act as a guide as you make perhaps the largest financial investment in your lifetime in Puerto Rico.

Prior to Buying A Home

It is important that you remain realistic when searching for Houses for sale in Puerto Rico or Condo for sale in Puerto RIco. Do not simply purchase your Home or Condo in Puerto Rico based upon the price or how much you like what you see. Consider things such as the distance it is from where you work, what the local school district is like, the amount of taxes you will pay and if there are any hidden fees such as condominium fees or homeowners association costs.

You should understand that Buying a Property in Puerto Rico is certainly a better situation than renting or leasing a House or Condo. You may find that paying a mortgage is actually less expensive than paying rent to someone. In addition, owning a Home or Condo in Puerto Rico means you have the freedom to make your own decisions with it such as any potential renovations or additions you might require.

Esteban Sarmiento, Sarmiento Realty | Puerto Rico Real Estate
Email or Call: 787-598-4024

Before you begin your Home search in the Real Estate in Puerto Rico, speak to a mortgage broker or your banks mortgage officer. They will determine exactly the price range you can afford and this makes your Home Buying Process more streamlined. Conversely, you may be limiting your possibilities by looking at Homes for sale in Puerto Rico that are lower in price when interest rates are at historic lows and you may actually be able to afford more Home or Condo for your money.

It is a good idea prior to committing to a neighborhood if you contact the police department and ask their advice about the safety of the area you are looking at - what they tell you may surprise you and save you problems in the future. You can also discuss these issues in detail with your real estate agent since they are very familiar with each community in their service area. This is particularly important if you have children.

Location, Location, Location

You should think twice before Buying a Property in Puerto RIco in area where there is too much home-sale activity. Too often, if there are many homeowners trying to sell, it is an indication that there is a problem with the area. Your real estate agent should have the details of any potential problem with the location so be certain to ask the tough questions and expect to get detailed answers.

To avoid Buyer’s remorse over your Property Purchase in Puerto Rico, be sure you pay careful attention to the local community and neighborhood. Prior to making an offer, you should drive through the area to determine the number of for sale signs that are visible. Check for local businesses that have closed or are closing, schools that may be shutdown and the number of rental homes rather than resident ownership. Any one of these factors could mean a serious decline in the neighborhood.

If you are interested in a specific Homes for sale in a Real Estate in Puerto Rico, it is always a good idea to speak with people living in the neighborhood casually discussing local details – renters and businesses will give a more objective opinion. Ask about certain Homes or Condos for sale, how long residents usually stay in the area, what the schools are like, and general living conditions.

Your Real Estate Agent in Puerto Rico will have access to all listings in a certain neighbourhood in San Juan, Condo, Dorado, Isla Verde and many others in Puerto Rico so always ask how much Homes or Condos have been selling for locally and whether certain neighborhoods have better Property appreciation than others. Depend on your real estate agent to provide you with as much information as you need so you feel secure and confident in your final choice for a Property in Puerto Rico. When the time is right to make an offer on a Property in Puerto Rico, you must trust your Real Estate Agent in Puerto Rico to assist you with preparing a fair and reasonable offer. It would be our privilege to assist you with your Home or Condo purchase in Puerto Rico.      Call Us Today! 

Esteban Sarmiento, Sarmiento Realty | Puerto Rico Real Estate
Email or Call: 787-598-4024