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Whether you have decided to buy your first home, or this is your entry into the profitable world of real estate, it is very important to be prepared for this significant investment. It is interesting that whatever your starting position, buying a property ensures some future, whether it is a future of housing or income.

We will give a brief overview of the best practices to follow when buying your first property, and of course what questions to ask yourself before making your final decision.

At the end of reading, we expect your questions and interests, so that you can start your new life adventure together as soon as possible.

Five questions and answers that will make your first purchase successful!

1. Let’s start with finance and the question: "What is my budget?"

It's time to take a look at your budget! If you have decided that your next investment will be real estate, you must understand what kind of budget you have at your disposal. This includes making a list within which you will place clear and realistic frameworks for the entire real estate investment. Start with the real estate value and determine your range, then move on to an overview of the costs of renovations and improvements, inside and out. Imagine what is needed for your dream home and make a list that will follow your wants and needs.

If you plan to take out a loan for this adventure, you can do so in several banks in Montenegro. According to data from the Central Bank of Montenegro for 10 commercial banks, the cheapest home loans are in Ziraat Bank (4.76%) and NLB (4.75%). All other banks sell home loans at an effective interest rate higher than 5%.

2. Set clear goals and expectations!

One of the most important practices is defining your expectations. People often get fooled and go on blind quests, which first, take too long and are exhausting for everyone involved. The smartest move is to define your goals and expectations before embarking on your search.

Of course, you should be flexible, but it is wisest to really work on planning and mapping for such significant and large investments. You will thank yourself for these decisions and moves.

Spend some time on the Internet looking at property plans, both the exterior appearance, as well as the organization of rooms and spatial dimensions. This will allow you to get a better understanding of the framework you want for your new home or start-up business when choosing your property! Even at this stage of the purchase, you can consult a real estate agent, who will suggest the best current market offers, and help you build a vision for your new home/investment!

3. Find an expert partner to help you with your search!

If you are aware of your budget and have set goals and expectations, it's time to find someone whose knowledge and experience will be the perfect partner for your wishes. When it comes to real estate, your best choice is an experienced agency that knows the market in which you will make your purchase.

You have only done one rough part of the work. Time to present it all to someone who will know exactly where to look. This is exactly one of the main reasons for using a real estate agent. Think of it as a trip, you bought a ticket, you know where you are going, but you need a pilot (agency) and a guide through the destination (agent). Take advantage of the great opportunity to find the property of your dreams in Montenegro with the help of Amfora real estate agency.

The real estate agent will make sure to find the ideal property in relation to your budget and wishes, keeping your best interest in mind. Save your time, money and nerves in the search process.

4. Key questions to pose before forming the idea of your ideal real estate!

Start with the size you would most like to own. After that, think about the number of rooms and their individual approximate sizes. It is important to know how new or old you want the property you are buying to be. It is important to make a list of things that should be checked before closing the sale itself, such as checking the roof, plumbing, electricity, etc. (everything that you might overlook if you get too excited over how seemingly perfect a property is)

A large number of green buyers decide to make their first independent purchase, and they usually regret it because they believe that desire and good organization are enough. However, while it is extremely important to know your own needs and capabilities, it is even more important to know the market. You cannot gain knowledge of the market with your first purchase; therefore, the best option is an agency, which will ensure that all important questions are asked before the purchase happens.

You will be more relaxed knowing that your wishes are in capable hands! Therefore, your ideas in the right hands will become great and promising idea goals! We suggest cooperation with an agent in this step as well, who, with the help of knowledge and experience, can guide you into the world of real estate.

5. When all is said and done, is it worth it?

It is very important that at the end of the day you know whether investing in real estate is profitable for you at that moment. What we guarantee with experience is that real estate is the safest and most stable investment, but the question is whether they are the right thing for you and your budget and needs now.

If you have come across this text, you are already halfway to finding out, the second part of the journey is a consultation with a real estate agency. You'll get the best advice from people who live within the market you want to explore more deeply. It is essential that after the decision, you compare your possibilities with your wishes, and approach this search seriously.

What we are sure of after a long series of years on the market is that real estate always pays off, especially compared to other investments, but the market is changeable, and it is important to understand the currents that are constantly changing within it. For this understanding, it is best to find an interpreter within a trusted agency.

We wish you the best of luck in this new chapter!