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When buying a home, about 90% of your purchasing decision will be based on emotion and only 10% on logic even thought i learned that buyers become experts in their price bracket for the period of time in which they are seriously looking for a property. They have an intimate knowledge of what they can get for their money.Real estate can be profitable when people have the knowledge to make wise investments.

You, as a buyer, will most likely have personally inspected every property that suits your requirements, including those slightly above and below your budget. After a period of intensive property searching, you will probably know instinctively a property’s value immediately upon entering the front door. You will also get to know the most active selling agents in your area and begin to glean additional information from them.

This knowledge can be extremely useful when it comes to negotiating a deal and can help you to avoid making a poor property purchase. My advice is to always make a decision after acquiring as much knowledge as possible about your chosen market. But this knowledge does take time to accrue where you cant make an early decision.

If you have only recently started looking and have found what you think is the perfect property, Consider the time it takes to find the right property in which to invest, be aware that your lack of knowledge may cost you – either by missing out on your dream home or by paying too much for it.

On the flip side you need to ensure that the property you are buying is going to be a good investment and that it is not going to be one of those that  makes you lose your money, but you cant keep looking for ages, you might get fed up and settle for something that is not ideal, or make the mistake of thinking that you simply have to pay whatever it takes to buy something… anything!

You need to ensure you gather as much information on what’s happening behind the scenes as possible, understand the sellers motivation and know how to negotiate your terms with the agent.  It is a full time commitment, it is hard, so maybe it’s time to call in the professionals…

Chady Melhem | Property Consultant

Call me for any advice you may need!

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Deciding whether you should buy or sell your house first should be based on your finances, moving timeline and the market conditions of your current and future homes. Buying and selling real estate are both stressful exercises. If you have the financial security to own two homes at once, then buying first is a convenient option that avoids multiple moves. The worst-case scenario would be to buy your dream home and then face the nightmare of selling your existing one for much less than you were counting on. There is a simple principle to use when deciding whether to buy first or sell first, but there’s a bit of groundwork you need to do before applying it.

Step One

It makes sense to buy before you sell. Find out how much money your bank will lend you and whether you can borrow enough to cover owning two properties for a period of time. If they will give you bridging finance, for instance, you’ll need to understand the costs and whether there is a time limit. If you cannot fund more than one property at a time, the answer to whether you should buy first or sell first is a given: you need to sell before you can buy.
If your bank will lend you the funds, then you need to consider market conditions before deciding to buy before you sell.  See step two.

Step Two

Fundamental to your decision is whether the market conditions at the time favor the buyer or the seller. Are you buying and selling in the same market?

– City and regional markets can differ substantially and getting the timing right (or wrong) will have a much greater impact on your financial position.
The simple answer is to do what is hardest first. If you are moving out of a market where it will be easy to sell and into a market where it’s difficult to find the perfect home, then I’d suggest that you buy before you sell. If you have the type of home that has a limited buyer pool, you might be better off selling first.
– If you are buying and selling in the same market, then market conditions will dictate whether it’s best to buy first or sell first.
In a buyer’s market you will find it harder to sell than to buy, therefore from a real estate market standpoint, selling before buying makes the most sense for people who are selling in a buyer’s market. You know your current home may take longer to sell, and you probably don’t want to or can’t afford to pay for two homes for an extended period of time. By selling first you will know precisely how much money you will have to spend and it will give you the luxury of time, You can wait until you get an offer you’re satisfied with, without the pressure of knowing you already bought (or are in the process of buying) a new house.

When in a seller’s market, it stands to reason that you are going to find it easier to sell, so in most cases, it’s better to buy before you sell. When you look to buy there will be a scarcity of property to choose from and fierce competition from other buyers. If you sell first you run the risk of a long lead-time before securing your next property. You may also have to rent in-between transactions, Having to move twice is perhaps the biggest inconvenience of selling first. It will cost more than doing a single move, and you might have to put some of your belongings in storage if your temporary housing can’t hold all your stuff. Many buyers in this situation find themselves tempted to make a panic purchase, which they could live to regret all too quickly.
In a seller’s market, there is another compelling reason to buy before you sell. When prices are rising, if you don’t buy back in quickly, you run the risk of being priced out of the market.

One of the ways I guide my clients through the dilemma of whether to buy first or sell first is to help them gain clarity about exactly the sort of property they will be able to buy. Often people have unrealistic expectations, so it’s important that they start from a position of knowledge. Even if you cannot get bridging finance and don’t have the option to buy before you sell, knowing what and where to buy before you even list your property for sale will give you a distinct advantage. It will allow you to hit the ground running the moment you find a buyer for your place.

Chady Melhem | Property Consultant

Call me for any advice you may need!

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Hopefully you won’t have to compromise at all.

Buying a home is a very emotional process. If you allow those emotions to get the best of you, you may fall prey to a number of common home buyer mistakes. It’s important to keep your emotions in check and make the most rational decision possible.
Property hunting can sometimes be a long and drawn out process; you know what you’re looking for but no one seems to be selling it. Once you make the decision to move  you may open yourself up to pressure from selling your current home or your tenancy coming to an end – with these types of pressures almost all of the buyers i come across have had to decide what to compromise on when buying an apartment to live in.
There are three elements to any property search (Property characteristics, Position, Price – we call them “the 3Ps”) and i find that typically one of these “Ps” will need to flex the most.
you’ll need to consider each of those “3Ps” in order to work out what to compromise on when buying an apartment.

Tackle price first.

You’ve probably already determined how much you’re willing to pay for a home, How much more  would you need to add to your budget to be able to afford your dream home? Is it achievable? if not, you’re just hurting yourself by imagining yourself in it. So, to avoid temptation, it’s best to restrict your house-shopping to properties in your financial neighborhood. If  you need to stretch yourself, you may as well do it now. If you can’t afford to push the budget or you are not prepared to, then move to the next “P”.

Let’s look at the property characteristics.

A property that is finished to a high standard will obviously be reflected in the price, Perhaps you need to surrender the requirement for off street parking or that spare bedroom (how often do guests really come to stay??). Or maybe you can live with that dated kitchen or bathroom for 5 years.  This is all about asking yourself how important location is and what you’re prepared to compromise on in order to live in your ideal suburb.
If you absolutely, positively cannot compromise on the size, style, scale or condition of the property, then it’s time to reconsider the position.

Position (location).

The position you choose will largely depend on your priorities, what you’re prepared to sacrifice and what’s non-negotiable.
“You’re looking at a very different lifestyle in a property positioned within 10 km of the CBD (central business district) compared to something that’s 25 km out.
Sometimes it is as simple as widening the search area. Many buyers are comfortable looking in an area that they are familiar with. If it looks like the budget won’t stretch to your dream home in your desired location, i encourage you to identify what it is that you like about your current locale and see where else you may be able to create a similar experience. Is it The surrounding countryside? The dominant architectural style? The local shopping center? Good schools? Your nearby friends? 

Property Buying advice

If there’s one thing I’ve learnt as an agent, it’s that every person is unique and has unique plans and priorities around home ownership. The key is to realistically consider your lifestyle and what’s going to make you happy, have access to public transport, cafes and malls? or not having access to the same amenities, but you’ll be able to buy a three- or four-bedroom home if you’re planning a family – give children more room to run around.?
The quicker you decide what to compromise on when buying an apartment, the quicker you will find yourself in your new home. The only alternative is to go back to step one and find yourself some more money.
Compromise is not always negative when it comes to home buying and is often a part of the search journey, you purchase a property only once you are armed with all the necessary facts.
To discuss how i can assist with your property search please contact me.  

Chady Melhem | Property Consultant

Call me for any advice you may need!

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الإسكان يستأنف قبول طلباتكم

نجح الاجتماع الثلاثي في السراي الكبير بين رئيس الحكومة سعد الحريري ووزير المال علي حسن خليل ووزير الشؤون الاجتماعية بيار بو عاصي بضخ الحياة مجددا في المؤسسة العامة للاسكان فتقرر استئناف قبول الطلبات واقرارها وبالشروط السابقة نفسها وبشر الوزير بيار بو عاصي من السراي بأن أزمة قرض الاسكان في طريقها الى الانتهاء واعدا بحل مستدام تقدمت به وزارة الشؤون بانتظار التوافق السياسي في مجلس الوزراء، وكشف الوزير حسن خليل أن وزارة المال ستمنح المؤسسة العامة للاسكان اعتمادا جديدا بقيمة ألف مليار ليرة للبدء بتلقي طلبات جديدة.

يشرح وزير المال أن المعيار الأساس للمستفيدين من القروض المدعومة هم أصحاب الدخل المحدود جازما أن الفوضى التي شهدتها السنوات الماضية لن تتكرر.

في اجتماع السراي نقل المجتمعون الى رئيس الحكومة رفض بعض المصارف الالتزام بتسيير الطلبات التي سبق وتمت الموافقة عليها، وفي الاتصال الهاتفي الذي أجراه الحريري بحاكم مصرف لبنان خلال الاجتماع طلب معالجة هذا الموضوع واتخاذ الاجراءات اللازمة بحق المصارف التي لا تلتزم، وكشفت مصادر مطلعة أن المجتمعين نقلوا للحريري الاسباب الجوهرية التي أدت الى أزمة القرض السكني وشرحوا له أن مصرف لبنان ضخ في المصارف اللبنانية خلال شهر ونصف 3 الاف مليار ليرة استخدمت منها المصارف فقط  1200 مليار لدعم القروض اما الـ1800 مليار الباقية يقال إنها اختفت.