The 5 Most Important Steps to Buying a House in 2024
Are you thinking of buying a house that meets your ambitions and provides you with comfort and security? Buying a new house is a significant and important decision that is not repeated daily. Therefore, anyone who decides to choose a new home, whether for families or individuals living alone, must carefully consider and research the pros and cons of each choice, as this research involves various factors.
We will share steps to help you make smart decisions based on accurate information.
Table of Contents
1. Determine Your Budget

Setting your budget is very important because it helps you narrow down your search and avoid properties that are out of your price range. Follow these points to ensure a suitable choice:
1. Assess Your Income and Expenses: Determine your monthly income and fixed and variable expenses. This helps you understand your ability to manage the installments and other house costs.
2. Choose Suitable Payment Methods: Buying a house usually requires paying a certain percentage of the house price as a down payment, typically ranging from 10% to 20%, and it can increase depending on the installment system you choose. There are several payment methods:
- Long-term installments: with a low down payment and an installment period of up to 20 or 30 years with fixed or variable interest.
- Staged payment: the down payment is usually 10-20%, and the rest is in annual or semi-annual installments during the construction period, with the final payment upon receiving the unit.
- Interest-free payments: the down payment is larger than other plans due to the absence of interest, and the installment period is usually 3 to 5 years with monthly or quarterly payments.
- Mortgage financing from banks: the period can reach up to 30 years with fixed or variable interest.
3. Consider Additional Costs: When planning to buy a house, consider the additional costs that may arise alongside the basic house price, such as:
- Registration fees and taxes are paid separately when registering the house and are not part of the unit price but are related to the legal process of transferring ownership.
- Administrative fees: some development companies charge additional administrative fees separate from the unit price.
- Maintenance and equipment costs: there may be annual or monthly fees for upkeep or management services in some projects, which are not part of the unit price.
- Insurance fees: House insurance is an additional cost paid separately and varies depending on the house’s value and location.
After reviewing your budget and all potential additional costs, focus on choosing the right house shape and space that meets your needs and budget.
2. Choose the Design and Space of the House

After organizing your budget, the next step is to choose the shape and space of the house, which is crucial for balancing your current and future needs. Ensure that the house size and type you want to buy suit the number of people living in it. You can choose the house shape based on:
1. Determine your actual needs in the house design: Ensure the house has enough rooms, bathrooms, and storage spaces, and that its space is well-utilized regardless of its type. Many large houses are poorly utilized. Also, look at the project plan to see if the infrastructure, like the main sewer source and the compound’s main power panels, are close enough to be an inconvenience or could cause any damage to your house’s structure.
2. House Ventilation and Lighting: One of the most important factors to study and focus on when buying a house is its direction and that it is surrounded by large windows and balconies that let in sunlight as a natural source of airflow, reducing the use of air conditioners. Ensure there is enough space between it and the neighboring buildings.
3. Insulation and Heating: Choose a house with good insulation to save energy. Good insulation in the walls, ceilings, and floors prevents air leakage and maintains a comfortable temperature in all seasons. Double- or triple-glazed windows reduce air and external noise leakage. Ensure an efficient heating system, such as central or underfloor heating, to distribute heat evenly and reduce energy costs.
4. Outdoor Spaces: For villas and detached houses, ensure the garden meets your needs if you love parties. Make sure there is enough parking space if you have more than one car or plan to own additional cars in the future.
Your house design and ideals are completed with the appropriate location that matches your lifestyle, which is the most important criterion you should consider when choosing your house location.
3. Choose a Suitable Location

Choosing the right location for your house is one of the most valuable factors that affect your current comfort and your house’s future value if you decide to sell it. There are three factors that must be available in your house location:
1. Accessibility: Make sure the property is easily accessible from main roads and streets to facilitate daily commuting. If you rely on public transportation, check for nearby bus or metro stations. It is important to note that properties located near public transportation facilities typically see a 10% to 20% increase in value compared to similar properties that are not as well located. Visit the property at different times of the day to test its accessibility with a private car or public transportation.
2. Proximity to Entertainment and Services: Ensure the presence of good schools and universities in the area if you have children or plan to start a family. Ensure the location is close to hospitals and medical clinics. On the entertainment side, your house location should be surrounded by entertainment places like shopping centers, as more than 40% of people decide to buy based on the house’s proximity to a mall, restaurants, sports clubs, gyms, and clubhouses.
3. Safety: The safety of the residential compound is an important factor, especially for families. Ensure the gates are highly guarded, with security personnel moving continuously within the compound. A modern security system such as cameras, alarms, security barriers, and electronic locks should be available.
After ensuring the suitable location for your house, the step that completes a correct and safe journey to buying your house is understanding the contract and terms accurately. When buying a residential apartment, understanding all contract details is an essential step.
4. Understand the Contract and Terms

When buying a residential apartment, understanding the contract and its terms accurately is a crucial step to ensure your rights and avoid any future legal problems. Consider the following key points when signing the contract:
1. Check if the contract is valid. Look at its content and duration. Make sure it has a clear delivery date for the house.
2. Confirm that the contract includes the agreed-upon final price and details any additional fees.
3. Make sure the contract has a clear description of the property. This should include the total area, number of rooms, and other features.
4. Review the maintenance clause, as it is one of the most important clauses in the ownership contract. It specifies that the developer requests a maintenance deposit, ranging from 5% to 10% of the contract value. Keep in mind the maintenance differences you might have to pay in case of a shortfall in the maintenance deposit.
5. Defect Guarantees These are commitments from the developing company regarding the property condition. Check the warranty period, which can range from one to ten years or more and usually include:
- Ensure the infrastructure, such as plumbing, electricity, and sewage, is covered by a warranty.
- Verify the quality of building materials like doors, windows, and floors.
- Mechanical works: This includes heating, ventilation, and air conditioning systems, which should be under warranty.
Legal documents and contracts are the steps that complete your safe house ownership. Focus on them carefully to avoid any problems. It is advisable to collaborate with a real estate expert for the necessary advice and to ensure the legality and validity of the purchase process.
5. Hire a Real Estate Agent

Your final step to ensuring the previous four steps is to resort to a real estate agent, as they ensure you reach your house faster and in the living standard you prefer. They provide options that suit your needs and budget and offer guarantees that protect you from any fraud. They also provide consultations that may help you in future investments. Therefore, always deal with credible and experienced real estate agents and avoid individual brokers.
Buying a house is a critical step that requires great study and attention. This journey starts with an accurate understanding of your budget, choosing a location that fits your lifestyle, and the moment you sign the contract and become a house owner. With the many options in the current real estate market, it requires high focus and carefully considered decisions to ensure success in this important process.
At AFFSQUARE, we are here to facilitate this journey for you. With our vast experience and specialized team using artificial intelligence to find the best units that meet your needs and goals, we provide you with full support from the beginning of your search until you receive your new house keys. We guarantee transparency and professionalism in every step to help you achieve your dream of owning the perfect house.
Contact us today and let us be your partners in achieving this great accomplishment. With AFFSQUARE, make buying your new house an enjoyable and successful experience.