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First Time Buyers In Israel: How-What-Where-When?

Buying a home for the first time can be a daunting experience. In a foreign land or language, it can be utterly overwhelming.

Many of our clients found that first step was so frightening, it actually kept them in the rental market for longer than they had wanted. And others, who do muster the courage to set sail on their first real estate voyage often miss out on the full scope of what's available to them in terms of tax benefits.

GPI's mission is to simplify the process of buying a home and help clients get the most out of their purchase. The first point in the process is getting to know our client and help them hone in on some of the following:

The type of home we're looking for.

There are several options when purchasing a home; a traditional family home; duplex; garden apartment; penthouse etc. However, it's also the nuances that matter; outdoor garden or roof terrace; two floor house or duplex etc. Really honing in on the dreams of your future property widens the possibilities and seals the mission.

Essential features of the home.

The features of your home and its location have a direct impact on your lifestyle and family life. Understanding your needs today, with your potential needs for the future and matching those with your wildest desires establish the features you're looking for, from property size to neighborhood, local amenities and accessibility to the country beyond your neighborhood.

Securing the mortgage.

In Israel at least - the mortgage should be the very first page in the home owning story. Knowing how much you want and can spend not only sets the tone of your property search but with the mortgage locked down, you can strike fast on the ideal property when we find it.

In principle, a good ratio to adopt when deciding on your housing payment is a maximum of 35% of your gross income.

Taking the first step.

The right real estate agent should truly understand your needs and help you find your perfect home. They should also be skilled enough to assist with the negotiation of the entire process, helping you avoid any unnecessary pitfalls you may well encounter on your own.

GPI take a much more invested approach than your regular estate agent does. We are experts at guiding clients on all the finer details: Tax benefits and finding a reputable lawyer, to providing a wealth of knowledge regards contractors and various licenses. GPI are available to consult at the pre-mortgage stage, well beyond the time the last removal man has left the building.

The procedure broken down

· Consider your financial options and secure good financing

· Find your agent

· Find your home

· Make your offer!

· Find a real estate lawyer

· Obtain a home safety inspection (essential)

· Close the deal (or move on)

· Sign the contract of sale

Whether it's your first home or your fifth, GPI believe the process should be a time filled with positivity and anticipation. It shouldn't be riddled with stress or the obstacles and mistrust that come with language barriers and cross-cultural misunderstandings.

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