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7 Big Things That Can Decide If It’s A ‘Yes’ Or ‘No’ For Your New Home
(This is a contributed post).
Buying a house is a rollercoaster. You can fall in love with a property, appreciate all of the finer details, and then all of a sudden, the rug is pulled out from under your feet. It can be a frustrating and lengthy process, one that can also cause a lot of stress.
To save you some of the hassle that comes with buying a house, it’s good to have a plan in place. A list of points and things to consider can help you decide whether the property is the one for you. You can make the process simpler by making sure you’ve asked the right questions to avoid disappointment further down the line.
Looking for your next property? Here are seven big things that can help you decide if it’s a ‘yes’ or a ‘no’ for your new home.
1. Is the location right for you?
When it comes to finding a home, it’s all about location, location, location. While buying a house in an up-and-coming area could save you money, it could be worth the extra cost to buy a property in a place that you really want to live in.
For families, schools, the local community and safety are some of your key considerations. Creating a wishlist of features you’d like in your desired location can help make sure you’re buying in the best area for you and your circumstances.
2. Does the property have any hidden secrets?
When people sell their properties, they make their homes as presentable as possible. But beneath the fresh coats of paint and fixtures and fittings, there could be underlying issues with the property. Carrying out surveys, inspections and other checks on a property can help give you peace of mind that what you’re buying is as described.
Property inspections can be very detailed, and you might want to consider further checks. Drugs checks with Stewarts Drug Testing will make sure the property you’re buying is safe for your family and free from serious issues. Additional checks cost money, but it’s a price worth paying to avoid problems further down the line.
3. Can you afford it?
Affordability is another deciding factor when buying a home. It can be painful to come across a property that you love, only to realise you can’t afford it once you’ve worked out the finances. Before you set out to look at houses, you should have a budget in mind. Calculate your affordability using online calculators and scrutinise your budget very carefully. If affordability is an issue at the moment, you could spend some time working on your credit score to get it in the best position to afford the home that you want.
4. What is the garden like?
While the inside of your property is important, the outside also matters when it comes to choosing your home. Being able to enjoy leisure time outdoors, making the most of the sunshine, is something many people take great pleasure in, which makes the space you have available a consideration. Consider the direction the garden faces (with south-facing being the most desirable), as well as how much work will be needed to get your garden into the shape that you want. Landscaping can be a huge cost whether you choose to do it yourself or hire somebody, so it could be a big turn-off if you need to put a lot of time and money into your garden after moving in.
5. How much work is needed?
Some people like the challenge of renovating a home; others just want to move in and put their own stamp on the place. When deciding whether or not to buy a home, you’ll need to think about how much work needs to be carried out to get it as you want it. Some houses have the potential to become amazing spaces, but this comes at a cost.
If you’re happy to wait to turn your new property into your dream home, then the cost will be worth it. If your budget is tight, however, you might need to look elsewhere for something a little more complete. Take a look at some amazing home transformations to help you decide if it’s a route you want to take.
6. Is it big enough?
Size matters when it comes to buying a property. If you plan on expanding your family, or your current property is too small, you’ll need to find a property that meets your requirements. Buying a property costs money, and you could find that there are improvements you can make to your existing property to make it bigger and better suited to your needs. A lifetime mortgage can be one way to free up the funds you need to make some improvements that could add further value to your home.
7. Is the market right?
There can be good and bad times to buy a property. The best time to buy a house can depend on a number of things, such as the economy, and the time of year. You should do your research and pay attention to current trends, as well as nearby sale prices to make sure you’re buying at a time where you’ll benefit financially. When the economy has taken a dip, for example, you could find it difficult to get a favourable mortgage rate, as well as a lower value for your existing home. There will be pros and cons to buying at different times, so make sure you consider your options carefully.
Searching for a new house is an exciting time, but as a big decision for you and your family, you need to make sure that you’re 100% sure before you sign on the dotted line. Consider the things that are the most important to you in a property, as well as ask the difficult questions to help you decide if it will be a ‘yes’ or a ‘no’ for your future home.
