Buying a new home is a very big decision, and one that should not be taken lightly. Whatever your reasons for wanting to buy a new home, you need to put a lot of thought into beforehand. Here are some of the main things you will definitely need to consider before taking the leap into the property market.
Location
One of the biggest cliches you’ll hear when talking about property is, location, location, location. But this phrase is used so often for good reason. Even if you find a house that you love, you won’t be happy living there if the location is wrong. You need to think about your situation and make a list of your priorities. If you have children, then schooling is one of the most important things to think about when choosing a location. Competition for places at good schools is exceedingly fierce these days. Priority is given to students that live within a certain distance. If you live outside the catchment area for your chosen school, you are unlikely to get your children in. If schooling is your priority, then you can use a school finder to identify properties that are in the catchment area of your chosen schools.
The amenities that are nearby are also very important when choosing where to buy your new home. You don’t want to find yourself having to take time out of your busy schedule to drive an hour to the shops, for example. The same can be said of work opportunities. You may be planning to keep your current job and move somewhere nearby, but if you are wanting to relocate completely, you need to see whether there are jobs in your field nearby.
Condition
Once you have chosen the location for your new home, you can start viewing potential properties. At this point you will need to decide what condition you are willing to buy a home in. It might suit your needs to buy a house that is newly decorated and move straight in. This will inevitably cost more money and so you might want to explore the idea of buying a house that needs a bit of work. For example, you could get a reduced price on a house that is lacking in amenities, and then put in a new kitchen and bathroom suite yourself. Redecorating an outdated house will take a bit of time and money but could save you money in the long term.
Price
Price is obviously the big one. This will depend mainly on location and condition. The best way to decide on how much to spend on your new home is to look at your finances and work out how much you are able to spend on your mortgage. You can then use these figures to choose the properties that you will view. Before you start looking, seek the advice of banks and mortgage advisors to help you work out exactly how much money you have available for buying a new property.
Now you’re ready to get out there and start looking, it’s always a good idea to take the whole family along to viewings to make sure everybody will be happy in your new family home.
XOXO
Debbie
