Buying a home can be an incredibly stressful
undertaking, as it is probably the biggest and most important purchase you will
make in your lifetime. Setting some parameters from the offset can give you the
focus to determine what you are looking for and how to go about finding it.
Think carefully about your budget – and then
stick to it.
Buying a house can end up being quite an
emotional process so when it comes to what you can afford you need to set a
clear budget. It’s all too easy to get lured in by properties outside your
price range, especially if you don’t have a clear cut-off. It is worth
stretching yourself slightly, especially if you are early in your career – for
most people their mortgage gets more affordable over time. However, you need to
be able to weather interest rate rises and manage costs comfortably. Speak to a
mortgage provider before the search to ensure what you plan to borrow is in
line with what they are happy to give you. It’s also important to do your
research so you know what you can afford for your budget, and you can start
house hunting with realistic eyes open.
Get to know the local estate agents
These days many people will start their search
online. This is a great way to get a feel for what is out there and the prices.
But once you decide where it is you are looking and what you are looking for,
it can pay to think offline as well as on. People looking to sell their homes
will be getting valuations and talking to local estate agents. If you ensure
you are too, it might just be that you are one of the first to hear of a new
property on the market. Jamie Gray from Nexa Estate Agents in Portsmouth,
says “Local estate agents have years of experience of the full surrounding area
and are the first port of call as people value their houses so it makes sense
to check in with them regularly.”
Allow for growing space – think ahead
You are planning your future when you buy a new
home. It is a time to think about what you want for the longer-term as best you
can. Even if its not your forever home, people often end up living somewhere a
lot longer than they initially anticipate. Think carefully about the size of a
property, the number of rooms, the garden and the location – will it meet some
expanding needs? You may find that all of a sudden the years have passed and
you are still there!
Know what is important and where you can
compromise
There is likely be a type of house that you are
more attracted to. But be clear on what about a home is fundamentally important
to you and what is just nice to have. Certain features will obviously increase
the price. Unless you are right at the top end of the market, you will probably
need to compromise, so be sure on what bits you are happy to compromise on. Be
really honest with yourself about the importance of the type of house or
street, the size, number of rooms, garden, off-street parking, views, proximity
to public transport, etc.
Also consider the amount of work you are
prepared to take on. If you are happy to buy a project house make sure you
understand how much work and expense
will be involved
. Under-estimating this can be very costly physically and emotionally.
Train yourself to see beyond the decor
Ok, some people may be more creative than
others, but you must not be swayed by the decor of a place. It’s easy to get
sucked in because the style and furnishings of a house really suit you. But
will it still feel worth the price tag when all the nice interiors have be
taken with the owner? Equally, don’t overlook a great property because the
style is not to your taste. A home will quickly look very different with your
possessions and it is amazing what even a lick of paint and a change of
curtains can do.
Ask the right questions and get the right
insights
When you finally find somewhere that feels
right, before you get too attached be sure to ask all the right questions. How
long has this house been on the market, why is the seller selling, and what has it been sold for previously?
With the rate of development in the UK, it is really important to check the
plans for the local area. You’ll want to know if those lovely fields behind you
are earmarked for anything. Also, be sure to view the property at different
times, properly check out the neighbourhood if you are not familiar with it and
perhaps visit it in the evening. And of course, your second viewing should be
thorough. Use a checklist to ensure you don’t miss anything.

Finally, be prepared for the unexpected. The
head often gives way to the heart in the house buying process and you may find
somethings end up being more or less important than you thought. Good luck in
finding your home sweet home.

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