If you are making your first foray into the world of property buying, you may be wondering how to approach house hunting.
You may feel overwhelmed by the sheer number of factors to consider when starting out down this road – but, be reassured, this is perfectly normal.
According to experts at www.onlinemortgageadvisor.co.uk a good place to start the process is by asking yourself the following five questions.
Thinking carefully about the answers and being honest with yourself will help you to identify what you really want from a home and how to filter your search by location, property type and price range.
Here are the questions…
What am I willing to sacrifice?
While nobody wants to have to sacrifice something they want from their dream home, it’s often the only way you’re realistically going to find the right property for you.
Whether that’s sacrificing a south facing garden, a garage or a home office, it’s good to prioritise what you want the most from your property.
What’s my total budget?
When you’re buying a property, it’s a good idea to not just focus on the price of the property itself. It’s also important you factor in any kind of work that may need doing, whether structural or aesthetic, it’s essential to know what you can afford so you don’t go over budget.
You should also take into consideration additional costs such as stamp duty, mortgage fees, estate agent fees, solicitor fees and the monthly repayments for a mortgage. All these additional costs will add up and it’s important you have enough saved in the bank for this.
Is this the kind of area I want to live in?
Not only are you going to be buying a property, you’re also buying into a new life in a new area. It’s vital that you’re happy with the area you’re going to be relocating to, as you’ll hopefully be there for a long time.
It’s often a great idea to go and visit the area you want to live in and take in your surroundings. Good things to think about when looking at the location are the nearest shops, post office, schools and gyms as these are all things you need to ensure you are happy with.
How close is the property to amenities?
Expanding on this further, as well as liking the area you’re in, it’s also important that you’ve got all of the amenities you need on hand. If you have a family, it’s likely you will need to be in the catchment area for a good school.
If you’re younger, you might want more entertainment and hospitality venues, or good transport links.
It is also wise to consider commute time, if you are moving to a different area, it’s a good idea to factor in how long it will take you to get to the office, as this can help to be a deciding factor on which area you are most interested in looking to buy a new property.
How easy is it going to be to put my own stamp on the property?
When looking around a property, you always try and imagine how it would look with all of your things in it.
If a property has colourful wallpaper, funky flooring and is tired looking inside with the kitchen, bathrooms and bedrooms all needing to be redone, it’s hard to imagine yourself living there so you may need dig deep in order to visualise it as your future home.
In addition to this, having to redo bathrooms and kitchens can come with a hefty price tag which will need to be considered in your budget.
