Before you even think about what type of home you should buy, or consider applying for a mortgage, you need to think about whether buying is the best option for you. You do have the option to rent a property instead. There are pros and cons to owning a property that you need to think about carefully.
Once you have made the decision to buy a property, you need to plan carefully, and make sure that you end up with the best possible home purchase at the end of the day. Here are five important things that you need to consider when you are buying a home.
What sort of home can you afford?
We have all seen that idyllic home on the front of a magazine that we dream of living in. But you have to be realistic about the type of property you can afford to buy. It may take years to save up the deposit you need, and then you need to secure a mortgage agreement. You should do this before you start looking for a property seriously.
What is your preferred location?
You may not always be able to buy a property in the perfect location, but you do need to make sure that you will be happy in the area, and that it has all of the facilities you need. When you are looking at areas where you would potentially like to buy a home, consider aspects such as crime rate, age demographic and the quality of local schools, if you have children.
Are there any local restrictions you need to know about?
There may be local restrictions that restrict actions you can take, such as making changes to the property you buy. This is especially likely to be the case if you choose to live in a conservation area. Always check with the local council, to see if there are any restrictions in place, before you commit to buying a property.
What are the neighbours like?
It does not matter how great a property is, if the people next door are likely to be the neighbours from hell, you should probably not purchase it. If you have the confidence to do it, it’s worth knocking on a few doors, just to see exactly who you will be living close to, if you buy the property you are interested in.
What is the condition of the property you are looking at?
It may be that you are willing to take on a certain amount of renovation work after you buy a property, but it’s still important to know about the exact condition of a property, before you buy. Having a survey carried out, and getting a dilapidation report on the property, can provide you with all of the information you need.
Buying a home is a major investment, so you need to make sure that you take your time, and consider all of the aspects we have highlighted. Doing so helps to make sure that you buy the home which is best for you, as well as being a good investment.