Top 5 Things to Look Out for When Buying a House
Buying a house is a significant milestone in your life. No matter if you’re a first-time buyer or an experienced landlord, buying a property is a big deal – and you want to make sure you get it right.
But, how do you do this? After endless hours studying home reports and countless viewings, how do you know you’ve found The One?
Thankfully there are several signs to look for to let you know you’ve found the perfect house. To help, here are the top five things you should look out for when buying a house.
Location
It’s true what they say; location is a crucial factor when choosing real estate. Not only does the location of a house greatly impact its value, but it’ll also affect you or your renters’ mood.
Things to consider include the safety of the area, noise levels, nearby schools, local amenities, and healthcare facilities. One important factor people often forget is to look at your commuting options. You don’t want to move somewhere only to add hours of torturous traffic to your day!
Condition
You should never buy a house without seeing it in person. Sometimes photos can be deceiving, so organising an in-person tour is a must.
While touring a house, you should be on the lookout for signs of water damage, foundation issues, leaks, and other structural problems. Take a copy of the home report with you and question the owner on its contents. It’s better to ask the uncomfortable questions at the first instance instead of finding a problem after buying a house you were too shy to question.
Functionality
While the aesthetics of a house are important, they should never trump its functionality. There’s no use settling for somewhere that has a small kitchenette when you need a large kitchen. While you might think it’s a good idea to compromise on the number of bedrooms you need, you must think of the future and what would benefit you most going forward.
Sit down and make the ideal list of what your perfect home needs. How many bathrooms? How many bedrooms? How much storage space do you need? Are you planning any additions to your family in the future? Do you want to have a home office? Keep all these questions in mind as you tour a house, and don’t compromise for looks over functionality.
Affordability
Setting a realistic budget is one of the most crucial aspects of buying a house. This budget doesn’t just include the purchase price of the property but other expenses such as taxes, insurance, utilities, and maintenance costs.
You won’t be able to enjoy your new house if you spread your finances too thin. Set aside some time to thoroughly understand your financial situation. If you’re struggling with this, look into mortgage advisors who can help with this area of planning.
Development
Another area you must consider is the future development plans of the surrounding area. Upcoming projects or developments can either enhance or detract from your property's value, impacting the future reselling of the house.
Although you may have plans to stay in your new home for a long time, it’s always best to be prepared. Investing in a property with strong resale potential can safeguard this investment and provide greater flexibility in the future.
It’s time to buy
Buying a house is a significant step in your life. Such a step requires careful consideration. You can make an informed choice by paying attention to its location, condition, functionality, affordability, and development options.
But remember, you don’t have to do this alone. There is plenty of support out there for seasoned buyers and first-time buyers alike. Your priority should be to find the perfect home for your future, so don’t be embarrassed to ask for help.
Good luck!
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