What Should I Contemplate When Buying a Property
Making the decision to move into a new home is often coined as the ‘big one,’ and is accompanied by some very considered deliberations. So what do you need to think about when scouting out a new property, and what are the most important things to contemplate? We explain the top 9 factors that we believe are worth bearing in mind when buying a new property.
- Future Plans
The home may seem like a perfect fit for you at the moment, but does a wedding or an offspring feature in your five year plan? If you think that you could outgrow the property then it could be wise to hold off and hunt for something more suitable to your plan.
- Pocket Depth
The financial burden of purchasing a new home is an obvious deliberation, but one that must be considered thoughtfully. The costings of deposits, mortgages, legal fees and more don’t come cheap and although the prize of home ownership lies at the end, you need to guarantee you are in an economically secure position to proceed.
- Against The Clock
The search for your perfect home can be a lengthy process, especially when you are juggling it around your regular working life. Take the time to listen to your head and not your heart; don’t be afraid to walk away from a defective deal because it doesn’t fit within the time constraints you originally set yourself.
- The Right Agent
There are a large number of operational national estate agents, so it is important that you pick the right one who is going to look after you and help you through this sometimes stressful situation.
- The Home Itself
Having an immediate affection to a property is very important. Research has indicated that it can take as little as 30 seconds for a buyer to make their mind up whether they like a property, so if you don’t have an instantaneous connection with the home, there is a good chance it is not the one for you.
- Location
Are you moving to a new town or city, perhaps because of a change in your career? Is the new setting going to be commutable to your new job? Is it too far from your family and old friends?
- Neighbourhood
Do you the like the area the property is situated within? Have you researched crime levels in the neighbourhood and are the local shops and pubs close enough for your preferences? Are you neighbours of a similar demographic? No one likes a noisy neighbour.
- Development Potential
Is the property already the finished article? If you are seeking a completed home then its happy days, but if you are interested in putting your own stamp on the place and possibly developing or extending the property, then you may want to look elsewhere. You may also want to establish whether planning restrictions could obstruct developments.
- Garden
The house and location may be perfect, yet you are unwilling to take the plunge because of the lack of garden or outside space. If the garden is listed highly on the features you want included within your dream home then it’s time to move on, if not there is a high chance some sacrifices may have to be made along the way.
Josh Cousens – abbotFox
Image sourced from Flickr – John Fielding
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