Things To Consider When Buying A Property
Buying a house can be a time consuming process, whether it is your first home or fifth. This is ultimately one of the most important financial decisions you will make, so it is essential to decide what features are important when looking for your perfect house and to ensure there are no hidden problems.
As most home buyers are looking to move now with the updated stamp duty and the mortgage schemes reflecting the current UK economy, here are some useful factors to bear in mind when buying a house. They may also help create a checklist of points when viewing potential homes.
Your finances
Before looking for a new house, whether this search is on the market or off the market, you should decide your budget first. This decision should be comfortable for your finances and goals.
Check how much savings you have which you can use as a home deposit. Consideration should be given to any extra costs that may occur during the buying process. It is worth also being clear about such details as whether you want a home with a certain number of bedrooms, a garage or a driveway, or a big garden. Once you agree a mortgage of the required amount, you will be able to look at properties within this price range.
Tip: During property search, make the price range slightly above the budget as some sellers are open to offers, do not be afraid to negotiate the price!
Location
Next on your checklist is location. We all look for a desirable residential area and for some it is essential to consider how far the nearest shop or school is, or how easy it is to access travel routes and commute to work.
House prices vary depending whether it is located on the main road, quiet countryside, or in a cul-de-sac area.
Tip: It is worth checking out if there are any ‘up and coming’ areas where house prices are reasonable and expected to increase over time!
Size
Depending on preferences and requirements, it is important to consider how much space the property offers. The size of the home can have a major impact on your plans, especially if you want to have an extension, or build an outdoor space such as a garage, workshop or summer house in the future.
During the property viewing, check the layout of the rooms and see how each room will work for you and your family.
Tip: Take a good look at the garden and driveway, and check if they can offer privacy.
Home appliances, fixtures and fittings
Most homes for sale come with some home appliances, fixtures and fittings. This is very useful if they are good quality! After all, every home buyer wants to get their money’s worth.
It is essential not to rush while checking the condition of the boiler, washer, stove or even a fireplace to ensure they are up to date, and suited to your preferences.
Tip: Many home buyers are let down by the way the water system works in their new home. Take your time to check the system for pressure and leaks – run the shower during your viewing to check it all works OK. Make sure toilet flushes work properly too, as it is quite a common issue that new home owners face.
Age of the house
Last but not least, the age of the house you are about to buy can determine your decision whether you want to purchase it or not. Older houses may have a very charming appeal, but they may require more maintenance work in the long-term, and you may need to put time and budget into renovating.
Newly built properties may not require immediate repair or maintenance, yet that does not mean you should ignore the condition of any property you will be viewing and potentially buying. This is why condition and homebuyer reports are crucial for an extensive inspection.
If you are looking to buy a home, download Houso. It is free, and you will be in control of your property search. You can also message home sellers directly and to arrange a viewing or ask questions online prior to viewing of your dream home!