Things You Need to Know When Looking to Buy Your First Home
Whether you’re looking for your first home or somewhere to settle and start a family, there are many factors that need to be taken into consideration.
Due to increasing remote working and changes in the market at the moment, there are many things to keep in mind when looking for that first property.
Before buying a property your first step should always be your budget. You should have a rough idea of how your money is and what you could afford on the current market.
Carry out some research online and decide what features you must have in your home and what you don't need. The more things you want e.g., big garden, modern bathroom, etc. the higher the price will be of property you’ll be looking at. You need to decide if this home will be short-term or long-term. If you’re investing in a short-term property, then you don't need to spend that much on a lot of things.
Keep the extra costs in mind too, such as mortgage broker fees, solicitor fees, etc.
When viewing a property, ignore all the decor around and try to picture what you could do with that space. Is it big enough for you? Can you change the layout to fit what you want?
Consider the future as well, is this a long-term house? Is this property good for future plans e.g., children? Does it have resale value?
Location is just as important as the property itself. Is there a nearby town? Transportation links, restaurants, parks, local schools, supermarkets, etc. You need to consider what’s near you. Do you have a car? Are you okay to drive a bit to get the essentials you need, or do you need things to be local?
Is the area up and coming? This can increase your property's value if you plan to resell. Is it a noisy area? Do you get a lot of traffic? These are all important factors to consider based on your lifestyle and future plans.
You could miss things in just a 30 min viewing. Make sure you view the property multiple times; you don't want to miss anything that the sellers may not have disclosed. You should ask as many questions as possible and find out key things like, is there damp, quality of plumbing and wiring, power points, roof condition, the age of the boiler, etc.
With these simple tips, you’ll be able to ensure your first-time property is right for you and your future plans.
Looking for your first home? Our expert team can assist, get in touch here.