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Things To Consider Before Buying A Home

16th June, 2017
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The first step in purchasing a home is identifying what is non negotiable and what can be compromised. Your preferences will probably change a bit along the way but it is good to make a list of the things you are looking for in a home before you start viewing property.

Which home is for you?

Choosing a home is not easy, especially for first time buyers. Even when you think you already have an idea of what you are after, you will still experience moments of doubt along the way. This is not only due to factors such as the budget, but very often due to other factors like what kind of property is best suited to your needs or what location is the most convenient for you.

First of all, you need to weigh the advantages and disadvantages of different property types, then you need to think about other factors like location and budget.

We understand the struggles that finding the right home entails. Sometimes you can do without having certain desired features in your home, or certain conveniences, however at other times there are things that you cannot sacrifice.

For this reason, we have listed important factors that you should take into consideration before buying a home. We have also compiled a list of questions to ask yourself in order to help you to better understand what you are looking for in a home, and what are not willing to compromise.

1)  For How Long Is The Investment?

Before buying a property, you must always ask yourself: “For how long am I planning to live here? For the long term or for a few years?” The easiest way to go about asking yourself this question is perhaps: “Where do I see myself in 5 or 10 years’ time?”

Will you be selling this property for a profit in turn for another property or do you see yourself settling in this property? This is a very important question to ask because it will not only help you set your budget, but it will also help you consider other factors that determine whether the property type and location of the property will provide a good turn-of investment (profit).

2) What Is The Condition Of The Property?

Are you looking to buy a modern property with modern furnishings; like the doors, tiles, walls etc. or are you looking to buy an old property you can refurbish to your liking?

Chances are that you will very likely need to make changes to the property to make it suit your personality and style better. However, finding a move-in ready home can be a great time-saver and will allow you to make changes after you have settled in your new home.

Therefore, it is good to identify whether you are ready to compromise a move-in ready home for a home that will likely need some renovations.

3) How Much Is Space Important To You?

Try answering these questions:

  • Are you content with one storey plan or more?
  • Do you want an open-plan kitchen living dining?
  • Do you want a big kitchen?
  • How many bedrooms would you like to have?
  • How many bathrooms would you like to have?
  • Would you like to have a garden/yard/pool?
  • Do you think you will be needing a bigger home in the future?
  • Would you like to have access to roof or have a washroom?
  • Is having a garage non negotiable?
  • Are there any rooms in the house that you are not willing to sacrifice?

Understanding how much space you are satisfied with is very important in determining what kind of property type is for you. Is an apartment more fitting for your lifestyle and needs, or would you rather extend your budget to purchase a ground-floor maisonette with access to garage?

If having a big home is inconvenient for you because of maintenance and cleaning, then would probably be more content living in a small yet spacious apartment. On the other hand, if you’ve answered most of these questions in the positive, then the kind of properties you are after are probably detached houses, townhouses and house of characters.

4) How Much Is Location Important?

For some homebuyers, the home itself matters more than the location, however for others the location is an essential factor that plays an important part in choosing a home.

Here are some questions to ask yourself about location preferences:

  • Do you already have a particular locality in mind?
  • What do you look for in an area? Do you want to live in a quiet area that is cut off from city and village centres or do you want to live close to amenities and other public spaces such as schools?
  • Do you want it to be close to your workplace?
  • Do you want to be close to the beach?
  • Would you mind having your home in a corner or in a main road?

Ultimately, you have to keep in mind that sometimes compromises have to be made. You might find the perfect home in an unlikely location, or find a home that isn’t exactly what you were looking for but its location is perfect.You might not have to compromise anything at all, but you don’t have to be alone on your journey. We are here to help you every step of the way.

Get in touch with us today and we will be more than happy to help you find the right home for you.

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