Buying a property is often the biggest purchase that we make in our lives. Whether you are buying for the first time or the fifteenth time, it remains a significant commitment, which is why today we are sharing a few tips with you in a guide to property hunting.
Begin your hunt with a clear vision of what you need
Before you start searching and looking at what is available on the market, you need to work out exactly what it is that you need from a property. We stress the word ‘need’ there, as there may be many ‘wants’ on your list, but you must focus first on your key requirements.
It might be about the space that you require, the location that you need to be in or whether it will work as a family home. Think through the reason for your purchase and then take the time to come up with a specific list of requirements that are absolutely essential in your next home before your hunt begins.
Location means something different to everyone
Even though you might be seeking a certain location, remember that it can actually mean something different for everyone.
Whilst it is true that some neighborhoods can be in greater demand and therefore cost more to move into, this will not be the only deciding factor where location is concerned.
You might prioritise being near to leisure and facilities such as wigwam golf or perhaps excellent schools are the key here for you. You might visit an area and be struck by how handy it is for your commute, whereas someone else might enjoy being a few miles away from their family.
This being the case, when you are moving to a new area, take your time to familiarise yourself with all that is available. Do not assume that one person’s ‘best’ area will be best for you. Stick to your key priorities when you are looking around so that you can find the perfect location for you.
Think both short term and long term
When many of us set out on our property hunt, we have either a short term or a long term mindset, but we need to think about both in order to buy successfully.
In the short term, how would this house work for us in our current lives? What would our commute be like? Where would our furniture go and what would we redecorate when we move in? Importantly, if the market shifted next month, would this still be a viable option for us?
We then need to think longer term. Is this house likely to work for us if changes come along in our lives? How long can we see ourselves here? What changes are afoot in the neighborhood, or can we see an upturn or downturn in the property market. Of course with this one it is harder to predict changes, but it is worth thinking them through to help you to evaluate whether this is the right buy for you.
We need to know that this is the right house for us now, personally and financially, and that it makes sense for us to buy. Equally, if we plan to be here over the longer term, or have no option but to be here over the long term, is this still a sensible choice?
If you like what you’ve read here, please let others know of this post, blog, and site.
And thanks for reading! 🙂