So you’ve decided to take the plunge and buy your first house. Congratulations – you’re already a third of the way there! Once you have made the firm decision to commit yourself to the long-term investment of owning property, you probably have plenty of questions on how to go about the whole process. So here are seven tips to help you navigate your way through your house hunting operation.
1: Do your research and define your search parameters
Everything is easily accessible online, with a click of a button you can browse through dozens of directories while you search for something that tickles your fancy. Do some research on your own to get a feel for the cost of homes in different locations, read up on these areas to gauge if it has the amenities that will meet your needs and check out Google Street View to see what your potential neighbours are like. This way you can get a feel for the type of area you’d like to move into and the type of house you need. Knowledge is power, so accumulate as much as possible before paying that real estate agent a visit.
2: Know your financial state intimately
Buying property is a big investment that will require your constant commitment. Before diving right in, check up on your money matters. Are you financially stable to support a first-time bond? Be sure to calculate your typical monthly expenses as well as the expenses necessary to purchase a new home, so that you can clearly define your budget and know what you can and can’t afford.
3: Keep the bigger picture in mind
As mentioned, purchasing property is a long term investment which makes it vital to consider your immediate and future housing needs. For example, if you’re a newlywed couple looking to buy your first home, before opting for that slick bachelor pad in the city bowl, consider how functional an open plan home could be in a few years when a baby is on the way. Make sure that your new home meets all of your immediate and medium-term needs.
4: Catalogue the wares along the way
Once you start viewing homes you’re probably going to scrutinize every detail, but don’t just rely on your memory, catalogue the wares in a methodical fashion. Here’s what to do:
- Take a camera along and photograph everything. You’ll probably view several houses, so a helpful tip is to take a photo of each home’s house number so that you know where each series of pictures starts and ends.
- Jot down notes about the house’s features. Note the key points such as size, design, and unusual features that could influence your final decision.
- Record additional notes about the location of the property, like its position in relation to amenities you’ll need.
- Once you’ve narrowed down your top choices, view these houses a second time with fresh eyes. You will probably notice features that you missed during the first tour, and this can also influence your decision.
5: Don’t waver when you find the perfect property, buy it
Finding a house can be a lengthy process, but as soon as you find the ideal property that’s perfectly suited to your needs and budget, buy it. Don’t be tempted to shop around after finding that property simply for the sake of browsing all options available to you.
If you’re looking for affordable property, visit MSP Developments for more information.