Whether it's your first home, or your fourth, navigating the property market can be a daunting thought, and buying a home can be a complex and lengthy process. However, if you can understand the essentials, you’ll be less likely to be taken by surprise along the way, making your home buying process smoother.
When it comes to house hunting, there are several factors to consider when it comes to house hunting – from thinking about location and the neighbourhood, to the local amenities available, and most importantly, the quality of the home itself.
To help make your home buying process easier, we have compiled a list of the top five things to consider when buying your new home:
Budget:
When it comes to finding a house, your budget is generally the first thing to think about. It will be easier to find a property once you have agreed on your budget.
Researching what attributes, you want your home to have – is a driveway a must-have? Or a garden? How many bedrooms do you need? Asking yourself these important questions will help you visualise the type of home you want and what you are or are not ready to compromise on.
It’s also worth extending your budget as far as possible if you’re intending to invest in a home that you’ll spend many years living in. It may be worth thinking about making use of government schemes, such as ISAs, which will help you to stretch your money further and achieve your homebuying goals.
Space:
In the last year, many buyers have changed their homebuying priorities. The "race for space", prompted by changes in the way we live post-pandemic, has made many buyers prioritise bigger gardens and more room for working from home.
If you’re viewing a house, try to imagine how you can make the rooms work for you, how things can be moved around, and how you can make the most of each room in your daily life.
Think about the future too. You may want to start a family or have friends or family members visit for the holidays. Ensuring you have a home big enough to accommodate changes in your living circumstances is important. On the other hand, looking for a property with a high resale value in a desired or up-and-coming area will give you the option to sell, should the time come.
Location:
One of the first things we think about when looking for a home is its location. But, beyond merely wanting to buy a house in a nice neighbourhood, think about what kinds of shops, pubs, and restaurants are nearby, and whether you want to go to these places.
If you’re looking for a family home, do you want to be within walking distance of schools or nurseries?
Most cities in the UK have more attractive suburbs and boroughs, and many will have 'up and coming' districts where home prices are fair and predicted to rise over time. Look into the housing market in your chosen location and read up on local news to learn about new developments being built in the area, how well the high street is performing, and what kinds of events are being held – all of which are signs that a certain area is set to increase in its desirability.
Quality:
The quality of a home determines how enjoyable it is to live in, from the materials used in construction to the finishing touches.
Practicality is a crucial feature of the perfect home, as are durability and value for money, so these are all things to bear in mind when buying a home. It's not just about the aesthetics!
Potential:
Finding your dream home isn’t always easy, and you may have to compromise on certain things in exchange for higher priority features.
As a result, it’s important to look for the potential in each property you view, rather than dismissing it because it’s not in perfect condition. Think about how you could do up the house, considering possible extensions or décor ideas.
Looking for a fresh start? Book a valuation to find out how much your property could be worth.
