You have a certain lifestyle & image in your head, and with an investment as large as property, you should not settle for anything but the best.
Here are four basic tricks of the trade that you ought to keep in mind when house hunting, so you can find the perfect fit for you and your family:
1. Follow your budget
It may sound like a ‘duh’, however, budgets take a while to compose, but they are an extremely important financial aspect when it comes to looking for a house.
Isn’t it the component that will ultimately determine the price (and size) of your future home?
Recent studies indicate that it is extremely easy to spend more than you bargained for and this is the main reason why buyers run into problems in the long run!
An easy way to budget for your home (and to determine the amount that you can spend) is to multiply your household income by three, whereby the resulting figure will show you how much you can afford to spend on a home!
2. Write out your must-have list
It is so easy to swoon when looking at beautiful mansions with curb appeal, but this candy floss is exactly what you should avoid.
By putting together up a must-have list, you will be able to narrow down the necessities that you are looking for in a home.
Look at the condition of the property and whether it would need a lot of remodelling – are you still okay with that?
Another important aspect to consider is the quality of the neighborhood – it frequently influences the value of a home and it will determine the safety of your long-term investment.
3. Don’t forget about location
Analysing the neighborhood is important, as previously stated, but so is the location of the neighborhood.
Many buyers fail to put the location under evaluation before buying a home and continuing with the purchase of a home that might be in an unsafe area!
It would be a good idea to opt for a neighborhood with a close-knit community where safety is the number one concern.
Be sure to determine whether or not the location is central – it will only benefit you if it is close to amenities, shopping centers and schools for accessibility reasons.
4. The size of the house matters
Before you jump into a bond, you should decide the size of your house.
- If you are part of a family, it would definitely not make sense to purchase property that is either too small or that does not have enough rooms.
- If you are only two people, a smaller unit might be preferable.
- Experts have also pointed out the importance of storage space.
- Make sure that you know whether or not a house has enough built-in cupboards or space for storage should the need arise.
- Decide beforehand on the number of rooms, bathrooms and the size of the yard.
This brief list should limit the choices that you have to make when browsing through the real estate magazine or advertisements in the newspaper.
While there is lots of advice to follow, these are the four things to keep in mind when house hunting, which will make the process much easier.
Buying a home should not be something that buyers do on a whim!
It becomes as much a part of the family as your parents and your children – and after all, you are going to be staying in it for the next few years!