Five Considerations When Buying a New Home

October 23, 2021 2:37 pm

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Moving home is an exciting yet daunting process, and it’s best to be aware of some key issues before embarking on the journey.

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How Much Can I Afford?

When it comes to mortgages, you don’t want to take on too much. It’s important to find that perfect balancing act of borrowing what you need for a potential dream home but not overstretching. A mortgage affordability calculator can be a good idea, or speak to a professional. An independent mortgage provider can guide you through the complex world of borrowing. Making an application will help you understand the process.

Decide What Area You Can Afford To Live In

There can be a huge difference in prices between two areas close to each other. You will need to work out what your priorities are. Do you want to be near bars and restaurants, or do you prefer to look long-term and seek out areas which have good schools? Your budget can of course restrict you, but consider how many bedrooms you need and what your preferred outdoor space is.

On the House Hunt

This is perhaps the most fun part. It can be leisurely, but don’t lose sight of the fact you will be making a big financial commitment, so think long-term. Don’t be sidetracked and always think practically as you view the houses. Imagine yourself living in the property and walk through your daily routine. Look at the space both inside and out as well as smaller cosmetic details. If you are moving home and require a building survey London has a wide range of professionals willing to assist you. For a professional service you can visit Sam Conveyancing, where the team will take the stress out of the property buying process.

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Do Your Research Before Making an Offer

Look at similar properties which are comparable and find out how much they have been sold for. This information is available online. Visit the area both during the day and at night and consider if there are issues such as noisy thoroughfares nearby. According to the Evening Standard, international buyers are back in London, which means that there could be price growth in this market.

What If I Am Buying a New Home?

If you have your heart set on a new-build, it’s a good idea to become familiar with the developers in your chosen area. If people have already purchased homes, ask their opinions.

You can also visit the developer’s other sites and look at the homes. Again, knock on the doors and ask how the residents would rate their property and the developer. Don’t just rely on glossy promotional material – do the groundwork for yourself.