Buying a house is probably the biggest investment you’ll make in your life, so it’s worth thinking things through very carefully. There are so many things to consider when house hunting that it’s completely normal to miss a few points, especially if you’re really excited about a purchase. Luckily, here’s a little guide with a few top considerations to keep in mind when searching for your dream house.
Always go for a home that you can afford. Also, do a good research and find out what you need to get a mortgage. Still be carefull, even if your bank covers a certain amount, that doesn’t mean you can make your monthly payments in time. If you can cover them today, what will happen if you lose your job or experience unforeseen costs? You might have a smaller property, but you’ll spare your family a lot of stress.
When buying a house, timing can be crucial. If you buy while the market is strong, your property can lose a lot of value once the market falls. What that means is that you can find yourself in a situation that you owe more money than the worth of your house. Plus, if you’re planning to sell in the future, you can have a hard time getting a good price. Even though it can be hard to predict how the market will move, it’s always better to buy when the market is low, because your property can only gain value over time. In that case, you can easily sell your house if you want to move.
No matter how pretty and affordable the property is, its location is more important. You definitely don’t want to move to a neighborhood that is notorious for crime if you’re planning to start a family or a neighborhood full of noisy traffic and people if you want to live in peace and quiet. Luckily, every place has wonderful neighborhoods that will definitely fit your lifestyle. For instance, if you’re looking for a property in Australia and you want something that is perfect for family life, look for houses for sale in Redland Bay – that’s full of shopping, education and sport opportunities. It’s simply a pleasant place to live, work and play for the entire family. Remember that you can change many things about your property, but its location will always stay the same, so give it a good thought before you invest.
Age of the house
If you’re buying a new house, this doesn’t concern you. However, if you’re willing to consider all type of properties including those several decades old, the age of your house will play a significant role. Older houses do have character, but they also might need plenty of costly repairs. The price of the property might be attractive, especially when browsing older Australian homes, but are you willing to go through a lot of home improvement steps to bring everything up to standard and your liking? If yes, go for it! However, you’ll need a good professional to handle your repairs, especially your electrical works. Luckily, you can always find an experienced electrician who will be able to conduct every electrical service from lighting to ceiling fan installation. If you find someone good, you’ll basically have a one-stop shop for everything concerning wiring, appliance installation as well as metering and overhead and underground services. Never try to mess with electricity yourself, otherwise, you might damage your newly-purchased property and even endanger your health.
Consider your future needs
Take a good look at the size and layout of the property. It might work for you now, but what if your circumstances change? Can you upsize the place when your child arrives? Can you downsize when kids go to college? Considering your future needs will save you a lot of trouble down the road.
Pay attention to the layout
Oftentimes, it’s quite hard to change the layout of the house. Sure, you can take out a wall or add one and rearrange things, but all of that costs money and time. Sometimes, there’s very little you can change in terms of the layout. So, it’s always best to choose a house that fits you the way it is or the one that only requires minor changes.
Consider other costs
Most people just consider the purchase price and give very little thought to other costs of owning a home. What about insurance, homeowner association fees, real estate taxes, home improvements? Depending on your location, all of these can be quite expensive. Additionally, there are also maintenance costs which should definitely not be neglected. If your property has a pool, special heating and cooling systems and exterior buildings, it’s smart to ask questions about upkeep.
If you discuss all of these points with your agent and your family and take your time to make your decision. It’s better to wait a little longer than to make a costly mistake you’ll regret for the rest of your life. So, keep these tips in mind and good luck with your dream house search.