Seven Tips for Finding Your Dream Property
Searching for properties can be an exciting experience, but with so many properties on the market it can also be an overwhelming process. It doesn’t have to be. Arm yourself with these seven tips for finding your dream property and you will find the right place for you.
7. Location, location, location!
Location is the most important factor in real estate. Nearby improvements, such as a new shopping centre or widening of the road, can greatly affect the value of your property. Keep in mind that a property in a great location is much easier to sell later on. Search the best property location here.
6. Short term vs. Forever Home
Do you plan to own this property for at least a few years, or longer? If you know you’ll only be in the area for a short time, renting might be a better option for you. Closing costs and a rapidly changing market might mean you’ll owe money on the sale, but if you stay put for a few years, you are more likely to come out ahead.
5. Commute Time
Commute time is an important factor. While it might not seem like a big deal when you first move in, it can become a hassle over time. Ask yourself, will I be willing to drive this far a year from now or will I grow tired of it by next month.
If you have school-aged children, buying in a good school system will be an important factor for you. In addition, good school systems help increase property values. Likewise, if you plan to start a family in the future you will need ample room for your children to sleep and play. Consider that teenagers take up quite a bit more space than toddlers, and plan accordingly.
Don’t let your eyes get bigger than your wallet. Talk with a lending professional about how much you can realistically afford. It is recommended that you get pre-approved before you start looking for homes, that way you won’t exceed your housing budget. You’ll need to set aside some funds for taxes and basic upkeep as well.
2. Look Beyond the Wall Colour
Sometimes it’s difficult to imagine yourself living in a space that someone else has decorated. Look beyond the wall colour and the drapes and try to imagine your belongings in that space. If that proves to be too difficult, there are apps on the market that allow you to take a picture of the offending wall and change the wall colour in your photo, making it easier to imagine your dream home.
1. Needs vs. Wants
We’ve all done this at some point. It’s hard to ignore the bells and whistles sometimes, but ask yourself if you really need a three-car garage or an industrial kitchen. Keep a list of what you need, also called ‘deal breakers,’ and focus on those. Everything else is icing on the cake. On the flipside, if something about the property bothers you before you purchase it, it is likely to bother you after. Listen to your gut about what you can and can’t live with.
Now that you know what your dream property needs to have you can start finding new properties for sale in the UK. The Internet is a great search tool, as is hiring an estate agent to guide you. When you find a property that meets your criteria, make sure to drive around the neighbourhood at different times throughout the day so that you can see everything the area has to offer.