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What I need to do when Buying a Home?

By: Christine Whitfield BA (hons) - Updated: 8 Sep 2012 | comments*Discuss
 
House Home Buying Estate Agents Location

Buying a home is probably one of the biggest decisions you’ll make in your life. It is not an easy decision to make. Property process are at an all time high and handing over a large amount of money and effectively putting yourself in debt for the next 20 years until you pay back the mortgage is not something you want to do without giving it some serious consideration.

When buying a house it’s easy to get caught up in the fairytale. You may find a beautiful house that is just what you’ve been dreaming of but it may not be in the right area. Or you may absolutely adore the views from the gorgeous bay window in the master bedroom but if there aren’t enough bedrooms to fit all the kids in you’ll have to wave the view goodbye.

The main thing is to consider everything and be aware of exactly what you need. Remember once you’ve bought the property it’s pretty difficult to change you mind.

Make a List

When thinking of buying a property make a list of what it is you are looking for in a house, bearing in mind, of course, your budget – there’s no pointing putting ‘swimming pool’ and ‘tennis courts’ on your wish lists when you’ve got a budget that will just about get you a three-bedroom terraced.

What do you want?

Before you find an estate agent work at what it is you want. What location are you looking for? Realistically what size property are you looking for? Do you need to be close to schools? If so find out what the schools in the area are like. Think about public transport, is the area accessible? With this information make a list of the minimum requirements the property will have to have.

Armed with this list you can find an estate agent. The best way to do this is seek recommendations from friends and always aim for an estate agent who knows the area well.

Location, Location, Location

Location is of course a huge issue when it comes to buying property. The estate agent should be able to tell you more about the area you’re thinking of buying in. But this is where the Home Information Packs come into their own.

The Standard Searches presented in the HIP will tell the buyer of any plans that could change the area i.e. roads or housing estates being built etc. Bear all of this is mind as it could very well affect the value of the house should you want to sell up and move on in the future.

While buying a house is huge decision and should not be rushed into, make sure you are realistic with what you are seeking. At present the housing market is tough. House prices are high your money may not stretch as far as you think. If you cannot find anything even close to what you are looking for on your budget then it might be worth waiting and reassessing your finances.

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