Buying a property is a real journey, whether it’s your first home or you’re looking for an upgrade. When you’re approaching the search process these ten tips will help you on your way.
1 . Use the right property sites
The first step to finding your dream property is to find the right property sites. There are so many different property sites on the web, and you’ll want to ensure that you are using the best ones.
One of the top real estate websites is Compass, there’s a special section called ‘Compass Exclusives’ where you can browse listings before they go on the market. Compass agents can help you to find the right property, in a neighbourhood that’s suited to your lifestyle.
2. Get an idea of the market price
Before you start searching you’ll want to have a good idea of market price. Spend some time researching local house prices, this will give you an idea of what to expect. Researching the market will also help you to figure out your budget, and get a sense of what you can afford.
Conducting research will also help you to feel more confident when you’re searching. With the right info you’ll be able to judge whether a property is worth the asking price of not.
3. Research the neighbourhood first
To find your dream home you’ll need to perform plenty of research about different neighbourhoods. Focus on the amenities, the transport links, development plans, and how safe the area is. Before you make a decision ensure that you spend time in the area, and that you feel comfortable there. If you choose an area that’s growing in popularity you’re likely to get a great return on your investment.
4. Ask the right questions
When you’re viewing a house that you like it’s important to ask the right questions. To give you some inspiration, here are some key ideas:
When did this property come onto the market?
How much interest has there been in this property?
Have there been any recent renovations to the property?
Why has the owner decided to sell?
Are there any restrictions imposed on expanding the property?
5. Take plenty of pictures
When you visit a house, you should take plenty of pictures and videos. You can look back at these later on when you’re making a decision. Sometimes it’s difficult to remember all the details, and so videos can help to jog your memory.
Take your time when you’re viewing a home, it’s a good idea to make a few notes as soon as you leave the viewing. You can write down your first impression, and what you believe are the pros and cons. If you’re buying a property with a partner you can discuss the pros and cons, to help guide your decision.
6. Figure out your deal breakers
To find your dream property first you need to figure out your requirements. What’s most important to you, and what are your deal breakers? You might be looking for a property with a certain amount of bedrooms? Perhaps you’re looking to find a property with a nice garden? Would you prefer a new-build house or an old property with character? Thinking about all these things will help you to kick start your property search.
Sometimes it may be necessary to make a few compromises, the key is figuring out what’s most important to you.
7. Know what issues to look for
When you’re viewing properties you should be on the lookout for any potential issues. Here are a few areas to focus on:
Check for signs of damp or mold.
Look at the roof and guttering for signs of damage.
Inspect the walls and floors for cracks.
Inspect the garden and the garage, are any repairs needed here?
Some people like to hire a house inspector to help them with this part of the process. If the property is going to need too much work you might view this as a dealbreaker?
8. Work with a solicitor
To ensure a smooth purchase it’s a good idea to hire a property solicitor. A solicitor can support you with the legal processes involved in the sale.
A solicitor can help you to deal with the legal paperwork and understand property ownership fees. There are plenty of fees associated with owning a property including land registry, survey fees, valuation fees, and more.
Your solicitor can also help you to carry out a property search. A property search can help them to learn about development plans, risk of flooding, and other things that may affect value.
9. Take your time
When you’re searching for your dream home it’s important not to rush the process. Buying a property is a huge commitment, and so you won’t want to make any rash decisions. Making a decision is about weighing up your needs, wants and your budget.
Throughout the process it’s important to be patient and trust your instincts.
You’ll be keen to find your dream home, but it might take a little time. It’s better to hold out for your dream property than settle for something you’re not sure on.
10. Talk to a financial advisor
When you’re looking to take on a mortgage it can be helpful to talk to a financial advisor. Getting financial advice is incredibly helpful in the early stages, you can get advice on what might be the best kind of mortgage for you. The type of mortgage that you get will depend on your financial situation and your preferences.
Using these property search tips you’ll be well on your way to finding your dream house. Finding the right home can be a long process, remain patient and give yourself plenty of time. Some people choose to build a house from scratch, others prefer a home that’s ready to move in. Whatever your requirements are, it’s important to assess your finances from the get-go.