Buying a new home is a major investment and nowadays many people take loans they have to set aside a solid amount of their monthly income to pay out these loans. Understandably, they want to get their money worth back and find the best offer on the market. Choosing the right house can be a time-consuming and tricky process. The fancy interior or exterior should not have much impact on your final decision. After all, you can always repaint the walls and make some small home improvements. However, you cannot change some other factors once you sign the paperwork and move into your new house.
You might be fed up of performing end of tenancy cleaning and moving from one neighbourhood to another, but don’t rush to buy a new house as soon as your loan application is approved. Take your time and investigate the current market conditions. If necessary, consult with a real estate agent who will help you sort out the properties you can afford to buy and give answers to all your questions. However, arranging a professional for the buying process usually does not come cheap, so be prepared to pay a fee for the real-estate agent services.
The location of the house is probably the most important factor. Is the neighbourhood too noisy or too quiet for your preferences? Is it too far away from your office? Are there any supermarkets, schools and kindergartens around? Is the infrastructure good and is there any public transport available? Last but not least, do you consider the price of the house reasonable given the aforementioned factors and the overall condition of the property? If you answer ‘No’ to more than one of these questions, you’d better keep looking for the ideal house.
Unfortunately, you will not be able to spend a couple of weeks in the house before you decide whether to buy it or not. That’s why you should carefully look for “hidden defects”. If possible, hire an independent contractor to make an evaluation of the condition of the house and identify the problematic spots for you. Failing to comply with that requirement might cost you a fortune in future, not to mention the house will always be dirty and smelly, no matter how much time you commit to house cleaning projects. You should consider the fact that if you are buying a big house you may need to book regular domestic cleaning procedures.
Check for any signs of corrosion as well as water stains in the bathroom and make sure there are no leaks. Damaged plumbing systems are associated with a lot of expenses.
Take a look at the ceilings and make sure they are firmly fixed. You can even shine a torch across the ceilings to double check for damages in the sheets.
Open each and every cabinet in the house and check for any unpleasant smells caused by mould and mildew. In case you smell the distinctive mould odour, rest assured you would have to deal with water leaks.
If you notice large cracks in the walls, you’d better contact a contractor and ask for a price estimate for fixing the damages. Cracks will make heating/ cooling the rooms more difficult.
Don’t neglect the external roof lines and the roof gutters. Make sure the roof lines are not damaged and the gutters are corrosion-free.
Ask about the drainage system and do your best to make sure it functions adequately. Drains installation is a pretty tedious and expensive project and the worst of all is that it might be necessary to excavate pavements and garden beds to install drains.
Many people dream of buying a big house and furnishing it in accordance with the latest design trends. That sounds terrific, but you will have to invest a considerable amount of money into making your dream come true. If you have to pay out a loan for the next couple of years, you’d better opt for a smaller house, so you can afford to buy high-quality kitchen appliances, furniture and make some improvements. Later, you can take up a home extension project and turn the attic or the basement into a functional room. In point of fact, people with knowledge on the matter recommend to always settle for a house that costs 30% less than what you can afford.
Buying your own home is an important step in everyone’s life, so make sure you choose wisely. Don’t be fooled by bargain prices and pay attention to the details, mentioned above. After all, you don’t buy a house every other month and you have to make the best deal. Investing in home improvements projects seems inevitable, but you have to make sure that the price you pay is justified.