Your home is likely to be the biggest investment you make in your life. So, its worth taking your time, doing your research, and avoiding common mistakes and pitfalls.
- Dont Leave It Too Long To Sort Your Mortgage
Many a dream home has been lost due to problems with sorting out a mortgage. Theres a lot of confusion around when to get a mortgage, and whether this should be at the beginning or when your offer has been accepted. Start the process of obtaining a mortgage before you begin looking around. This process will confirm exactly how much you can afford, and it will avoid any delays when the process starts. Having a mortgage in place will also place you at an advantage when compared to other potential buyers who havent reached this stage.
- Dont Be Rushed
If youre not sure, dont be rushed into making a decision. Go with your gut instinct and take your time. Always do your research thoroughly before making an offer. This will avoid having to pull out and start all over again further down the line.
- Look Beyond The Sellers Home
Sometimes its hard to see beyond someone elses furniture and possessions. Sellers will make their homes as appealing as possible to potential buyers. But its important to see beyond this. What would the living room look like without that fantastic sofa? When the shelves have been taken down, how much storage space will you have? Will the aesthetic change when you take out the sellers art and ornaments? Its important to imagine your own possessions in the space and to visualise living there. Try visiting at different times of the day to see if this changes things.
- Not Researching The Area
Just because friends or people you know live in the area, doesnt mean it will suit you. Research the locality carefully before making a decision. Things to consider:
- The crime rate in the area
- Amenities for you and your children
- Transport and alternatives in case of strikes or inclement weather, etc.
- Public transport costs
- Schools and colleges
- Planned development projects
To some people, sound is a huge issue. They find it difficult to sleep at night if there is a lot of traffic or external sounds. Its important to take this into consideration before signing the contract. This is something that may not appear on the checks, and it will only be apparent once youve moved in. At that point, it will be too late to do anything about it.
You dont want to go through this process again soon after youve moved in, due to not having enough space. Properties for sale can appear deceptively large and spacious. This, in part, is set up by the vendor. But what happens when you bring your own furniture and possessions? Will you have enough space? A good trick is to walk through the rooms one by one and imagine the purpose of each. What activities will take place in there? Is there enough room?
There are many pitfalls when it comes to buying a new property. Hiring the right professionals can help minimise this. However, there are some things that a professional cant help you with. Take your time when buying and make sure you avoid the common mistakes.Read More →