Finding your dream home can be both exciting and stressful. It may not be a straightforward process and requires a lot of thinking in order to find exactly what you’re looking for. If you don’t know where to start, our easy guide will tell you exactly what to consider when looking for your ideal property.
When buying your ideal property, you have to manage your finances carefully. Unless you are a cash buyer, you will most likely have to borrow money through a mortgage and save around 5% of the house cost for a deposit (see our blog on saving for a deposit for more advice) this can often mean changing some of your daily spending habits and potentially swapping current outgoing bills.
If you already have a property that has sold, you have a more accurate guideline of what you can afford on the next property. Similarly, looking at existing homes on the market can give you an idea of what your property could sell for and roughly how much you should pay for your ‘dream home’ by looking at similar ones.
2. Put your property on the market
Looking for your dream property can take a while, so it is worth putting your home on the market in the meantime. Having sold your property before you buy another or at least having it on the market and actively trying to sell can make you a much more attractive buyer – and could be the difference in you securing your ideal home.
3. Be sure of what you want
Finding your perfect home is a big deal, so ensuring you know exactly what fits your criteria is very important. After assessing your financial situation, you may need to prioritise the features you want in a dream home and put aside those that aren’t necessary.
Similarly, focus on the fundamentals. While you may want a home to be perfect the second you move in, it’s worth considering something that may not fit your exact criteria at first, but with a bit of work, could. For example, if you find a property within your budget, with the desired layout and amount of land but is little run down, it could be worth spending out on the minor refurbishes instead of buying a newly decorated home.
4. Be prepared to make sacrifices
As well as making sacrifices within the home, it could pay to make sacrifices location wise too. For example – many people are put off living near a school, but if you aren’t home during the school open hours, this won’t affect you and could reduce the cost of your home. Likewise, properties on or near main roads often have much lower prices and if you are not particularly bothered by the noise, you could end up saving a lot on a great property.
5. Plan for the future
Your idea of a perfect home will most probably change over time depending on your situation – so it’s worth thinking about your future plans to ensure the home you buy now will still be ideal in the future. If you are thinking of having children, ensure they will be enough space, bedrooms and a sufficient garden or area for playing. Will it be accessible for prams etc? Or even as simple as ensuring there is space to grow into, individually and as a family.
Considering this beforehand will save you from potentially needing to move again in the future.
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