Is 2024 the year you buy a new home? This is an exciting time as you scour the housing market for the perfect property to call your own. With house prices continuing to drop and mortgage rates improving, there’s no better time to start your house hunt.
However, the process of buying a house can be long, and there is a lot to consider, to ensure you’re happy with the home you choose. If you’re planning on buying a house and want to know what the most important factors you should consider before you start viewing potential homes, we can help.
Our guide is filled with key considerations to make ahead of buying a home whether you’re a first-time buyer, downsizing or moving into a bigger house for your growing family. Read on to find out more.
Budget
Arguably the biggest factor to consider is your budget. There’s no point viewing a home outside of your price range, so it is best to get a mortgage in principle before you start looking to see what you are likely to be able to borrow. This will indicate the prices you can consider paying for your new home.
It’s important to remember that there are plenty of extra costs to incorporate into your budget too. This includes your mortgage product fee, stamp duty (unless you’re a first-time buyer) and hiring a reliable conveyancer to solve legal issues.
House Features
Buying a house is a huge commitment, so you’ll want to make sure the one you get has the features that are important to you. Some of the main house features to consider include:
- Storage space
- The direction the house faces
- Number of rooms
- Size of the home
- Dedicated parking area
Local Amenities
The area surrounding the home is another important concideration before putting an offer in. You’ll want to make sure you have access to good schools if you’re a family, be able to catch public transport to work and have shops close by for emergencies. You can usually find this information out by giving the area a quick Google.
The Condition Of The Home
The next thing to consider is the condition of the home. During a viewing, you should look for damage that could be costly to deal with after completion. The boiler, roof and any damp are all potential causes for concern, so inspect them closely during your initial viewings.
If everything appears to be in working order and you have an offer accepted, make sure you get a surveyor to inspect it too. They’ll be able to find issues that the naked eye can’t see, so you can make a more informed decision about proceeding with the purchase.
