Searching for a new home is both exciting and stressful in equal measures. On one hand it’s a fantastic fresh start, but on the other there’s a lot to think about. For example the sale of your old place (or ending the tenancy if you were renting) which can come along with lots of not so fun paperwork and headaches. Here are some of the questions to consider when searching for your perfect home. Be aware that some flexibility will probably be involved with all of these points, but it’s good to go into your search with an idea of what you want.
Find a Mortgage Broker
Mortgages can be incredibly complex, and so you’ll need to get in touch with someone who knows what they’re doing. Make sure you do a thorough search to find a broker that’s most suited for you. For example some will specialise in mortgages for those with less than perfect credit, and others such as Enness Private Clients specialise in those with unusual circumstances. Mortgages are not a ‘one size fits all’ and so the right broker will be able to find you the loan that’s right for you.
Work Out Your Budget
Set a budget you can realistically afford. To do this effectively, you need to know exactly what money you have coming in, as well as the bills you have going out. Leave some money in the monthly budget for things like savings and an emergency fund. Getting a mortgage or paying rent that takes every penny you have, leaves you dangerously close to the edge. Set a budget you know you can afford.
How Many Bedroom and Bathrooms
Don’t just consider what you need right now. Do you plan on expanding your family in the future? If so you’ll need extra space, so take any future lifestyle plans into account. If your family begins to grow, you could consider renovating for extra room. A loft conversion, an extension or even a reconfigured layout. So work out if these would be an option if you needed them.
What Kind of Outdoor Space Do You Want
Have you always dreamed of a large outdoor space to host family barbeques in the summer? If so, would a small garden be a dealbreaker for you? Decide what your stance is on outside space. Is it something that’s vital in finding the right home, or something you’d be happy to compromise on? The same applies to parking space. Is off street parking a must on your checklist? Is a drive ok, or is a garage essential? These are important questions when searching for your perfect home.
Will You Go For a Fixer Upper or Move In Ready Home
A home that’s a bit run down will sell for less money. This can be good as you can then tear everything out, and renovate it to exactly how you want it. However this can be stressful, time-consuming and can lead to uncertainty. In older houses especially you don’t quite know what you’re going to find under floors and behind walls, and it can throw up all kinds of problems such as asbestos and dodgy wiring. It’s a great option if you’re patient and can envision the bigger picture as to how it will all look in the end. But it won’t be for everyone. If a ‘move in ready’ home is more your cup of tea, be aware that you will pay more for this.