A home represents a massive investment, which is why it is vital to approach the property searching process with care. The last thing you want to do is put thousands of pounds down on a property that you don’t like after a year or two. You can ensure this does not happen by finding your dream property. You are probably thinking: “if only it was that easy!” Well, it can be easier than you expect. It is all about following a thorough and careful process. With that being said, read on to discover the steps you need to take to find your dream home.
Fall in love with your city and your job first – When you buy a property, it is not supposed to be something you can pick up and throw away when you have had enough. It is a long-term investment. You are settling down, which means you have chosen the path for your future. Is this something you are ready to commit to? If you are unsure, it is probably because you have not chosen the city or job that is right for you and the rest of your years. A lot of people see buying a home as buying bricks and mortar, but it is so much more than this. You are buying into a city, you are investing in your job, and you are committing to your future. This is why it is critical to fall in love with your city and your job before you choose a house. This may make you put off your property search for a couple of years, but there is nothing wrong with this! After all, one of the biggest mistakes people make today is buying a property simply because they feel like they need t become a homeowner. We all have our own paths, so make sure the location and your job are right for you. If you can see yourself living and working in the area for the next five to ten years, great!
Get your finances in order – Before you start looking for your dream property, it is important t get your finances in order. This starts with paying any debt you owe and working on your credit score. Nowadays, it is easy to access your credit report online. There are many free and paid services that enable you to do this. Use a free service first so you can see your score. If your score is anything less than good, you may want to consider paying for access to the paid version so that you can discover what potential lenders will see about your finances and find out why your score is not as good as it could be. If you do not have any debts, the reason why your score may be low is that you do not have enough of a credit history or it could be because you have made a number of new credit applications over the past six months, irrespective of whether you have been accepted or not. You also need to draw up a budget so you can put an effective saving plan in place and decipher how much money you are going to have available to spend on your dream home. After all, when buying a property, there is a lot more than the deposit to save for. You also need to make sure you have the money for everything from legal fees to removal costs. Assess how much money you have coming in and going out every month so you can put together a realistic savings plan.
Create a list of everything you need from a property – This is a vital part of the process because it will ensure that you do not let your emotions take over. One of the biggest mistakes people make is buying a property because they have allowed their heart to rule their head, meaning they have compromised on the elements they initially said they wouldn’t. You can make sure this does not occur by creating a checklist of all of your non-negotiable. Whenever you view a property, be it an apartment, townhouse, or detached property, you need to make sure it matches everything on this list. If it doesn’t, you should rule it out, no matter how much you think you have fallen in love with it. This list can contain anything that is important to you, for example, you may want a big garden so there is plenty of space for your children and dog to run about. Or, maybe you need to make sure there is a separate room for an office?
Do plenty of research on the property market in the area – Once you have a good idea regarding what you want and the budget you have available, you need to research the property market in your target area. Find out the average price for houses that you are considering, and make sure you conduct research regarding the future of the area. After all, it may seem like the dream place to live now, but what about in five years time? Are there any developments in the pipeline that could have a negative impact on your investment? You should also research everything from crime rates to the schools. Make sure you have a clear picture regarding what the area is going to be like. Being armed with this information will ensure that you do not have any nasty surprises along the way, as well as making certain you are not charged over the odds for the property you are looking at.
Don’t skip the property inspection – Last but not least, you have come so far, are you really going to skip the property inspection? This is a critical part of the process. Yes, it costs a bit of money, but it can save you thousands and thousands of pounds in the long run. A lot of people assume they will be able to discover any problems with a house during the viewing, but this is not the case. Firstly, a lot of issues are not recognizable to the untrained eye. Secondly, if there is an issue and the owner has not disclosed it, you can be sure that he or she has done everything to hide it.
As you can see, there are a number of important steps that you need to follow if you are going to find your dream home. If you follow the advice above, from assessing the city carefully to shoring up your credit score, you will ensure that you have done everything that is needed to find the dream home for you. Once you have your finances in order and you know what you want, the rest is a breeze. The problem is that it is easy to get excited and carried away, so you end up putting your money down on a property simply because you want to be a homeowner. Hopefully, the steps presented above will help you to gain focus so you can find your dream property.