Moving is a very busy and exciting time, so when you decide to begin the search for your dream property, in your eagerness you may fail to avoid the pitfalls that many homemovers often fall into.
Luckily for you, with decades of combined property knowledge, we have created a shortlist of the key methods to finding the best property for you, and how to avoid those nasty mistakes.
Assess your budget
First and foremost, get your finances in order. It’s important to know exactly how much money you have before you begin the property searching process. This involves working out how much money you have for a deposit, how much you can borrow, and how much you can afford to pay back in monthly instalments.
Additionally, other costs such as house moving, conveyancing fees, stamp duty, and furniture for the property need to be budgeted for. This will help to ease the stress of moving and allow you to be prepared for how much you’ll be spending.
Separate the want from the need
Now that you have a clear idea of how much you can afford, it is time to begin the search for your ideal property that meets your criteria. A useful tip is to distinguish your wants from your needs.
Make a list of everything you want in a new home, ranging from a garden, a garage, number of bedrooms, and location. Identify the things you truly need from this list. For example, you might want an extra living space but only require one.
Being specific about what your needs are will make it easier to find the right property for you, and you will be less likely to get in over your head with a home that is out of your price range and unsuitable for your needs. At Ellis & Co, we can help you find a property that fits your needs and fits your budget.
Get on the property market
Many buyers wish to sell their current property before they move, and some prefer to find the property they want to buy before putting it on the market. If your own property isn’t for sale, you’re less likely to be able to acquire your dream home quickly. Any offer you make may be put to the seller as “subject to sale of their own property.”
This may put you at a disadvantage against other bidders who may have already found a buyer or have the cash available. If you’re looking for an agent to help you begin the moving process, Ellis & Co has a whole range of services that are designed, at their very core, to make your relationship with us a successful one.
Plus, you don’t pay anything until we have sold your property, so there’s no risk.
Begin the search for your dream home
You’re now in a great position to begin looking for suitable properties. Start your search on the internet by visiting Ellis & Co, where you can speak to our local estate agents, who know the area well and can give you accurate advice. You can also ask to be added to our exclusive mailing list to get updates on our newest available properties. Or look through adverts in newspapers to see what’s available.
Consider the long term
While your first impression of a place is the most essential factor in determining whether you want to live there, it’s also important to consider what could be important to you in the future.
For example, if you’re planning to start a family, you may want to think about school catchment areas as this could be an important aspect of a home in a few years.
You might want to relocate to a smaller property later in life, but if that town has plans for regeneration, it may not give you the peace and quiet you desire after the regeneration begins and more buyers are drawn to the area.
Buying a home is usually a long-term commitment, and it’s just as important to consider where you’ll be in five years when thinking about what you value in a home.
Viewings
This could potentially be your new home, so you should take your time to view the property carefully, thinking about how you feel and what you see. Be punctual and polite to the seller. When you’re in competition with another buyer, it may be a question of who the seller likes.
Always try to see the property through the eyes of a visionary. Consider what you could do with it and how it will look after you have furnished it. This will allow you to evaluate the property’s potential.
If you like the property after your first viewing, return for a second viewing. However, avoid making an offer on the spot if the seller is there during the viewing.
House hunting mistakes you should avoid
1. Not knowing what you can afford
2. Not getting a mortgage in principle
3. Not shopping around first, therefore missing out on your ideal home
4. Not using an estate agent
5. Ignoring important flaws with the property
6. Not researching the surrounding area
7. Rushing to make an offer
If you’re looking for more advice on buying your dream home, contact our expert agents today.
