Buying a new home is exhilarating and momentous, you are all ready to build new memories and in a way start a new chapter. Every time you are looking at a prospective house you automatically envision your future there, whether you can see yourself adjusting to the view from the bedroom windows, if the colour of the kitchen cabinet is according to your taste and whether the fireplace is real or fake?
As much as these factors need to be kept into consideration, there are many things home buyers tend to forget, only to be reminded about them once they start living in the new home.
The reality is that purchasing a new home is strenuous work, it puts a lot of mental, physical and financial pressure on the buyer. The real estate market is always fluctuating and is as unpredictable as ever in today’s time. Hence, you will need to ask a lot of questions and do a lot of research and keep your pocket, your taste, the real estate market and even the economy at large in mind when buying a new home. Following are a number of things you will need to keep into consideration:
- Purpose
The first thing you will need to ask yourself is why you need to buy a new home? Is your current house too small or are you buying it as an investment during the fluctuating times? Knowing exactly why you wish to make the purchase will enable you to look at things differently. If it is for the sake of reselling it then the creaking floors or temporarily mended roof may not be such an issue, however if you plan on living there then these things can make a huge difference. Also you may not mind living 10 blocks away from the nearest grocery store, but it may become an essential factor when trying to sell it. If you wish to change homes then make a list of all the things that you do not like about the current premises and take the checklist with you when going house hunting.
- Finances
It is important to keep your finances in check beforehand. You may think that you will be able to manage the legalities and the bank statements in time, but at times it is easier said than done. Hence, it is more advisable to have everything ready before you start looking for houses. This will ensure that you do not let go of a good opportunity because of delayed financial issues.
- Research
A good amount of research can help avoid a lot of unnecessary surprises. The first thing you should do is get your current premises evaluated. You should then go out and do extensive research on the current real estate prices in different areas. If the prices have risen temporarily due to current trends or the stock market, then it is better to wait it out.
- Investigate
You should prepare a list of questions to ask real estate agents and prospective sellers regarding the condition of the house, average utility costs, building permits and if the house has had recent work done. Also, look past the furniture and upholstery, as they are temporary, you may be able to change the colour of the walls or doll up the windows, but the chances are it will cost you a lot to get the roof repaired. So pay more attention to the condition the house is in.
Do not hesitate to ask even the minutest of questions and don’t mind the wait, as it will reap better and longer lasting results.
Author BIO
Jenny Cooper by profession is a real estate agent. Leeds is a beautiful place to live and she loves to help people who are planning to make a move to the place by writing blogs and articles. Whether it is finding a house or estate agents Leeds, you can do so quite conveniently if you are planning a move.
