So, you’ve just found the perfect house. You’ve been spending all your evening on sites like phuketbuyhouse.com scrolling through all the different houses, until finally you find your dream home. For so many people, buying a home is probably one of the biggest types of purchases that they will make in their life, and there is a lot that people will need to consider before they buy the house though.
It’s not just a simple thing to do, there are so many things that you will need to think about before you buy a house. Can you afford it? Where do you want to live? What size house are you after? What’s the neighbourhood like? Is it close to work? Are there any schools nearby for your children? These are just a few questions that you need to think about, but let’s delve into this further and see what you really need to think about before buying a house.
Your Mortgage and Other Costs
If you’ve never brought a house before, meaning that you are a first-time buyer, then you will need to get a mortgage out to cover the cost of most of the property. You will need to make sure that you are able to put a minimum 10% deposit to get the mortgage. If you can’t do this then you will either need to look for a cheaper house or start saving quick. Of course, it’s not just the mortgage that you will need to think about though.
There are other costs that you will need to think about before you buy a house. You will need a solicitor and a budget for their fees, and it would be good to have a few hundred pounds spare as well for things like furniture and hiring a moving van (or moving company). Don’t forget if the house is valued over £125,000 you will also need to cover the cost of stamp duty as well. So, as you can see there are plenty of things that you will need to think about regarding the cost of the house.
The Location of the Property
This is a really important thing to consider as it can make a huge difference, not only do you want something that is close to the shops, schools and work. The location of your house will also affect its price. If you need that extra bedroom but find that the house is too expensive in the area that you are living in, why not compromise and move a little bit further. Yes it might mean a longer commute, but at least it means that the house will be affordable.
You could also look at a slightly older house, that might require updating. This will make the house cheaper, and you can do the repairs when you can afford to do so (which will also mean that you get the most out of your money). Don’t forget though, to visit your property a few times before you purchase, as this will help you figure out how many problems it has and allows you to budget for this in the future.
Commuting to Work
One of the biggest things that people care about when they buy a house is how long it will take them to commute to work (and also how far the schools are as well). People don’t want to drive a couple of hours to work, as they like to get home as soon as they can. So, making sure that you house is a good distance to your place of work is often an important thing to think about when figuring out where to live.
Also, it’s not just about the distance, but how easy it is to get to work. If you don’t know the area, then you should travel to work during rush hour (or whenever your normal hours are) and see what the commute would be like. You don’t want to find that the journey is horrible, as this could lead you to hating your house. If you are still struggling to figure out how to buy and move into a new home, then check out this ultimate guide here about buying and moving into a new home!