When beginning your property search and buying a new home, you’re likely to have a lot on your wish list. However, it’s important to distinguish what you really need from what you’d like.
In the video below, Cat King shares our very own Phil Spencer’s advice on how to differentiate between the two, to help you make the best decisions possible when property hunting.
We’ve summarised the key points mentioned in the video below, but be sure to watch it in full to get all the details.
Top Tips For Your Property Search
1. Be realistic during your house search
Firstly, it’s important to have an accurate picture of what you can afford beforehand. Make sure you speak to an expert mortgage advisor to help you identify what’s within reach in terms of budget. This will help you filter out your wish list and decide what you truly need.
2. How to narrow down your house search
Write out your list of things that are important to you to work out what you want and need for your property. Be honest with yourself about the features you want versus what you would be able to live with or without. In any property search, there are usually compromises to be made at some point.
3. Finding a property – dream or temporary?
Don’t search for your dream house if you’re only planning to stay for a few years. Look at what else the purchase can give you in terms of lifestyle or the potential to make you money and increase property value while you live there.
5. Location is central to any property search
For some, location is considered extremely important. We always suggest prioritising where you live over what you’re living in. You can always revamp and improve your house, but you cannot change its location. Think about where everything is in relation to the house, such as schools, shops and train stations, as well as what type of view you’ll have. Fine tune your search but don’t restrict yourself when viewing things outside the property’s immediate vicinity.
Get to know the area by researching online, speaking to friends who live in the local area, looking out for ‘for sale’ signs, buying the weekly local newspaper and connecting with local agents. Also, be on the lookout for new developments nearing completion.
We hope this advice adds value to your property search and you find a happy balance between your wants and your needs!