What to Look For in Your First Home
Are you looking to get onto the property ladder? Buying a home can be a fantastic way to invest your money and arguably provides you with more freedom than renting.
Owning somewhere means you can make it completely yours, decorated to your taste, and made to work for how you like to live. As well as this, making home improvements over time means that you are often able to make a profit should you choose to sell later down the line.
Knowing what to look for from a first home can be difficult; if you haven’t moved often or have even lived in one home your whole life, then it is hard to know what you should be looking for.
Here are some things that are handy to consider when you begin your search for your first home. It is important to note that everyone’s requirements for a home will differ depending on a range of factors including budget and lifestyle. Bear this in mind when considering the following:
Project size
Purchasing your first home is incredibly exciting and it can be easy to get carried away. After binge watching a few too many episodes of Grand Designs, the idea of a huge renovation project can start to seem very appealing.
While there are definitely perks to undertaking a renovation, the reality of it can often be quite different from what is portrayed on TV. These types of projects are often incredibly expensive and require intense amounts of time and dedication.
For your first home, it may be better to look into new homes or at least ones that have been well maintained over the years. That way you will still be able to add your own stamp, without having the stress and cost implications of completely re-doing a property.
Room for growth
Room for growth doesn’t just mean expanding your family. Whether you do or don’t intend to have children once you have bought a home, is it good to consider if the property will work for you in the future, whatever your plans are.
Life can be impossible to predict but take some time to think about what you might need from a home in a few years as well as right now. If you do decide to have children, is there room or will you need to move again? If you get a new remote job, is there space for a home office?
Buying a home that is suitable for your future as well as your present isn’t always possible due to budget constraints, but at least considering it is a worthwhile thing to do. Don’t worry too much if your budget will only allow for you to buy something that works for right now, it is likely that your first home won’t be your forever home and getting onto the property ladder is still a great step.
Location
It goes without saying that location is a critical factor to consider when choosing your first home, or any home for that matter. Unlike almost any other consideration, the location of your home can’t be changed so it is imperative that you are happy with it.
To ensure you are picking an area you will enjoy living in, visit at different times of the day as well as during the week and on weekends. Doing so will allow you to see the area in all lights (literally), which will give you a clearer idea of whether you want to live there or not.
As well as the location of the home itself, consider its proximity to local amenities and anything else that is important to you such as friends and family or your workplace.