Buying a property is an exciting part of your life. After many years of saving for a deposit, the time you start looking and purchase your property is something you should be proud of. When looking for a property there are many things to consider. The location of where you are buying, what’s the commute like to your work, will the property you like need work, amongst many other things. To help you with buying we have put together a guide of 4 things to consider when buying a property.
The Location Of Where You Want To Buy
When buying a property, knowing the location is key. That last thing you want to do is buy a place to find out it’s not in the nicest area, or you don’t feel safe when walking down the street to the local shop. When looking in the area, make sure you ask the local residents what their honest thoughts of the area are. Also, do your research around what’s in the area, are the schools good? Entertainment? What’s it like during rush hour? If the area is completely new to you, it could be worth renting so that you can be sure that you like the area.
Will The Property That You Are Buying Need Any Work To It?
Always enquiry into what things may need to be developed on the property you are buying.
It could be that you need to bring in some insulation contractors to fix an insulation problem, or that the garden may need some work done to it. Most properties that you see will not be perfect, so always budget for some repair costs when buying a property. Not only that but there is always a good chance that you will want to make your own changes anyway. These changes could then increase the value of the property when you go to sell.
Fees Of Buying
There are a whole plethora of fees when buying a property. This is why it’s important you do your research and cater for the different fees that will arise when purchasing. Some of these fees can include solicitor fees, survey fees, mortgage fees, and broker fees amongst others. Some will build the fees into the overall costs of the deal, however, others may ask for it upfront. Before deciding on who to use, always do your research and if you can find a recommendation from a friend or family member.
The Commute To Work
When considering the property that you are buying, make sure you look into the journey times to your place to work. If you get a bus or train, then check how frequent they are and if they are reliable. If you drive, make sure you research the journey time during rush hour as this can vary hugely compared to when it’s not.
Also, look into the costs of using public transport and this varies a lot depending on what area within the country you are. If you work from home this may not be an issue for you currently but if there is a part of you that thinks you may look into getting a job, then make sure you check on what’s around in your local area.
Are you looking to buy a property? What things have you researched and you are considering that haven’t been included in the list above? Let us know in the comment box below.