Are you in the market for a new home? Whether you’re a first-time buyer or you’re selling your current home and buying a new one, it’s important to know what to look for. Here are some top tips for buying a new home.
Do your research
Understanding what you can get for a certain budget is essential, so do your research. Read up on new homes available in your area and see if anything stands out to you. You might also want to look for inspiration by visiting some open days at new developments.
If you’re buying an existing property, get a valuation from a qualified estate agent and think about what you could do to the property yourself. If you’re buying a new build, find out how energy efficient it is and whether your purchase would be eligible for any green deals or subsidies.
When you view a home, look beyond its obvious features. A house may not have enough cupboard space, or the garden may be too small, but can you see potential? Bigger properties might need a little work doing, but the size of the property could make up for that.
Discuss your finance options
If you need to borrow money to buy a new home, check your credit history and have an up-to-date tenancy agreement or mortgage statement. Your lender might also want proof of income because the type of property you’re buying will affect how much they’re willing to lend you.
There are also lots of private lender options. Sachem Lending is one of the best. Check out their website to see how they can help.
Find some properties
Find some properties you like and sit down with your mortgage adviser. They will be able to explain the different finance options available to you, as well as how much they will cost so that you can make an informed choice before buying a new home.
Think about location
When you’re buying a new home, it can be tempting to focus on what kind of property you want rather than thinking about where it is. However, the location could have a big impact on how much you enjoy living there.
Some things to look out for include:
- Public transport links – is there a train station nearby? Is it easy to get a bus or taxi?
- Local amenities – how far is it to your nearest supermarket, doctor’s surgery, or dentist? Are there any shops, leisure facilities, or restaurants within walking distance of the property?
- Crime rates in the area – is it near crime hotspots? Is it safe for you and your family to go out at night?
- Transportation costs – how much will it cost to travel in and out of the city every day?
Have a look around
If you’re given a chance, have a good look around the property and garden before you buy it. This will give you a better idea of what needs fixing and how much work needs doing in order to get it up to scratch.
Check that appliances function properly and that they’ve been installed correctly by asking someone who knows about them to take a look. You should also check that all of the fixtures and fittings are in working order, including taps, doors, windows, and lights.