What to look for in a home as a first time buyer?
If you are buying a home for the first time, the whole process would be exciting. It would also keep you on your toes, since you are in this for the first time. Buying a home for the first time calls for a lot of effort. You need to understand the market before getting into it.
Whether you are buying Luton property or property anywhere else in London, there are certain things to look for in a home. We present a checklist of things to look for in a home before purchasing it. Following these tips will make your first time home buying process all the easier.
Things to look for in a home
1. Can you afford it?
The first thing is to have a budget. Decide in advance, the down payment you can afford and the monthly payment. That is your budget, which is decided based on your present income and savings. Don’t try to exceed this budget. You may find a home that you like, which exceeds your budget. Buying it now can put you in serious problems later while making monthly payments. So, affordability should be the first thing to look for.
2. The area and neighbourhood
The area where you buy the home should be a good one. It must have good prospects and property values should increase in the future. If not, your investment would not be of much use. Try to choose an area whose property rates are yet to take off. For this, you need to study and understand the real estate market. Also, consider the neighbourhood. Is it safe? Are all amenities like parks, schools, transport, etc. available? Look for the answers to these questions before proceeding.
3. The home size
While buying a home, you ideally need to buy for the future. If you are a young couple, you should try to keep in mind future expansion of your family while buying. Look for a home that has at least one more bedroom that you need. Ensure the home is spacious and not too cramped. Check if the home has a decent yard, so you can have a garden or get a pool in the future.
4. The home condition
If you are buying a new home, there is not much to worry about. However, if you are buying a home that has been used for some time, there is plenty to check. You need to check the home condition before buying. A thorough inspection of the home is needed. You need to check the wall, the paint, the plumbing, the electric connections, the drainage, the heating, and the general maintenance of the home. Ensure all these meet your needs before going ahead with the purchase.
Look for other amenities like a garage, a swimming pool, a deck, etc. If you are buying an apartment, then look for common amenities like a park, jogging track, playground, etc. All these ensure you can live comfortably. The amenities also help in ensuring increased value for the home.