10 Tips to look out for when Buying a House!
1. Location, Location, Location
The first thing to look for during the decision process. Choose a location that is close to the places that you need to commute to and from regularly. A home close to your workplace, or your children’s school or your family could be ideal and save you time, money and stress daily. While browsing for houses, make sure that they are away from traffic and noise.
2. Size of the plot: also important
This is actually the last thing people check and notice when going to viewings and browsing available listings. The size and the shape of the plot are of paramount importance and your preferences as well as the future use of the lot (lawn, driveway) play a crucial role and should matter to you when buying a new home.
3. Number of bedrooms
It all depends on your current and future needs as well as on how many children you have or planning to have. The majority of people need and want at least two, a number increasing if children are present. Additionally, if you are working from home or have a specific hobby, you might need an extra bedroom to cover your needs.
4. Number of bathrooms
This as well plays a major role and the number of bathrooms depends upon your needs and preferences. Sizes and bathroom styles are equally important and special “needs” such as a jacuzzi tub determines your decision on buying a home.
5. Kitchen layout
Kitchens usually act as centres of activity and entertainment as well as gathering places. Their size and layout require a closer look depending mostly on your style of cooking, on the size of your family as well as your entertainment needs.
6. Age, style and condition of home appliances
These are integral parts of every home and usually very expensive to replace them. When buying for a new home, estimate whether its home appliances will fit your everyday needs or not. It is very important to also check the age and condition of the existing appliances and to make sure that they have been working and maintained properly.
7. Age of the house
A major factor that determines the decision of many individuals when buying a new home. Newer buildings are more likely to be fully renovated while older homes might have an appealing character but might need repairs and upgrades. It all comes down to what you need and what is your budget. Make sure to communicate your preferences to your realtor so as to start looking at houses that fit your profile.
8. Purchase price
Having a clear price range and a pre-approved loan is always helpful when looking at listings. Make sure to remember that there is more to buying a home than its purchase price. You might need later additional costs that will affect your budget further down the road.
9. Seller’s incentive to sell
This is a major factor that you need to take into consideration when buying for a new home. The seller’s motivation affects the price and room for negotiation. Your realtor can definitely assist you in determining the reasons behind the seller’s motivation and on placing the best offer and counteroffer.
10. Maintenance needs
No home is 100% perfect and each requires renovating or replacing certain items. Some might be simply cosmetic and aesthetic while others might need more time and money. This is certainly another factor that you need to take into consideration when buying a new home since it will affect your budget later on.
by Michalis Pitsillides
General Manager / Property Consultant