You may now be at a stage in your life where you either take your first step on the property ladder or your next up the property ladder. Finding the right property can be an anxious time for some especially first time buyers. Being a first-time buyer myself, the whole searching for a property can be nerve-wracking. Here are a few things you may want to consider when searching for a property:

Budget

Before you decide how much you are willing to spend to acquire your new property, it’s best to go through your finances for the following:

• How much can you contribute to the property

• How much of a loan will you need

• Seek financial help to see what you can afford

• Can you keep up with the mortgage payments

• Do you have money for furniture and movers when you move

• Do you have money for Stamp Duty (If applicable)

• Decide whether you will go through Help to Buy (If you are a first-time buyer)

New Build or Pre-owned Homes

You can consider two main property types:

• New Builds – New built modern homes are under warranty in case of any defects found upon moving in. Once completed and everything goes through, you can move into a brand new home.  New builds tend to be more expensive than pre-owned.

• Pre-owned – These are previously occupied properties and sometimes might need more work put into them. Most likely the current occupier will be purchasing another property which you will enter a chain buy, where you rely on the purchaser to purchase a property for themselves. Pre-owned homes can vary in price.

Number of Bedrooms and Bathrooms

You will need to consider how many bedrooms and bathrooms you will need. If you are living alone then maybe having one or two bedrooms might be more suitable. However, if you are thinking of having a family then maybe a house with three or more bedrooms will be suited to your expanding family. The number of bathrooms may make or break buying a property for some. You do not want to fight for a bathroom in the morning and having an en-suite for one-bedroom might be more convenient.

Location

The location of the property will be vital for commuting to other locations and to work. When picking out a village/town/city, do consider the surroundings around your chosen area. Figure out the major roads going in and out of the area and nearby towns and cities. Another consideration is the distance between the chosen area to your workplace. Are you willing to commute for 3 hours every day to go to work and back? Location is important and choosing the right area will make your life easier in your future endeavours.

Quality of Home

Whether it is a new build or pre-owned home, the build standard of the home will be important and you are aware of what further work needs to be done. It is good to inspect the building and see any defects. For a new build, it’s good to highlight to the property developer at the beginning, most likely they will be able to do something before or after you move in. For pre-owned homes, you will be able to negotiate with the current homeowner depending on how much work you think will be needed. Some homeowners might have had a new boiler installed so that’s one less thing to worry about when you move in.  

Parking

As we know parking can be a pain point for some areas like London where parking permits are needed. Some homes may have a private driveway, allocated parking, or on-street parking. Knowing the parking situation at or around the home will be important as you don’t want to park your car far away from your home. If your family has more than one vehicle then the parking situation will be as important as the home itself.

Amenities

It is good to research the amenities around the home such as supermarkets, post office, shops, garages, hospitals, GP’s, dentist, and emergency services. By having amenities fairly close to the home means you could walk to them. On the other hand, if the amenities are far away then you may need to use a car or public transport to get to them.

Transport Links

Living in an area where they are plenty of transport links to and from will enable you to go to places without the need for a car or hire a taxi. Having a frequent train service will allow more freedom to travel to places. If you frequently travel into London, it’s best to check your route as you may not want to change trains frequently and it is good to see the frequency of trains for you to get into London on time.

Schools

If you have children or are planning to have children it’s best to research the schools nearby to see if there are good schools for them to attend. If you have children already attending a school it’s good to check the car route or bus routes to the school. Even if you do not have children it might be a good idea to identify schools nearby to predict where traffic build-up is most likely to happen during rush hour.

Neighbourhood

When visiting your potential new property it’s a good idea to explore the neighbourhood at different times of the day to see what kind of activities happen in the neighbourhood. A simple walk around the neighbourhood will allow you to get an idea of what it’s like, whether it’s a pleasant place to live, and for your children to play outside safely.

Summary

Finding the right property is a daunting task. Not researching fully may affect your happiness in your home. You do not want to come home from a full day’s work to have neighbours playing loud music. There are several factors to consider and some will be more important than others. Remember to choose the correct house to suit your needs and that it makes your life easier for your daily activities. This guide will hopefully make you aware of some areas that you may need to consider when deciding to pay a deposit for your new home.