What To Consider When Buying A Property

Buying a home is not an easy process, and there will no doubt be complications and stress along the way. However, this advice on what to keep an eye out for when hunting down your dream house could be of help.

 

– Ideal location

The famous adage ‘location, location, location’ is still very true, and the most important thing to bear in mind when searching for a new house is where it is situated. An ideal location is different to everyone – some might prefer rural surroundings while others need to be in the hustle and bustle of a city.

However, keep your dream location at the forefront of your mind when looking around homes so you don’t lose focus and get tempted by a house that ticks all the right boxes but is not in the right place. At the end of the day, you can improve a house in the perfect location, but you can improve the location – even if it’s the perfect house.

 

– Potential to renovate

Whether you want to get your hands dirty with DIY projects straightaway or move into a house that is already redecorated to your taste, it is wise to look for a timber-frame property that shows potential for improvement in the future.

You might want the opportunity to extend, for instance, so search for homes that have large back gardens or side returns for extensions, or spacious attics that are ideal for loft conversions.

Extending a property is far cheaper than moving, so you will save money in the long-run by looking for a property that can last you several years.

 

– Value-adding properties

While it might not be the most important thing you think about when searching for a new home, it is wise to look for a house that has the potential to increase in value.

According to Halifax, 18 per cent of UK local areas have seen house prices increase by more than average pay over the last two years. The location where values have risen the most is Barnet in London, increasing by £106,898 in 24 months. This is £52,256 more than median earnings in the area during this period.

Therefore, look at location thoroughly, not just for its current facilities but also for its plans for the future. Improved transport links, local amenities, road networks and housing developments could all see prices shoot up in the next few years, so you could make a lot of money by purchasing before this happens.

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