Buying your first home is an extremely exciting thing to do. There’s something that feels incredible about walking into your property for the first time and knowing that it’s yours. Before buying, a lot of people tend to rent for a while as they save their money, and we all know that with renting, there are a lot of stipulations: you can’t paint walls, you can’t put picture frames on the wall, you can’t make any real changes to your home. But when you buy your own place, all those reservations are removed and you can make your home into exactly what you want it to be. But when you’re considering buying your own home for the first time, there are a lot of things to consider. Here are a few ideas for what you might want to think about…
Figure Out Your Financial Situation
First of all you need to make sure that your finances are in order. Get a credit check so that you know you won’t get immediately rejected if you apply for a mortgage. One easy way to get good credit is to use a credit card and religiously pay off the balance every month. If your credit is looking decent, then chances are, you’ll be able to get a mortgage. It’s important to make sure that your employment is steady enough for you to be able to pay your mortgage every month, and also that you’re making enough to be able to afford any bills and taxes that come along with buying your own place. There are more financial obligations than you may have realised.
What Sort Of Area Are You Interested In?
When you’re picking your new home, it’s important to consider what sort of area you’re looking for. The perfect home won’t be much good if it’s in completely the wrong location – if you’re looking for a small house in the middle of a town and you fall in love with a bigger house in an extremely rural area, it’s important to remember that your living experience will be extremely different – will the extra space be worth the longer commute and the lack of local amenities?
Do You Want A Historical Home Or A New Build?
It’s important to consider whether you want to buy an older house or a new build. These days, building is thriving in most places – a lot of new homes are being built at reasonable prices that are great for younger people, so it’s a good idea to check out companies like Redrow Houses so that you can see what might be out there. Many companies building new houses will have a huge range of accommodation from studio apartments to four bedroom houses, so you’ll be able to get a good view of what exactly is out there. New builds are great because you’ll be able to get all modern appliances in a house that you know is secure and in good condition. If you’re an architecture or history buff, though, you may prefer to go for an older house. If that’s the case, make sure that you get a survey done before you put down any of your hard earned cash, to check that there won’t be any big problems with the home like mould or leaks. You may have to redecorate an older home and renovate parts of it, but that may be worth it if you really want a garden that’s already established or to live in a certain neighbourhood.
What About Your Commute?
When you’re choosing to buy your first home, it can be tempting to be romantic and buy a home in the middle of nowhere with roses growing around the doorway and a thatched roof. You might go for a bigger house out of town, or a sleek modern apartment – no matter what you want, that home will be out there. But before you make any decisions, you need to think about your everyday life: your commute to work. If you work at home, that’s great, and if you don’t mind a long drive, it doesn’t matter too much. But if you rely on public transport, make sure that you live near to a transport hub. Remember that the longer your commute is, the more your personal life will suffer – and the more expensive it will be! That extra bus to get to the train station might not feel like a big deal, but over time it may start to be a big pain. Make sure that if you’re happy in your job and you want to stay there for a long time, or if you intend to use public transport to travel to work in a certain area for years to come, your new home has good transport links.
What Lifestyle Do You Want?
Finally, it’s important to consider exactly what lifestyle you want. When you’re buying a home, you’re not just buying bricks and mortar: you’re also buying into a lifestyle. If you’re getting married and settling down with your partner and thinking about having kids, your needs will be very different from someone who only intends to use their home to sleep before running out to work hard in the daytime and party hard at night time. Consider how you want to use your home: do you want a good amount of outdoor space so that you can throw summer BBQs? Do you need to be near good schools for your future kids? Do you want to get a dog, and therefore need a nearby park where you can go for walks? Even small factors like being a movie buff and wanting to be close to a cinema are important, or being a fitness freak and wanting to be near a gym. Think about exactly what life you want your new home to provide for you, so that you choose the right one.
There are a lot of factors that go into buying your first house: financial issues, lifestyle issues, commute issues… and it can be hard to hit the nail on the head and find the perfect place. Hopefully these tips will help you find your dream home.