If you are now on the lookout for your first home then you might be wondering how to navigate this minefield. The property market can have its ups and downs but if you have the right help along the way then you can sail through. If you are still thinking about what you want your dream home to look like and where you want it to be then take a look at the article below for some inspiration.
This is a contributed post
TYPE OF HOME
One of the first things you need to think about is the type of home you want to buy. If this is your first home then you may not want to get anything too big or expensive. However, if you want this to be your forever home then it is worth taking that extra bit of time to find the right one. There are plenty of houses out there, for instance, you have the choice of apartments or a house. If you are buying a home with your partner then it is a good idea to sit down and discuss your housing wants and needs.
If you are still struggling to find the home of your dreams then you do have another option. You could build your own home from scratch. For this you will need to find a reputable new home builder in the area you want your home building
WHEN SEARCHING FOR YOUR DREAM HOME, CONSIDER YOUR BUDGET
Something else you have to think about is how much money you have available to spend on your new home. Houses are not cheap and it can take a good few years to save up a deposit. Knowing how much your home will be will give you a good idea of how much deposit you will need to put down to secure your mortgage. You can use a mortgage calculator online so you know where you need to be with your finances. The higher the deposit, the lower the monthly repayments will be.
In order to figure out your finances and your budget, you will need to work out your incomings and outgoings. Once you have done this you will know how much money you have left at the end of each month for your mortgage payments.
NUMBER OF ROOMS
How big do you need your home to be and how many rooms will you need? If you have children then it will be easy to work this out. You will have to decide if you want to save some money and get your children to share a room. This is absolutely fine if they get along, however, if they don’t agree then they may need rooms of their own. If you don’t want to spend extra money on those extra bedrooms then you could purchase a smaller house and convert the loft or basement. The cost of these conversions is sometimes cheaper than the extra money people want when selling larger homes.
Finally, you will need to decide on the area you want to live in when looking for your dream home. If you are looking to stay in your current area due to the schools or how nice it is then check out local estate agents in the area. If you are thinking about moving to a brand new area then you will need to check this out before you start your house search.
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