Some useful reminders when looking for a house to buy or rent.
Looking for a house to buy or rent can be a very stressful situation. After all, moving house is a major change. But, the process can be made simpler and less difficult with a little bit of planning.
Here are some tips that you might want to consider if you’re in the process of house-hunting:
1. Have a realistic plan on the kind of house that you’re looking for.
Consider the type of house, layout, number of rooms, features, and location. And, take in to account a workable budget - include things like first homeowner grants, available deposit, interest rates, stamp duties, and other fees in to account.
It’s easy to fool ourselves in to believing that we can buy something that we cannot afford. But, it’s best not to regret this types of decisions by setting realistic plans and expectations.
2. Get a provisional home loan approval.
Speaking of budgets, make sure that you only allow for a budget that you can access. Obtaining a provisional home loan approval is very useful for this purpose.
3. Give yourself a workable schedule.
When do you need to move to a new house? Do you have a deadline or is it flexible? How many houses can you realistically view during Open Days? How far do you need to travel when house hunting? Can you do some initial investigations on the internet first before making the trip to view a house?
These are just some things that you might like to think about when preparing a house hunting schedule.
Other schedule-related considerations: How long will it take for you to get your deposit and/or your home loan? Are the sellers/homeowners looking to sell or rent quickly - or can you take some time to make your decision?
4. Familiarise yourself with all the legalities of house buying and/or renting.
There are so many things that you need to consider and learn when buying or renting a house. So, even though the legal jargon may seem daunting to look at, it’s always good to know what they’re all about. If you feel the need to consult another knowledgeable individual, enlist someone to help and ask them to explain the legalities with you.
5. Get to know the houses that you like really well.
It’s really like entering a long-term relationship. You don’t marry someone just because you like the look of them, right? You get to know them and figure out if you’ll really be good together. Especially if you’re buying a house.
You might not have the same amount of time to know a house before you make the big decision. But, there are different ways you can get to know the house - from visiting it at different times of the day to checking its different facilities (open cupboards, turn on lights, check out sheds, turn on taps, etc).
Familiarising yourself with the house will enable you to know the house’s quirks and charms. It will also save you from a lot of heartache when you know early on whether it’s a house that you’d really want to live in or not.
6. Get to know the area.
Don’t just find out about the house. Learn about the area as best as you can. How far is it to the nearest shops? How long does it take to get to public transport systems? What kind of neighbourhood is it? What kind of amenities and community activities are there in the area?
Knowing these these things can also help you with your house-hunting decisions.
7. Have specialists lined up when you need them.
It’s good to have the numbers of accountants, solicitors, building inspectors/surveyors, cleaners, builders, and the like before you start getting ready to buy or rent a house that you like. This way, you’ll have a good set of people to call when you’re ready to move to the next step.
Hopefully, some of these tips helped you. If you have other useful house hunting tips that you’d like to share, please do.
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