How do you know when you have found the perfect home?
We all buy homes for different reasons. It may be because you are newlywed or that your family is about to expand and you need more room. Other times it may be because you have changed jobs or that you may be retiring. It may also simply be an investment or a home in which to retire in during your golden years.
So how do you know when you have found the perfect home? We have all heard many times how a person walks into a home and they know that “this is the one”. But when do you know that it is the right home for you? Finding the right home is more than instinct and the decision definitely needs to be done with a sensible and clear head.
It is always advisable not to get emotionally attached when viewing homes, as buying a property is one of the biggest financial investments in any person’s life, even when it is the tenth property that you are buying. We therefore have to be careful with our hard-earned money or savings, as buying real estate is a long-term investment and one that we want to see increase in value.
Here are some pointers to help you when hunting for the perfect home:
• Always make sure that you know your budget and how flexible it is
• Decide whether you want an old or a new existing home
• Never get emotionally attached to a property, so always buy with your head and not with your heart
• Bigger is not always better
• Never buy to impress someone else
• It's always about location, location, location
• Make sure that you buy in an area that suits your lifestyle
• Buy a property that is not overcapitalised
• Plan for the future, especially if you are a first-time buyer as this will not be your first and last home and things change over time
• Ensure that the location of the property has access to public transport, ancillary services, shops and medical facilities if you need such facilities in close proximity.
• Ask your agent to give you a comparative market analysis of similar homes that have recently sold in the area
• Visit the home that you have set your heart on at different times of the day
• Determine whether you will have to do renovations and if so, budget for it
• Make sure that you test everything in the property such as toilets, taps, showers and basins
• Be sure to ask what fees apply to the property
• Never get involved in a bidding war, rather walk away
• When you have decided on the home of your dreams, make an offer. Don’t ask to see more properties or delay the buying process. That perfect home could be gone tomorrow.
• At times we might get tempted to buy a bigger property in an area that is not the best and this can be a mistake
• Ask your estate agent how longthe property has been on the market and what offers have been submitted on it, if any
• If the property has been on the market for long, try and find out what the reasons are
• It is also a good idea to get a structural engineer or an architect to come and do an inspection on the property that you have decided on as this will save you money in the long run should there be any visible or hidden structural issues that need addressing
If you make these general rules part of your house hunting experience, we can assure you that you will find the right property sooner than later and definitely know when it is the right property for you.