10 Things to Consider Before Buying a Brand New House

10 Things to Consider Before Buying a Brand New House

Buying a new house is a big step, and if you are ready to take that step, congratulations! Whether you prefer a sprawling suburban house with a white picket fence or a modernised urban loft house, most people hope to find a new house that feels like it was made particularly for their family.

Having a perfect home is, however, not an easy thing, especially for first-time buyers. This is because owning a house is a lifetime investment, and each decision you make will definitely count in the long run.

But we can help. Below are ten key factors that can boost your confidence and know-how on your delighting journey towards house ownership.

1. Location of the house

When shopping for a brand-new house, you should make sure that it is perfect for you and your family. Find a location that allows you to easily access all the places you frequent the most, like the place of worship, work, school, recreation facilities, shopping centres, etc. Check traffic flow and look for easy access to main roads.

Doing all these before settling into a specific location can help save you from the hassles of getting out of the neighbourhood or even from a long commute.

2. Finance

Purchasing a new house needs a significant amount, and only a few individuals can afford to pay the price upfront. Consider discussing with your lender or bank if they have a repayment plan.

Besides, take the services of a reliable financial advisor to hold your hands throughout the process.

3. Neighbourhood

Be sure to check out the neighbourhood before settling on a house. Talk to the neighbours about any noise issues, the neighbourhood community, and the incidence of crime. You wouldn’t want your valuable motorbike to be stolen in the middle of the night after hiring a speedy motorbike courier to transport it to your new house.

Consider visiting the neighbourhood at different times of day in order to get a better feel for it yourself. You will recognise red flags when you hear or see them.

4. Identify your needs

Determine what qualities you want in a house. Think about both your present and future needs for common spaces, bathrooms, and bedrooms. Think about your needs if you have a hobby, home business, or even entertain guests frequently.

5. The age and condition of the house

Make sure that the house you are about to purchase is in an excellent state. Purchasing a house that needs a lot of renovations may cost you lots of money in the end.

With this in mind, you must inspect the house thoroughly before purchasing to save you from a mountain of frustrations later on.

6. Infrastructure

Before you purchase a house, find out if the location is connected by train networks or roadways. There should be enough water supply in the area.

Street lighting, recreational parks, and telephone and internet connectivity are also essential amenities you have to consider.

7. The size of the lot

The lot’s size is essential since it offers a little more privacy and lets you build-on to the existing structure.

When you’re purchasing a home, consider the future since many people will value having more exterior space. If the house does have room to add-on, ensure that doing so will not price the finished product out of the neighbourhood as it will be a challenge to sell without taking a loss.

8. Find a qualified real estate agent

With your list of priorities, speak to a qualified agent who can help you find a new house. He\she can facilitate negotiations between you and home sellers and show you new houses that meet your needs and budget.

9. Review the tax situation of the house

Be sure that the house you wish to buy is free of encumbrance. A free encumbrance home means that the property in question is free from any monetary or legal liability like an uncleared loan or mortgage.

10. Research the local market

Before you put an offer on the house, monitor the market’s condition in the area. For instance, pay attention to the length of time that most houses in your price range stay on the market.

Partnering with a local realtor can significantly help you understand such key data points.

Summary

Buying a brand-new house is about the journey and the destination. Don’t be afraid to be choosy and hold out until you find a house that feels right.