Buying a home is romantic, we think with our heart and our emotions often play a critical part in the choice. Don’t get me wrong, there is nothing wrong with emotions but buying a home should also be about the practical elements. This is the part that is described as ‘buying with your head’. Buying with your head takes away your wants and dreams and starts looking at the nitty gritty side to the property. No matter how beautiful the home is, it’s the practical elements that will ensure you don’t just lust but love your new home. Here are our 11 non-emotional tips for buying a home.
It maybe a very easy tip, but only buy what you can afford. You will be surprised by the number of people who search for property on what they ‘believe’ they can afford, rather than what they can ‘actually’ afford. Before you start your search seek advice on what mortgage you are able to achieve, also get an idea of the monthly repayments, as it’s this figure that is the most important. Calculate the monthly repayments into your monthly finances; will you be able to live?
The majority of people start their property search online, tempted by the property portals and the abundance of property at their finger-tips. Don’t discount the importance of your local estate agents. We can ensure you get to see property before it hit’s the portals, keeping one step ahead of other potential buyers.
One thing we see quite often is buyers trying to match a property to meet a long list of criteria. Try and create a top three list of requirements and be open-minded. At Ellis and Co Golders Green we like to chat to buyers and find out what they are looking for in a property. We want you to trust our judgment, and show you things outside your comfort zone, you will be surprised by the number of buyers who go for the wildcard.
- What to view
You have a shortlist but what to view? Go and see as many properties as you can. This will give you a feel of the market with regards to size and price. It is great to look at properties first online, but only when you physically walk into a property can you really get a sense of the space.
We have a motto for viewings ‘honesty is the best policy’. When you are viewing with your head and with your heart, tell the agent exactly what you think. You are not hurting people’s feelings but giving us, the agent, an invaluable insight into the type of property you are looking for.
Please ask questions, we expect them. You will have questions about the street, neighborhood, the property, the services etc. ask away. You don’t want to leave and think ‘I wish I had asked’, yes we have all done it. If you forget to ask something, please feel free to contact the office, we will be more than happy to help.
- Buying a character property
A character home is all about emotions. You fall for the period features, the irregular shapes and the unusual details. But put those emotions in a box right now. Buying a character property is buying a piece of history and as such can be costly. Can you afford the maintenance this property will need? Have you got the time to do it? Yes we know, questions you don’t want to be asking yourself when viewing a beautiful home, but you do not want to be left with a huge bill you can’t afford a year or two down the line.
- Buying a newer property
One of the great things about buying a newer property is that the maintenance is considerably lower than a character property. Newer properties can have extras like an en-suite but their room sizes are often smaller than character properties and storage space is poor.
- Buying off plan
Buying off plan is exciting; you get to choose all the finishing touches, the style of kitchen, the colour of the carpets. But what will your property actually look like, and can you honestly get a feel for the size of the rooms? We would recommend visiting a show home, even if it’s on a different site, to not only understand the space but to see the quality of finish.
10. Making an Offer
We all love a bargain and buyers are getting more confident in putting offers. Do your homework. What have property in that area sold for in the past? If you are one of several people interested in a property you want to make an offer that is fair, competitive and attractive.
Whoops! Our number 11 tip is to include emotion. We all have gut feelings when we walk into a property, and emotions play a critical part when buying a home. Home viewings should also be from the heart so enjoy each viewing; you will know when you have found the right home.
Thinking about buying a home or moving? Register with us today and let your buying journey begin.
Call James Ryan on 0208 457 5590