Buying any home is one of the biggest financial transactions that will take place in any person life. It is also one of the most important decisions that any person can make. When you are getting on the housing ladder for the first time, the property you purchase is highly unlikely to be your dream home. It is far more likely that your first property will be heavily dependent on finances and may be much smaller than one that you will purchase later in life when finances have potentially improved. In America the average age of buying a first home is 27 when a “starter home” tends to be purchased. Regardless of your position on the property ladder or your overall budget, there are some key decisions to consider that will allow you to find the perfect home for your current circumstances. This article explains three of these considerations.
Location is vital
It is recognized that the location of a property is almost as important as the property itself. In some circumstances it can be a prime purchase decision. The location of a property determines what services and facilities are in the nearby area, what the general neighbourhood is like, and dramatically affects the value of the property itself. It is well worth writing a “wish list” of the key attributes that you want from the location of your perfect home. Should it be in walking distance of local shops and amenities? Is it important to have good road links to other areas to make commuting to work easier and quicker? What are the crime statistics for the neighbourhood and is it a good place to raise children. When you have considered what constitutes your ideal location, factor in the local climate too. If you live in America and want to benefit from warm temperatures and long summers, looking for homes for sale in Anaheim could be a perfect option climate wise.
Consider the long term
It is always wise to consider the long-term picture in your home purchase plans. This may be less relevant if you are looking to secure your first property and do not intend to stay in the home for the long term, but is an important consideration as you move up the property ladder. Think about the location of the property, is it in decline or are house prices rising locally? As you grow older and your needs and wants change will you still be happy with the home and the nearby facilities? If you are planning to start or raise a family, is it a property and location that can facilitate this?
Never be afraid to negotiate
It is vitally important to remember that as a prospective buyer you have the power to negotiate when it comes to the listed price of the property. Knowing how to negotiate effectively can help you to save significant amounts of money if the offer is accepted and this money can be used for future home renovations and improvements. One way to negotiate effectively is to thoroughly research the state of the house market. Is it in growth or decline? Look also at the neighbourhood of the home you are interested in buying. Are similar properties being offered for comparable prices? Being armed with up-to-date information and a thorough understanding of house prices will give you the ability to put in counter offers that may be realistic enough to secure the property at a better price.
