Buying a Forever Home? Make Sure Your Upgrade Goes the Distance.
Nothing beats the thrill of buying your first home. The buzz of the auction, the nerve-wracking anticipation and the overwhelming sense of accomplishment when moving day is finally over.
When it comes to upgrading to your forever home, you are wise to be just that little more level-headed. After all, when you’ve got your heart set on a property that will take you and your family into the future, it’s worth giving everything more thought to ensure it’s the one.
Tips for Buying a Forever Home
Here are three key tips for first timers.
1. Location
Stereotypical, yes, but location is almost always the most important factor to consider. Proximity to schools for little and big ones, transportation, access to major arterials for ease of commuting to work, and let’s not forget the all-important shops and entertainment precincts. Parks, gardens, walking tracks, and of course, being close to friends and family; these are drawcards for any property purchase. It’s a huge decision so consider it wisely.
2. Opportunity to adapt and grow
You might not always find your forever home comes complete with every design feature or living zone that matches your wish list. However, if you’ve got a keen eye and an interest in creating that once in a lifetime space, make sure your next purchase allows you the opportunity to expand. Whether it be up or out, be open-minded about what could be.
3. Structural quality could break the budget
Upgrading to a forever home means you’ve been in the sellers’ seat before. Prepping a home for sale requires you to do everything from styling it to look and feel spacious and making it stand out from the crowd. It could require you to do a few strategic moves to mask some niggly concerns. Whether you are a first time buyer or a seasoned property buyer, it’s worth making sure that your new property is structurally sound and not too good to be true.
If a pre-purchase property inspection on your potential forever home shows matters that need addressing, you may be able to use it to negotiate your purchase price. And if there are too many issues that come to light, at least you can walk away before signing on the dotted line. And don’t be hasty if you feel like you need to rush to buy a home, without a property inspection before your purchase, it may cost you so much more than necessary.
Juggling that process of buying on the condition of selling your current home can be a challenging time so ready yourself. Contact your bank, let your conveyancer or lawyer know what your plans are and get your agent on board. With a team of professionals on your side, you’ll equip yourself with the right advice and key information – and making the big decisions will be that much easier.
