If you are fortunate enough to buy your first home and you have started looking at the housing market in the effort of finding your dream home, you have most likely experienced a wealth of stress that also comes with purchasing your first house.
Not only do you need to determine what you want from your home, but you also need to ensure that you are on a budget, know how much deposit you need, and are aware of any additional costs that you may experience.
Plus, once you have found your dream home, you need to complete all the paperwork to ensure that you secure your dream property.
Are you a first-time buyer trying to navigate the confusing world of securing your first home?
If so, here is a guide that could help you find your dream property.
Know Your Budget
Do you know how much money you have to spend?
If so, then finding your house should become a lot easier – all you have to do is stick to your budget or find a home that is beneath your highest figure.
While there may be temptation for you to try and secure a home that is currently out of your price range, remember that there will be additional costs associated with that property.
After all, you are not only buying the property.
You will also need to pay the bills associated with the house.
These bills will typically be your energy and water bills, but also home insurance.
This can all add up, so be sure your monthly earnings can cover these expenses.
Make a ‘Wants’ and ‘Needs’ Checklist
You will want to clearly define your ‘wants’ and ‘needs’ so that you know the differences between them.
For instance, do you ‘need’ or ‘want’ three bedrooms?
If it is a need because you and your partner are planning on having children but also need an office space, then this should be noted down so that you do not settle for a home that has fewer bedrooms.
On the other hand, if you ‘want’ a smaller home and one that utilizes as much space as possible, then you may wish to look at small house plans instead.
These are great for those who are interested in living in a cozy home that allows its occupants to live an eco-friendly lifestyle.
Be Aware of Additional Costs
As previously touched upon, buying the property isn’t the be all and end all.
You need to ensure that you can also afford to run the home.
For instance, you will need to power up your home, keep it cool during summer, and warm during the winter.
Utility bills will vary from time to time, but make rough calculations to ensure that you can afford to live in your home and pay the bills before putting an offer forward.
However, you will also need to be aware of additional costs with buying a home, such as:
- Solicitor’s fees
- The cost of moving your furniture
- The cost of buying new furniture
- Stamp duty
Buying your first home is incredibly exciting, and while it can also be stressful, these stresses will only be momentary.
Consider the aforementioned tips when buying a house so that you can limit the amount of stress associated with buying your first home.