Buying a home is arguably one of the biggest steps a person can make in their lives, second only to starting a family. One often follows the other, and with these big decisions also comes a fair amount of stress for the deciders, being that these decisions have long-lasting implications and potential unexpected problems.
To help with the stress factors involved in buying your first family home, we have put together a list of factors to keep in mind throughout the search and acquisition of the said home. With a bit of luck and some hard work, your dream home will be yours in no time.
The biggest roadblock many people encounter when searching for their first home is located. They know where they want to live but they don’t have the money to buy in that suburb, and so the process becomes finding the closest, cheapest home they can find instead of their ideal one.
Unfortunately, it’s not always realistic to buy the place you want right off the bat, but suburbs are big and there are usually at least a few different houses up for sale across any given suburb at any time of the year. Alternatively, you can purchase an empty lot and contact some home builders in Sydney to get a quote for building your own place instead of buying an existing one, though this is an extensive process.
The next major roadblock is the cost of the place. Many homes in Sydney, especially in the inner suburbs are up over one million dollars as a starting price these days, and that is hardly a good price for first-time buyers. You would ideally be looking for places that are fifty to one hundred thousand dollars cheaper than their counterparts, identifying why the cost is lower, and then deciding if you can live with whatever that downside might be for the reduced cost.
The features of the property is the first of the exciting things to begin looking for. School zones for your future kids is a good starting point, because this will guide you into the vague locations you’ll be looking in, and public transport routes are always good to keep in mind. Other, house-specific things can be added at later dates in renovations, so if you really want that second story on your home but can’t afford an existing two-story house, don’t let that dissuade you from a home for sale.
The room you have on the property should also be at the forefront of your mind because a large front and backyard can also be thought of as room for expansion of the house. Extra bedrooms, a larger garage, an extra bathroom or even a new and improved master bedroom are all on the cards if you have the room for it, and these expansions all increase the value of your home too, making them an investment instead of a standard cost.
Finally, having a qualified builder assess the building for safety and security is a good idea, because buying a place is expensive, but fixing a roof that has caved in because of a storm is even more so. It’s common practice to have a home assessed for safety and to make sure it adheres to building codes and practices prior to purchase, so don’t be afraid to insist that this takes place prior to the purchase itself.
With these factors in mind, you are more prepared to take on the task of purchasing a home. Remember to remain optimistic and look far and wide for your dream home.