Buying Your Next Home - Where Do You Begin?
Before you begin your search for your next home, spend a few
minutes deciding what is absolutely vital in your new home purchase, and what would be a
nice-to-have.
Location
You may have always wanted to live in the center of Cardiff, or in a renovated farmhouse in rural Camarthenshire, but now is the time to be realistic about what you can afford to buy. Location is critical to your decision. Do your homework. Get to know the area before you buy.
If you are moving to a new region of wales, you may wish to consider renting for six months before buying. Sites such as http://www.upmystreet.co.uk/ and
http://www.homecheck.co.uk/ have useful background information on different areas of wales.
Old vs. New
Do you want a new home or an old one? Do you like renovating, or would you prefer to have everything ready from the moment you step in the door? There are advantages and disadvantages to both options.
Many home buyers are choosing newly built properties because of the design, quality, sustainability and choice they offer. These provide compelling reasons to opt for a new home rather than an older property.
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When you buy a new home, you can move in as soon as it is finished. There are no selling chains to consider, so the whole process is much easier for buyers.
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Good specifications can come as standard in new homes.
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Most new homes have a ten year warranty.
Also, buying a new home means that everything is brand new; you can start living straight away and don't need to spend money or time on redecorating and repairing your new home.
In fact, the table below shows you just how much you can save on buying a new home in comparison to the amount you would have to spend to bring a second hand home up to the same standard.
New kitchen units including fittings |
£6,000 |
New heating systems |
£4,500 |
Replacement wiring |
£2,360 |
More roof insulation |
£355 |
Redecoration including materials |
£2,000 |
New bathroom suite |
£1,658 |
Replacement windows |
£5,000 |
New guttering including fitting |
£600 |
Total (excluding VAT) |
£22,473 |
Older properties have character, history, and a track record. While they usually need some work to them (unless they've been recently renovated top to bottom), these renovations can give you the chance to significantly increase the value of your home.
Requirements checklist
The easiest way to keep you focused on your needs is to make a checklist of requirements. Below is a list of options that you might want to define.
Basics:
Price
Location
Old or New
Flat or House
Freehold or leasehold?
Size and State of Interior:
Bedrooms
Bathrooms
Reception rooms
Kitchen
Hall
Storage space
Heating
Water supply
Other comments:
Exterior considerations:
Garden or outdoor space
Parking/Garage
Paint
Walls and Pointing
Roof
Drains/Gutters
Window frames
Proximity to:
Work
Public transport
Schools
GP
Shops
Health club
Family and friends
Other considerations:
Age of property
Amount of renovation needed?
What direction does property face?
How long has it been on market?
Is it in a quiet or noisy area?
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