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I have a great contributed post for your today -- the #1 first time home buyer property checklist. It's for informational purposes only, so please consult financial and real estate professionals before making any decisions with money or buying / renting a place. Got it?
So you’re finally looking to stand on your own two feet, whether it’s alone or you have a family on the way. You know there’s a lot you’re going to need to do, and you know it’s going to take a lot of effort and a bit of stress on your part, but in the end it’ll be worth it. Well, to make sure everything you put into a sale pays off in your living costs, you’re going to need a checklist to live by.
Houses are expensive and a long term investment for anyone to rent or buy, which means everything needs to be up to scratch from the moment you’re interested in it. So, here’s the number one property checklist for you to check off a house’s good and bad points against. It’s all for the good of your health in the long run!
Be aware of seller’s tricks, as they’re always looking to make a sale no matter what! If there’s music playing during a house viewing, immediately turn it off to see the natural ambiance of the house. Of course, the occasional train rattle or foghorn isn’t going to be too bad for your investment here, that’s just the sound of city life!
In general, if you’re planning to live in the middle of a busy city, or near the train tracks on the outskirts of town, you’re going to want to make sure the noise isn’t too invasive as to keep you from getting a good night’s sleep each night.
We sometimes settle for a house because everything else is good for us, and forgo looking for a bigger place because we don’t want to try our luck. However, you’re not going to be happy or satisfied with a property that can’t fit you and your family in properly! Constantly bumping into furniture, no room to breathe, and the added bonus of constantly getting on top of each other? No thank you!
If the rooms in your new house are too small, you may also have to spend more money on furniture that will actually fit in them. Now where is Grandma’s cabinet going to go? All in all, it’s just not worth it for your time and effort levels to spend on a house where you’re going to have to sacrifice your living plans just to be uncomfortable.
Remember, if not you’ll just find yourself getting frustrated with where you live and constantly changing service providers! If you’re in the younger age bracket, this is especially important for you to consider. Not only will bad reception make keeping in contact with other people a lot harder, but seeing as a lot of modern jobs are to do with the digital and work online, it’s going to be important for your career prospects as well.
Make as many calls as you can when you’re viewing a house, at least one in each room, to make sure the signal can still reach you the deeper you go. Similarly, try out a few 4G tests as well; if the WiFi goes down as it’s wont to do, you’ll need a backup!
Clearly, hot water is a modern necessity, as cold water just doesn’t cut most household tasks. If you’re washing up, the heat makes it a lot easier to scrub, and if you’ve had a bit of an oil spill, cold water isn’t going to touch the surface. For hygiene needs, hot showers have a lot more health benefits to them than taking a cold shower, not to mention the undesirable effect of feeling frigid water on the skin.
If the house you’re interested in doesn’t turn to hot quickly when you turn the taps on, or you notice in the back cupboard there’s limited tank space, this might not be the right place for you. Of course you can make do and even upgrade when the time comes, but if you have a bigger family to care for this won’t be a good investment to start off with.
The property market needs more landlords that are approachable and genuinely care for their property health, and subsequently those living inside it. The checklist for investing in a good property to rent out is a lot simpler than what to look out for if you’re buying to live, which is more of a long term contract. Seeing as investment is the main thing for you to do with your money when it comes to the real estate market, the signs that mark a good place to stock up on a bit of your profit tend to be the same from area to area.
If you’re up to buying apartments, the number one thing for you as an investor is to know if you’re in a desirable location or not. Making a return on an investment is the aim of the game, so if you are in the right area, prices are going to be on the higher side and you’ll get a lot more bang for your buck. This can end up working against you and long term clients aren’t likely to stick around. But, it also means you’ll be making money on a person by person basis, as people tend to come and go in these kinds of places, and it’s a good source of income renter by renter.
There’s a lot to get to know when you’re in the business of real estate, and there’s a lot more to know when you’re just looking for somewhere to settle down. It’s this that can catch you out when an agent is trying to sell something off to you, as you feel like you’re never going to know all of the lingo! Hopefully this article can help a little to go a long way when it comes to that!