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What To Consider When You’re Buying Your First Home

  • August 30, 2019

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What To Consider When You're Buying Your First Home

When it comes to buying your first home, you might be incredibly excited. Getting your foot on that first step on the property ladder is a great thing to do - it represents success and security. But there are a lot of things to consider. If you feel confused, here are a few questions that you could ask yourself.

Where Do You Want To Live?

First and foremost, you need to consider where you want to live. A lot of the time, people focus on the property itself at the detriment of considering the area in which they want to live. In that case, it’s important to think about your lifestyle and the way that you live your everyday life. If you need to commute to work, you need to live near a transport hub, which means that you may have to compromise and live somewhere smaller than you’d like to. If you work from home, you’ll need an office space. You may also want to consider your proximity to your relatives - if your mother looks after your children regularly you may want to live closer to your parents, but if you have a rocky relationship with your family, having some distance may be a smarter move.

What About Your Finances?

It’s important to consider your financial situation. Not everybody has perfect credit - some people make mistakes with credit cards when they’re younger which can be bad for their credit ratings. If that sounds familiar, look up how to get a VA loan with bad credit for some tips on what you can do to secure your dream property. Being realistic with yourself about your finances is crucial - you won’t be able to enjoy your new place if you find yourself incredibly strapped for cash after you move in. Staying within your limits is an important thing to learn.

What Are Your Expectations For The Future?

Consider what you want from your future. Your new home isn’t just for the situation that you’re in now - it’s also for your future self. If you and your partner want to have kids in the near future, you need to look at school areas, and you need to make sure that you buy a home that has ample space for a growing family. If you really want to get some dogs, you’ll need a home that has plenty of outdoor space with grass at the back, and preferably near a dog park so you can take your pets on lots of safe walks. If you want to advance at your company, it will be doubly important to make sure that your home doesn’t make your commute inconvenient or hugely expensive.

What Do You Want And What Do You Need?

Finally, you need to figure out what exactly you want, and what you need. A lot of people have visions for their future homes - expansive utility rooms, huge larders, a plethora of bathrooms - but the truth is that not all of your wishes will come true, and you need to figure out what exactly you need from your new home. You need to be close to your child’s school - you don’t need to have four spare bedrooms. 

Buying your first home doesn’t have to be stressful - these tips should help you figure out exactly what to do.