If you’re seriously considering purchasing a property, continue reading to discover a few questions you should ask yourself before you start property hunting.
Things to consider before buying a property:
1. How many bedrooms will you require in the future
If you plan on living in a new property for the foreseeable future, it’s a great idea to think ahead and to contemplate how many bedrooms your family will require in the future.
As an example, if you plan on starting a family in the next few years, you may require an extra couple of bedrooms. Or if you plan on moving your aging parent into your home in the next decade, you may also require additional bedrooms in the future.
2. What type area you’d like to live in
As an example, you may dream of living in a small town where everyone knows your name or you may be more interested in living in a bustling city which is known for its nightlife.
So before you think about buying your next property, it’s definitely worth carefully considering what suburbs, towns, and cities you’d be open to living in. If you plan on starting a family, you may also want to consider moving to a town or city where you have friends or family members to call on for support.
Once you’ve identified a few potential areas that you may enjoy living in, it’s well worth spending a day exploring each potential area, to see what amenities and facilities are on offer. As you’ll soon discover which areas you can really see yourself living in and which areas you may not be interested in living in.
3. What your budget is
Before you start hunting for properties it’s well worth setting a concrete budget. As an example, if you plan on applying for a loan in order to purchase a home, you may want to meet with a bank manager to see how much money they would be willing to loan you before you start hunting for homes.
However, don’t rely on the figure given to you by the first bank manager who you talk to as it’s a far better decision to shop around and to receive multiple quotes from different bank managers at different branches.
4. Whether you’re willing to renovate a property or would prefer to move into a more modern property
If you’re looking to stretch your budget you may be interested in purchasing a home which is in need of a renovation as such properties can usually be picked up for a steal.
However, if you don’t have the time and energy to commit to renovating a property you may be better off looking to move into a more modern property. Which won’t require any urgent renovations and will be ready to move into, straight away.
5. Create a list of deal breakers
While you may have to compromise a little, when it comes to purchasing your next property it’s also well worth creating a list of deal breakers which you’re not willing to compromise on. Such as your property’s location.
If you ask yourself the 5 questions listed above, you should be ready to start checking out options from Conveyonline.com.au and hunting for the perfect property.
