Purchasing a home can be both exciting and scary. It is a major investment and, therefore, careful strategy and planning can help ensure success in finding the right house. Here are a few tips to help your search easier.
Firstly, set a practical budget. Housing is pretty expensive, so for starters, you want to determine your budget and with that you will weigh all the options. You will need to look around for what’s available and carefully calculate the value of your investment. You will need to be discerning enough to recognise overpriced houses and avoid them.
Secondly, be clear on your requirements. While it makes sense to consider a home for your current lifestyle, it’s important to keep in mind whether that it home can be repurposed for different opportunities in future. Will your parents move in with you one day? Do you plan to have children?
Consider whether that office space can be used as a room for those parents or children. Thinking about the flexibility of space in your home is important for unexpected changes that can come later in life.
Also, evaluate the home’s proximity to schools and hospitals and entertainment areas. Would you like to entertain guests, host dinner parties, or expect frequent visitors from out of town? Take this into consideration as well.
Is your home easy to get to? Does the space allow for hosting all those special occasions you have in mind? Are there neighbours out and about engaging in community activities?
Social time is an integral aspect of healthy living. Keep in mind whether a home offers you the opportunities you desire for socialising
Lastly, think about the cost of maintaining the home. Many people look at the cost of purchase, down payments and mortgage when considering a home, but it’s critical to keep costs of maintenance in mind. Maintaining the roof, paint works, security, electrical and mechanical systems in the home and other aspects are not just budgetary concerns.
Are you ready to put the time and energy as well as money into preserving your investments? Even after inspections, homes can come with maintenance surprises, and you must be prepared to deal with those issues. The writer is managing director, Ana Consultants Ltd, quantity surveyors and project managers. Email: [email protected]