Looking at buying your first-ever family home? Perhaps you’re tired of the old and ready for an upgrade? Or maybe simply you’re looking to buy a second property/a holiday home…?
Buying a new house can be quite frustrating, since there are so many factors to consider, apart from just the asking price, and your dream home could fly off the market just as quickly as you first spotted it, especially in Melbourne, where houses are generally sold before 30 days. If you are looking for a house in this area, it might be better to go through a real estate agency, and Top10 lists some of the best. Purchasing a home is no fast flight and the entire process can take up to a few months before you finally find your ideal home. Yet many owners are often left with buyer’s remorse after buying their home as they didn’t conduct the appropriate research prior and rushed into things.
Buying a home should be an exciting process, in which it can, as well as easy enough if you know what to look out for. Here are a few things to keep in mind when purchasing a house.
Can it be built on?
Random question? It may seem like it at first as building may be the furthest thought from your mind at the moment...you are after all purchasing an already-built home to avoid the hassles of building. But it’s useful to consider future plans in this one.
You might be buying the house now as it is, yes, however, you may find that in a few years’ time as your family grows, for example, or if you get a sudden raise at work that you want to add in a new room to the house or extend your kitchen?
Considering this, it’s of vital importance to check whether or not the house/property has been approved by the local municipality to be built upon - you don’t want to be left in the dark later.
If you’re not keen on the idea of building and aim at avoiding this endeavour at all costs, may sure to check if the house has certain features that meet your requirements, for now, and possibly future-planning, such as a swimming pool, an outdoor area, a third bedroom, etc...
Of course, the inside of the house is the most thrilling part of any house-tour, and it makes sense as most of your living is done within these walls. But remember, don’t just focus on what’s going on inside, the exterior of the home and property is just as important!
For starters, a house’s exterior can often be costlier to maintain than the interior workings of the home, so it’s useful to make a mental check-list of exterior factors to check whilst taking a tour.
The roof is extra important as this could end up being one of your biggest expenses if damage occurs or anything needs replacing/repairing. Inspect the roof for any missing roof tiles, or if there are potential leaks.
Check the walls around the house for any cracks as this could actually lead to foundational damage, lookout for cracked windows or any that require burglar proofing, or if there are doors that are needing new hinges…
Although seemingly small fixes, when you add up all these expenses, they can end up amounting to a hefty sum, costing you a large payment.
Whilst things may appear pretty on the outside, it’s always advised to do some deeper digging.
A lot of homeowners, especially considering today’s times, trying to sell off their property quickly, will try and attempt to hide any major damaged with quick fixes. A common trick involves trying to conceal water damage by giving the area a flick of paint, so the dampened water-spot becomes hidden which could in fact cause serious health complications! - so don’t be left the fool.
This isn’t just limited to walls or ceilings just FYI and it’s just as important to check all household cupboards and built-in cabinets too. And remember to run a fine eye over windowsills for any cracks/painted over cracks, people can be so sneaky/really try their luck.
The size of the house
When looking to buy a house in the present moment, you have a certain lifestyle/needs and wants that go along to suit these. Don’t get carried away in excitement, and do remember that your current lifestyle may indeed change at some point, for whatever given reasons. When thinking about your desired house size you should always keep an open mind.
Don’t forget that often owning a big house comes with its own additional expenses, and apart from having to maintain a largely sized property, there are other factors to remember.
There are now a lot of rooms to clean, more paint that’s needed when painting walls for example, or even the amount of windows to replace if broken increases.
Our advice? Always consider the size of the house in relation to the number of rooms, checking how big each room is and if these will fit your needs now and in the future. Potentially a new addition to the family in the next two years? You may want to think of a house where the master and potential nursery are within close proximity as one example.