5 Tips when searching for a new home

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The hunt for your new home whether it be your first or your fifth home can be overwhelming, especially if you are not prepared. In a strong market, it may also mean that you look through several properties and make many offers before you finally purchase.

Determine the type of property

Everyone’s journey to homeownership is different and before starting out on the path to looking for your new home, make a list of the requirements that you want or need in a property.

Make note of the size of the property that you need including bedrooms and bathrooms, and if you would like a backyard or minimal gardening. Add in your wants, which may be items like pools, gas or electric cooking, storage areas and inclusions.

To renovate or not to renovate

Consider the type of property that you are looking for and your time. Would you like a property that is a renovator’s delight or something that you can walk into without needing to carry out any work?

If you do decide to purchase a property to renovate, you will need to account for additional costs that can come with the work and if you will need to relocate for a period while the renovations are being carried out.

Arrange your finance

Speak with your financial advisor prior to researching and heading out on your hunt for a property. Ensure that you have pre-approved finance so that you are ready to make an offer should you find a property that suits your needs and requirements.

Look for the location

Narrow down the location that you would like to be in. Do you need to be close to school catchment areas, work locations, and public transport or are there certain amenities that are on your must-have list?

Once you have decided on the location, you might like to drive around the area and check out the neighbourhood and look at surrounding areas that may be in your budget.

Don’t rush the decision

Purchasing a property is a significant purchase and a major life decision. It is wise to consider your decision before you make an offer for the property.

When you are inspecting the home, step back and see if you can see yourself living on the property. Does it meet all or most of the requirements that you need or is there more work that would need to be done to the property than you are willing?

Above all, trust your gut feeling when you walk into the home. Buying a home can be a very emotional experience and how the property feels when you walk through the front doors, to when you walk around is an important part of the buying journey.

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