Buying a home will be the largest purchase you ever make – and not one to take lightly!
There are many things you need to consider before buying a home, particularly if it’s one you’re planning to spend many years in. From the quality of the materials to local schools and transport, here’s our comprehensive list of things you should think about before making the big decision!
1. Determine your budget
When you’re looking to buy a home, your budget dictates your options. If you want to buy a home but don’t have a big chunk of money to put a deposit down, Shared Ownership could be a great option to consider. You will only need a deposit of between 5 and 10% of the share you’re buying, which could be as little as £2000!
Location is usually the first thing we consider when deciding where we want to live.
Try to map out exactly what you want from the area you live in. Do you want a lively, busy area closer to a city, or a quieter more suburban area? Do you want plenty of bars and restaurants? What about parks and schools for kids? Is it close to things like railways and motorways for commuting? It’s beneficial to think as far into the future as possible, as you never know what you might need!
3. Take your time
A standard house viewing usually only lasts around half an hour – which is nowhere near enough time for such an important decision! Make sure you spend plenty of time viewing the house and taking everything in.
4. Evaluate the space, but look past the décor!
Make sure that the house has enough rooms and space for what you require, but remember not to get fixated on its current décor and layout. The way you use the space in the home can change a lot, you might decide to create a home office or a gym. The space doesn’t have to be used in the same way as it is when you view!
5. Is there an option to staircase the property?
If you are buying a new build home through the Shared Ownership scheme, it would be helpful to know how far you can staircase your home. Some homes may have a cap on the amount of shares you can buy on your home, so if you want to buy through Shared Ownership with the aim of owning your home 100%, you should find this out first.
Are you in the market for a new home and are interested in Shared Ownership? Take a look at our homes here!