Investing or renting a new home is a process that takes a few months, it requires meetings with brokers and a continuous process of not being satisfied with the option unless, of course, you are lucky enough to find the one you are looking for on the first two tries.
Leaving aside the dreamy reality of investing in a new property there are some practical factors that need consideration before having your signature on the forms. What exactly should you look for before making that down payment? Here are some that might be applicable to your decision.
What is your future like?
Unlike renting where sometimes it may not be for a long period, buying a home is quite a hole-in-the-pocket investment so it is vital you are making it based on your future. Are you buying the home alone, as a couple, or wanting to start a family? The size, location, and investment incurred should be worthwhile and long-term. So, wherever your home is factor is the how long you are looking to live in the location and the proposed life plan.
Does it need work?
Most rented homes may not come fully furnished so you will need to do that on your own. Better yet does the house need work or maintenance work beforehand? You can contact a company that offers Bendigo property maintenance services to take a look at your home. They will be able to handle any maintenance work that may be required. Even if you are buying a home and have changes that you will like to make, they are an ideal option to consider to ensure a high-quality job and reliable job.
Homes on the outskirts of a city are generally cheaper while homes on a coastal road or a holiday location will once again be on the pricier side. Mortgages are a lifetime payment so buying a home within your means is important.
Does it meet your needs, are you able to pay for it continuously and does it meet your requirements are important questions to ask? For example, having a large house that is far away from a city or your place of work may be impractical if you do not have a vehicle or efficient public transport.
Is the house built practically?
There may be so many amazingly built houses that are not at all practical. It may be the layout, plumbing system or just the aesthetics that may not be practical when making a house a home. This one is mostly defined by personal preference but is something to discuss especially if you are not making this decision alone. Make sure all parties involved are happy with the plan.
Can you picture yourself living in it?
Whether you are buying or renting a house, do you see yourself making it a home? Do you feel safe, comfortable, and at peace? At the end of the day let your guy help guide you to the right decision.