2021 is probably the best time to buy your dream home. Mortgage rates, while still low, are beginning to climb, with some mortgage experts thinking they could move from 3% to 3.4% by the end of the year.
The pandemic has left many buyers (and lenders) nervous. So if you are fortunate enough to find yourself in a position where you can purchase your dream property, now is your chance.
Before you begin your search, here are five key factors you should definitely look at in your pursuit of the perfect place to call home.
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The Perfect Location
When it comes to property, as the old saying goes, location is everything.
Location is the only factor of a house you can’t change, so it needs to be perfect. If you want a new home that will be an investment, you must first find the best location.
Before looking at properties, take a drive around the local area to familiarize yourself with each neighborhood. Areas with upmarket shops, cafes, and restaurants will also command a premium in property prices.
Take a look at the local amenities and services, including the quality of schools, public transport, and parks.
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Garden Size
You don’t need to be a keen gardener to value an ample garden space. Garden’s aren’t just an opportunity to practice your planting skills; they also offer plenty of potential in a home.
For a start, extensive gardens and yards allow you to extend your home in the future if you decide you need more living or bedroom space.
And many people are now creating work and entertainment spaces in their garden by investing in garden rooms or sheltered outdoor dining areas.
A large garden size always appeals to families too. Consider this if you plan to start a family in the future or buy a house in an area popular with parents and young children.
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Renovation Costs
Large-scale renovation projects may seem romantic. After all, Pinterest will undoubtedly tempt you with dramatic before and after photos. But always be realistic about the likely costs of an extensive renovation a house may need.
Before making an offer on the house, get a professional builder to survey the property and estimate the work needed to renovate it to a standard you need.
Also, consider whether you can live in the property in its current state, as it’s not just money you’ll need to start a renovation. Sometimes it takes months to book in the laborers you need for the task at hand.
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The Asking Price
When considering the asking price, spend time comparing a property to other properties in that price bracket to get a feel for value for money.
Just because a seller sets a particular asking price doesn’t necessarily mean that is what the property is worth. So look at houses outside of your budget to discover properties that might be heavily overpriced.
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The Extra Wow Factor
Sometimes, the perfect house isn’t about the size or the price, or even the location. We often fall in love with our dream house because of some individual wow factor that sparks our interest.
Swimming pools, for example, are a fantastic bonus when looking for your perfect home. You can find houses for sale with a backyard pool by viewing these homes with pools.
What’s Your Perfect Place?
All of us have our individual idea of what makes the perfect place for our future dream home. But these five key features are a helpful starting point when you begin your house search.
Want more tips on finding the perfect home? Check out our latest articles in our home and garden section.
