Things To Think About When Buying Your First Property

Buying a house is a major investment and in most cases, it’s the sort of investment that people will buy once or twice in a lifetime. It’s not like buying cars or groceries, it’s a major life decision and one which it is very easy to get emotional about and make mistakes that you will pay for many times over as you move in and move forward with your life. There is no foolproof way to make sure that you get the best value but there are definitely things that you should be looking out for when making your offer to purchase. Here are a few tips to help you ensure that you get what you want and, that you get more than you paid for. 

 

Safety is important 
It’s not just about the location, which we all know is critical, it is also about the safety and peace of mind that you will experience in your new place. It might be a cliché that you can’t put a price on peace-of-mind, but it is very much true. Once you have a place in mind go online and find the local experts, a quick search for something like security systems Melbourne should do the trick in helping you find the resident experts. Ask for an assessment on the existing set-up. If they tell you that what is there already is anything less than the best, make sure you factor that in to the offer that you make – because without a doubt you are going to want a top class system and they are not necessarily cheap. 

 

Paint 
What is the state of the paint on the external walls. A slightly tatty house, in desperate need of a new coat of paint will be billed by an estate agent as a fixer-upper, but that doesn’t necessarily reflect in the asking price. What it actually is, is a politically correct way of acknowledging the state of the house. And as a new buyer you need to know that painting a house is not something that you can do on the cheap. A proper paint job is expensive, and a house should be painted on average once every ten years, so find out when last it was painted and then factor the costs of a paint-job into the asking price. 

 

Think about the future 

We have already pointed out that buying a house can be an emotional and subjective purchase. But buying it just because it’s ‘cute’ or because it reminds you of the place you grew up in or because it is close to where your friends live, is not a good enough reason to buy. Ask yourself where you want to go in life. Are you planning on children? What is your earning capacity? Do you want pets? Do you need space to park a car (or more than one car)? All important questions, the answers to which impact directly on what and where you chose to buy.  Because as we have already said, it’s an expensive exercise, not just from a capital outlay perspective but also in terms of the other costs associated with a property purchase. You don’t want to be moving again in a few years!   

 

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