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Choosing your new home

Take time when choosing your home

Purchasing a house is the biggest decision you will make during your lifetime; hence, you need to make sure you have considered everything when you are looking at moving. How many bedrooms? Are you going to start a family? If it is a new area that you are moving to, do you know what the schools are like? What is public transport like? All these questions and many more need to be taken into consideration when looking for a new house.

As this is the biggest expenses of your life, you need to consider your mortgage payments. Can you afford to pay £x amount every month? Is it worth staying in your current accommodation for another six or twelve months if you can, as you doing so might add another £x to your savings – meaning you can put down a larger deposit when you apply for your mortgage – or it may even widen the scope for the size of house you buy. Normally the larger the deposit, the lower your monthly mortgage payments will be.

Once you have found your house, it is worth checking how much houses have sold for in the recent area, to make sure that you are paying the correct amount. (Remember all houses come in different states).

You might also want to check the local area to see what amenities are available; are the shops, parks and streets clean and tidy? Or are they dirty and rough? You can also look at the police crime maps which show any recorded crime in the area.

It is also worth checking with the local council to see if there are any planned building developments in the area that might affect your new property. You can also check with the Environment Agency regarding the risk of flooding in the local area, and if the property is in a high-risk area.