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Property Listing, how to Search for your Dream Home part 1
By arlene | September 15, 2008
After assessing your financial position, you should know how much home you can afford. You should now go where your money takes you. Especially if this is your first house, you will have to accept that you will have to compromise on some of your wants, and that your expectations should be restricted to your needs.
Searching for your dream home is usually the most exciting part of the home buying process.
Location is extremely important
The three most important factors to consider when buying a house remain:
Location, location, location.
Once you bought a property, you can change almost anything about it. You can extend (by adding another bathroom or more bedrooms), paint, decorate, refurbish, change the garden, add a swimming pool and a number of other improvements.
You will however, never be able to move the home to another location.
A good location will make the house desirable for future buyers, thus adding to the value of your property and ultimately to the growth of your investment.
A poor location would severely limit the growth in value of that property, and will make it difficult to re-sell in future. In short, a poor location will result in a poor investment.
Always remember that it is better to buy the smallest house in the best area, rather than buying the largest house in a less desirable area.
Location might however have a slightly more subjective meaning for the homebuyer. It will most probably be determined by distance from place of work, schools and shopping centres. The climate, access routes and medical and recreational facilities might also be considered. Security and the crime rate might also influence your decision.
Select a suitable suburb
You might already have a good idea of your ideal neighbourhood. If not, selecting the most suitable suburb could depend on where your bank account meets your wish list. As we’ve said before, go as far as your money will take you.
Decide beforehand what you regard as important in your neighbourhood of choice. Some factors to consider include:
- Distance to work for you and your family members
- Proximity to schools: nursery, primary and high schools
- Distance to place of worship
- Proximity to shops
- Proximity to medical facilities
- * Access routes
- Proximity to recreational facilities, gym etc.
- Noise levels from traffic, railroad, airplanes etc.
- Crime rate
- Value of properties in the area
- General condition of houses and gardens in the area
Work with a map when searching for your dream home. Mark your workplace, the nearest shops, schools, hospitals or any other amenities that are important to you. How accessible are highways and other important roads? Also mark the areas that you want to avoid. Consider possible noise from busy roads, railway lines and airports.
It is very important that you should be happy in your new environment. Do the surroundings appeal to you? What about the types of homes in the area? Are the gardens well-kept? Are the streets and pavements clean?
What do you need in a home?
Most people start looking for a house with only a vague idea of what they’re trying to find. Most buyers are in search of something they cannot describe.
An apt quote from Kiplinger’s reads:
“Buying a piece of real estate is a science. Buying a home is an art. The science is getting the legal and financial part right. The art is finding a property that you’ll be happy living in.”
A solid starting point would be to decide exactly what you require in a house. If you are buying your house with someone else, consult with your partner about his/her expectations. Once you have completed your list, classify all your needs and wants in order of importance.
Discuss your list with your family and friends, listen to their advice and learn from their experience. Above all, be flexible and decide what requirements you could do without beforehand. Study property advertisements and phone an estate agent to discuss your needs. The agent could tell you whether your expectations are realistic within your specific budget in the area of your choice. At the same time the agent learns about your requirements and would be able to inform you of available properties that might suit your needs.
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Topics: Agent, Investment, Property, Rental, Residential | 6 Comments »
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