Although buying a home is one of the biggest expenses in our lives, people are very often quick to make a decision about the purchase. It isn’t unusual to open negotiations to purchase on or shortly after the first viewing although this can sometimes lead to oversights about the location of your new home.
The location should really be the first consideration when buying a home as it’s important that you have everything you need to support your lifestyle within a short distance. Here we give you five tips on choosing the best location for your home:
1. Check your Budget
It’s important to be realistic about where you can move to and although you may prefer a certain neighborhood, it may be out of reach. There’s nothing worse than seeing your perfect home on a drive-by only to find out later that you can’t afford it. Work out exactly how much you have to spend on your new home and then check out the listings of the neighborhoods you like the look to see what you can reasonably afford. If you’re considering a new-build, take a look at project homes Sydney as a good start when trying to figure out your budget.
2. Make a shortlist of your wants
Once you have worked out your budget, you should make a list of the things you want in your new home. Perhaps you want to have a large garage you can use as a workshop or you want a property that needs some work. Whatever your criteria it is, you can now scout for properties in the areas that are within your price range and contact an agent to get more advice.
3. Consider your current life stage and lifestyle
Do you children who are already established at a certain school? Are you a newly-married couple who expect to have children in the future? Perhaps your kids have flown the nest and your downsizing ahead of retirement? We are all at different life stages and that means we have varying needs. You don’t want to live in a neighborhood where you’re the only young and growing family or the only retirees. Talk to agents or make trips to locations you like to get a better feel of the community living there.
4. Be updated on new developments in the neighborhood
Some people buy property for investment purposes and they generally have different criteria when searching the market. Others are concerned about the possibility of new roads or large infrastructure projects taking place in the future and its potential impact on property prices. Generally speaking, if there is a lot of new development in an area, the existing properties tend to increase in price. This is great for investors who are looking for properties to appreciate in value but it may have a negative effect on your lifestyle if it’s your home.
5. Meet the neighbors to know whether they share the same life stage and values with you
As mentioned above, it’s good to live somewhere others are at the same life stage as you so that you can get fully immersed in the local community. Living alongside people with very different attitudes or values can lead to an uncomfortable feeling which is the last thing you want in the place you call home. When you’re looking for a new home, go to some local bars or cafes and get talking to the locals so that you can find out more about the community spirit.