You never thought you would be able to afford your own home, but the time has finally arrived when you are ready to put down a deposit and start the journey.
You are completely new to the housing market so there are several important decisions you need to make before you choose your home.
Since you have never been in this position before it is always wise to take every step slowly and think rationally about what you are doing.
From deciding on the location of your new home, to setting the budget, here are four fundamental decisions you will need to make before buying your first home.
Where are You Going to Live?
When it comes to deciding on the location of your new abode, there are several factors you need to take into consideration.
Do you see yourself living the city life in London and moving into somewhere like the Taper Building apartments? Or are you a country lover who would settle in better nearer the rural suburbs?
This is a very important decision to make initially as there are definitely pros and cons to both notions. Make sure you think about your future and what you might be planning on doing with your new home.
If you’re a single, professional who is looking for a smart flat with all the fancy amenities then a tower block in London might just be the way to go.
What is Your Budget?
Your budget will have a huge impact on your final decision and it will also need to be thought about in conjunction with your location.
You will be able to find a bigger property further out in the rural areas and you will have to settle for something slightly more compact if you choose to live near good transport links and a cosmopolitan setting.
Is Now a Good Time To Move?
You need to think about when would be the best time for you to make the move. If you have just started a new job or you’re going through a busy spell in your life, then you might want to delay the process a little bit.
Map out some time in the near future for you to get the ball rolling and remember that you won’t always get to choose what your move in date is.
You will need to rely on estate agents and solicitors to set the dates and confirm the exchange, so keep an open mind and be flexible.
Who are You Living With?
You might not be able to afford a new home on your own, so it’s always good to think about who you are living with. Whether it’s a partner, sibling or a friend you could split the costs and make the decisions together so you know you’re both on the same page.
So consider all four of these fundamental decisions when buying your first home, from your budget to location and you will have a smooth and non-stressful journey onto the property ladder.