It doesn’t matter whether it’s the first time you’re buying a property or the seventh: deciding to go through the process of getting your hands on the keys to a new home will always be a big decision.
While buying a property isn’t a lifelong commitment (you can always sell it), you should assume that you’ll be living with the decision for at least a few years, and your life will be a lot easier if you’re happy with the decision you made. Around 10% of UK homeowners regret their decision, but they might not have if they’d read this blog before undertaking the process. We’ve put together a few important things to keep in mind before buying a property, which should ensure that you end up with a home that you absolutely love.
Are You Ready?
You can ignore this one if you already own a property, but if you don’t, then it’s arguably the most important consideration to keep in mind. While you won’t be locked into your home forever, buying a property is still a huge commitment, not just financially, but also mentally. You’re essentially agreeing to stay in one place and one lifestyle for a few hours, and if you have any doubts about your capacity to commit to that, then it’ll be worthwhile reconsidering whether it’s right for you. Some people buy a property simply because they believe that they should, but that’s an incorrect way to think. You should only buy a property if it makes sense for you, not because everyone else is doing it.
The Location
The style, quality, and ambience of the property itself are what count the most. But it’s also important to keep in mind that where the home is located counts for nearly just as much. You might love a property, but if you hate the location and can’t see yourself ever enjoying living there, then that’ll be a clear sign that the property isn’t right for you. On the other end of the spectrum, you might be content with buying a less-than-perfect property if it’s located in an area that you love. In any case, the bottom line is that you’ll need to take a close look at the surrounding area, because that place will become your community should you decide to buy.
New v Old Homes
It’s not just the location and style of the property that will impact your experience of living in the house you buy. The age of the property will, too. Old homes can have a lot of charm and character, but they tend to come with a host of issues that not only impact the homeownership experience but how much things cost. It’s a lot more expensive to heat an old, draughty home, while they usually require a lot of ongoing repairs, too. In contrast, new homes are typically energy-efficient and ready to move in too. You don’t necessarily need to reject a property that you love just because it’s old, but it is important to keep in mind that you might get more than you bargained for.
Practical Matters
You’ll buy a property because of what it offers you, but it’s also important to think about how it’ll impact other aspects of your life. A dream house could quickly turn into a nightmare if it meant that you had a much longer commute than you currently do. As well as figuring out how much time it’ll take you to get to work, it’s wise to look at its proximity to good schools. Even if you’re not planning to have children any time soon, being close to good schools will ensure that the property valuation moves in the right direction, which you’ll be thankful for should you ever decide to sell.
Understanding the Total Cost
The price of the property itself will be the most important consideration. You’ll need to know that you can comfortably make the monthly mortgage payments. But it’s also important to consider all the additional costs that you’ll need to pay both during the buying process and the immediate months afterwards. A property might have a great price, but it might not be appropriate for your needs if it requires significant — and expensive — repairs before it’s in liveable condition. You’ll also likely need to factor in legal fees, the cost of a house survey, moving costs, and so forth.
Future Plans
As we’ve said, you won’t be locked into your property forever, but you’ll be there for at least a few hours. And in truth, given how much effort moving property requires, you’ll likely find that it’s better to plan for at least a decade. So when you’re assessing the suitability of a property, make sure that it aligns with any future plans that you might have. Are you planning to have kids? Are you planning to move to a remote working position? Whatever it is, make sure that the property you’re planning to buy can accommodate those plans.
The Local Market
An understanding of the local market won’t just help you to find properties that meet your needs. It’ll also ensure that you don’t overpay for the property. Unless you’re buying a new home, it’ll be best to work with a real estate agent. Even if you’ve grown up in a place where you’re planning to buy a property, that doesn’t mean that you’ll have the expertise required to make an informed decision. A local real estate will.
If It’s the Right Time to Buy
Finally, you can make the process of getting your hands on the keys to a property more straightforward by buying at the right time. By that, we don’t just mean buying when property prices are lowest (though that can help!), but buying when you’re in a good position to buy. Buying a house is stressful regardless of the situation, but it’ll be even more stressful if you’re looking after a newborn baby, have a lot of work stress, or are dealing with health issues. If possible, start from a position of strength.
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© Copyright 2025 Antonia, All rights Reserved. Written For: Tidylife
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