Who likes shopping? We certainly do! And shopping for a new house has got to be one of the most exciting and rewarding purchasing expeditions that can be had. But with all the enjoyment can come a lot of confusion and stress if you aren’t prepared or organised. Let us point you in the right direction to get you started on your journey.
Define your budget
Consult a financial expert to help you best determine how much finance you can realistically be approved for. It’s great to have a 20 per cent deposit saved up to contribute to your new home, but there are plenty of financial institutions that can help you if you’re not quite there. Refrain from preemptively approving your own finances. You’ll run the risk of either overestimating or understating your buying power. Always speak to a professional first, and make sure you shop around for lending comparisons.
“Knowing your budget is important. It will keep you on track, and stop you from considering and falling in love with homes that are out of your financial reach.”
Determine your needs
Think about what you need from your new home. Do you need a home office or workshop? A nursery? A place to store large equipment? It’s important to think not only about the look and feel of your home, but the functionality that is needed to meet your everyday needs. That means now, and in the near future. If there are any big changes on the horizon, consider them and how you may need to work them into your house plan now. With your list of needs should also come a list of wants. Think about the luxuries you want as well. Perhaps a home theatre or outdoor entertaining room?
Your needs and wants should also help you narrow down your location parameters. It might be nice to live near the beach or the city. But it’s important to consider suburbs based on their proximity to the facilities and infrastructure that matter most to you. It’s always a bonus to be close to public transport and shopping centres. If growing or starting a family is on the cards, think about where you’d like to enrol them in school.
New homes give buyers the opportunity to customise everything from the colours and carpets, to the tiles and fixtures. That’s why so many new homebuyers decide to build new. Understanding your budget and needs is a great start to launch you into the bigger shopping process; choosing your home. Stay tuned for part 2 with more advice on shopping for your new home.