Deciding on a New Home - Top 5 Considerations

Deciding on a New Home - Top 5 Considerations

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    2019/05/24

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If you’ve decided to move house, you’re probably about to make the biggest purchase in your life. With so much money involved, it’s necessary that you find the right home for you and your loved ones. Also, the better choice you make, the more you’ll enjoy spending time in your new house. But with the number of houses currently available in Australia, finding the right home can take a lot of time and effort. But how exactly do you decide on a new home? Here are top five considerations that can help.

Purchase price

As mentioned above, buying a house requires a lot of money and informing about home loan guidelines is a must in this process. With that said, it’s obvious that you have to do everything you can to ensure you don’t overspend. Figure out how much money you have and take a closer look at what that amount can fetch you. When some extra money is needed, applying for a contract for deed type of home financing can help. Just bear in mind that it doesn’t all end with the purchase price. In most cases, you need to spend more in order to prepare your new house for the moving day. Plus, there are always some unexpected costs arising, and having some money left on the side is recommended.

Number of bedrooms

Each family has an idea of how many bedrooms they need. Depending on the size of your family, you’ll need more space and additional bedrooms. If your children are sharing a bedroom now, think about whether they’ll want to do it in a few years. In case the answer is no, investing in a bigger house is a more favorable solution than having to move again. This is also the right time to think about whether you plan to extend your family in the future and decide whether additional bedrooms will be needed. An extra bedroom that doubles as an office or a home gym is something you can never go wrong with.

Location and livability

What every buyer looks for in a home is a place where they can live in the proximity of schools, hospitals, shopping centres and other amenities. This means that the location of your new home is one of the most important things to consider when deciding whether a house is right for you or not. Try to narrow down the locations you’re interested in and only look at the houses available in those areas. Some suburbs in Sydney are growing at a rapid pace and opting for one of them is a great idea. The best thing about it is that there’s a range of house and land packages in Sydney you can opt for.

Utility costs

Many homebuyers overlook some critical expenses when buying a house, such as electric, water, gas and other utilities. However, when moving to a larger house or a house in a different location, these expenses be a lot higher. This is why you need to take utility costs into account before you make any final decisions regarding your new home. Calculate how much you’ll have to spend on utilities and see how it fits your budget. To do this, you might need to hire a local home inspector who can assess all the systems and materials that affect energy usage. This includes everything from air conditioners to attic insulation.

Age of the house

In case you’re only looking at new constructions, you may find this irrelevant. However, if you plan to look at all houses available, you’ll be inspecting houses built in different decades. You’ll be checking out old houses that need some repair and newer homes that still don’t look outdated. No matter which of these you prefer, it’s a good idea to learn more about some of the biggest differences between homes built in different years, since building codes change over time. Your realtor should be able to help but doing some research on your own can’t hurt.

Final thoughts

Everyone deserves to live in their dream home. However, finding the home of your dreams isn’t as easy as some would have you believe. Have these five considerations in mind and identifying the right home for you and your loved ones will be a lot easier.

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