Things to consider when buying a house

Things to consider when buying a house

There are several critical things to consider when buying a house.

These range from affordability – can you really leverage the mortgage? What kind of deal have you got? What happens if interest rates rise etc., to other factors such as the cost of upkeep and maintenance and any renovations, or have you adequately thought through what amenities are in the area and how it affects you (such as good schools if you have children).  So what are the main things to consider when buying a house?

Did you hear about the person who was approaching retirement and thought they’d downsize, had an amazing offer accepted on a great property and was delighted but failed to think about their deteriorating health and the fact the house was on a hill meant, eventually, they had to upsticks and move again anyway!

It pays to think ahead.

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Think about how you live now and how you are likely to be living in five years’ time. For example, if you have teenage children, what’s the point of moving to another large house, in a few years time they will be away at college or living with a partner or at least, hopefully, have got a job and will want to live in their own flat. You will probably then want to downsize, not upsize with all the associated costs of cleaning and maintenance, not to mention how tiring it will be to still be doing all that cleaning.

So, let’s say you’ve thought that through adequately, then let’s analyse the house/property itself.

Externally, how is its location? Is it near to the amenities you need; do you like the area and what will your day-to-day life be like living in that house. There’s no point picking the ideal house only to find the reality is that your husband is out at work all day and you are scared and lonely living down an isolated dirt track, even if he’s got acres of land to ride his lawnmower around!

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Internally, are there enough rooms; are they functional? Do you like sleeping upstairs and do you mind sleeping downstairs? If you don’t feel comfortable sleeping downstairs, there’s no point in looking at bungalows or some conversions which have double-height vaulted ceilings, such as stables or barn conversions or old school houses.

Do you like open plan living or do you like the idea of a more traditional house?  Are there any Covenants or other restrictions or Rights of Way across the property? is it a listed property? All these factors will affect the price of the property, the Regulations should you wish to make adaptations and will certainly affect the way you live in the property on a day-to-day basis.

What are the other things to consider when buying a house?  Depending on how much you like the overall look and feel of the property, you may not mind that you have to do a considerable amount of work on the property to make it your own but do go in with your eyes wide open. Some romantic notion of replacing floors, knocking out walls, replacing the kitchen and installing an extension, may sound grand but unless you are prepared to do a room at a time, live elsewhere or live in a caravan on the site, or have very deep pockets, it may not be a practical solution. Quality of life should be the most important factor, particularly if you have a family. On the other hand if you are single or have another home, and this is an investment purchase, then that is a different matter.

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Other factors you should take into consideration when buying a property include: when was the boiler last replaced; has the property been rewired; what is the state of the internal decor, does it need new carpets? Is the wooden flooring any good underneath? In some houses, you can pull back the carpet to reveal spectacular parquet flooring which is worth thousands and well worth restoring. Is there double glazing? Will you need to replace the kitchen or bathrooms?

Take a long, hard look at the property you are planning to buy and be ruthless, you will be living in it for quite some time and it’s important to make sure it will suit and that you’ve got the budget to match.We hope you liked our blog “things to consider when buying a house”.  If you would welcome any advice and guidance, for a free, no obligation chat, talk to Zevizo Properties, online estate agents of repute with many years’ experience of buying and selling properties. We know what we are on about and can pass on all that valuable experience to you.