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Top tips for finding your dream home

 

When it comes to finding your dream home, there are many things that you can do which will improve your chances of living in the home of your dreams. Here are some top tips for finding a home that you want to stay in.

Consider your objectives

It is always important to work out your objectives when looking to find your dream home and you should consider:

  • How much space do you need?
  • Do you need specialist access or functional elements in the home?
  • What do you need from the local area and community?
  • What impact will one area have on your travel time, commuting costs etc?
  • What is your budget? (To buy a home and to live month to month)

These are all key questions that you need to have an answer for when looking to find your dream home because it will help set the parameters of what you need from your dream home.

In addition to the practical aspects you need for your home, what style of house would you prefer and do you want/need a spacious garden or even a garage?

What are the current market trends?

Is there a trend in the market that suggests you should buy quickly or are you able to take your time in finding the property that is right for you? Depending on where you want to stay, it may be that you need to act swiftly, which means you should be prepared to take action and move at short notice, or is there a lot to be said for taking your time and seeing how the market develops.

Determine what you can afford and focus on your finances

Your ability to buy your dream home depends on your finances, so it is important to have this aspect taken care of as quickly as possible. If you are able to save, or have been saving, money, you will improve your chances of getting a good mortgage because the higher your deposit, the more attractive mortgage offer you will receive. There are a number of government backed schemes to assist first time buyers so look to see if there is any support on offer to you.

It is often best to meet with an independent finance or mortgage advisor to work out what you can afford and what sort of mortgage would be best for your needs. Key aspects to consider when looking for a mortgage include:

  • What deposit can you provide?
  • How much can you afford to pay each month while giving yourself some leeway?
  • What sort of mortgage is best for you – fixed rate or variable rate?

The mortgage is absolutely crucial and while no one can predict what will happen in the future, you need to find a mortgage that you think will be suitable for you now and in years to come.

Other aspects to think of with respect to your dream home include:

  • Are there are any projects or developments that could impact on your property in the future?
  • What aspects must you have and what aspects are you willing to compromise on?

Are there any long term maintenance and upkeep costs associated with the property you need to consider?

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