Checklist – Don’t Buy a House Before You’ve Done These Things

Checklist – Don’t Buy a House Before You’ve Done These Things

Are you thinking of buying a new home? Maybe you’re going from renting to buying, or you’re simply looking to upgrade your current home. You probably already know that there are 101 things you need to think about before you can do this. However, the things in this guide are ridiculously important. If you fail to tick these off your checklist before you buy a house, don’t be surprised if you run into problems later on down the line.

The Before You Buy a House Checklist

Go through this list and think about these things before you buy a house.

• Have You Figured Out What You Truly Want/Need In A Home?

The first thing you need to do is figure out what you truly want and need in a home. This means considering your lifestyle now, and how you expect it to be in the future. Don’t be dazzled by the beautiful looks of a home if realistically, it isn’t going to be practical for you. How many bedrooms and bathrooms do you need? What features are non-negotiable? What don’t you want? Make sure you outline this so that the process is easier for you and there are no crossed wires.

• Have You Found A Trustworthy Real Estate Company and Surveyor?

You need to have found a trustworthy real estate company and surveyor before you buy a home. For some reason, people still skip this even though there are horror stories out there. People have been known to buy homes that were unlivable and virtually falling apart because they couldn’t see the hidden dangers themselves. You can’t cut corners, say Allcott Associates Chartered Surveyors. If you try to cut them, you can guarantee that it will cost you more in the long run.

• Have You Figured Out What You Can Afford?

You must figure out what you can truly afford. Just because you’ve been accepted for a mortgage over ‘X’ amount doesn’t mean that it’s what you can afford. Make sure you create a financial plan and look at your finances now. Also, consider how your finances might change in the future. How much are you going to love living in your house a few months/years down the line when the payments are still sky high and the novelty has worn off?

• Have You Got Your Finances In Order?

Not only do you need to make sure you know what you can afford, your finances need to be in order. Have you looked at your credit score lately? Do you have one for an EMD? An ‘EMD’ in real estate is an earnest money deposit which is a sign of good faith you are interested in buying the property. If not, check it out and make sure everything is correct, or it could ruin your chances are obtaining something affordable. You should also have a cash cushion and a healthy savings account. They will give you peace of mind, and you’ll be more likely to get accepted for a mortgage this way. Remember, a good UK credit score is vital when purchasing a house.

• Have You Compared Prices Properly?

Make sure you’ve compared prices properly so you know how much wiggle room you have and how much you should expect to pay on certain properties. You must be comparing like with like to ensure that you have an accurate picture of how much things cost.

Have you done these things? Congratulations, it’s time to start looking for your next home! Maybe you’ll buy a house soon!

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