Real Estate

4 tips to help you find the home of your dreams

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If you are in the process of looking for a new home, you are probably already aware of how confusing the whole thing can be. Buying property is a big financial decision that could cost you a lot of money and loads of stress if you get it wrong, so it’s a good idea to take your time over it. 

Here are 4 tips to help you find the home of your dreams. 

Set a realistic budget

There is absolutely no point in viewing a property until you have a good idea of how much you can afford. Speak to a mortgage broker to find out how much you can borrow, then calculate how much you should be able to spend after taking any equity and savings into account. 

You need to account for legal fees and outlays as well as any local tax or stamp duty that may be payable, although many lenders will allow you to add those to the amount you borrow. It’s also a good idea to have a contingency fund put aside, just in case anything crops up that you hadn’t accounted for. 

Narrow down you search radius

Narrowing down your search will help you find your ideal property. Make a list of the areas you would be happy to live in and focus on those. Regardless of where you live, there should be property portals you can visit and filter your search criteria so you can view homes that are best suited to your requirements. 

So, whether you are looking for downtown Toronto real estate or property in the suburbs of Perth, a filtered internet search should help you find your dream home.

Is it likely to need lots of maintenance?

When searching for the property of your dreams, you need to establish how much work it may need and how much you can realistically undertake. Falling in love with a period home is one thing, but maintaining it might be another. As beautiful as they may be, many homes can become nothing more than a money pit, so don’t lose sight of that during your search. 

Newer property may not have as much character, but if DIY isn’t your thing or you don’t have the budget to carry out repairs regularly, it may be a more suitable option.

Word of mouth

If you have been trying to find your dream home for some time, but your search has proved fruitless, it may be time to adopt new methods to find it. Word of mouth may not be the most traditional approach, but you never know where it might lead. Let friends and family know the location you are interested in, as well as your budget, and have them ask around. 

People often consider moving but don’t want the hassle and upheaval of marketing and carrying out regular viewings. Private sales may not be the norm, but they can and do happen, so it’s another avenue to explore.

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