Buying a new house? Here’s what to look for

22 Jun, 2021

Buying a new house? Here’s what to look for

There is nothing that can replace that feeling of becoming a new homeowner. Whether it is for the first time or you are simply buying a new house to move to, it’s exciting! And if you are buying a new house, however experienced you are it is worth refreshing your memory as to what you should look for.

New homeowners

What To Look For When Buying A New House: Find Out Here

buying a new house
Nothing beats that feeling of excitement as you choose your new house

Nothing is more exciting than turning the key to your own house and being hit with a blast of that new home aroma. It’s a dream that many people turn into a reality every year. If you’re thinking about joining their number, there are some hurdles you’ll have to clear first. 

These will include having enough for at least a down payment and meeting financial requirements to qualify for a mortgage.Once you’ve crossed those, it’s time to go house shopping. Here are some things you will need to look for.

How will this new house fit your lifestyle?

Is your prospective home a comfortable distance from work? If you have children, is the home you’re thinking of in a good school district? Is it close to parks and other recreational facilities? A housebuilder like novushomes.com.au can help you work out what might fit best with your lifestyle. Sometimes those looking for a new home have trouble focusing on what’s important and it never hurts to get help.

Does the house meet your space requirements?

Do you need a large home or a small home. If you’re single and expect the occasional guest, a small home with one bathroom should work for you. If you are married and have three children, your bathroom,  bedroom and square footage requirements will be different.

Do you plan to be operating a business out of your home or working remotely as many people have been? You may need office space. Do you want a large yard to have get-togethers and barbecues on the weekend? Or would you prefer a small one because you do not have time for maintenance. Do you need a garage that holds a single car, multiple cars or will you be parking on the street.

Think about what you’ll need in terms of space because it may be difficult to expand if that becomes necessary.

Examine the home to see if it is in good condition

If you’ve ever seen the 80s movie “The Money Pit“, you’ll understand why this is so important. In the film, Tom Hanks and Shelly Long buy what they think is a good bargain, only to have the house wreck their finances, their relationship and their  lives. It’s funny in the movie, but you really don’t want that happening to you. So think carefully and prepare before taking the plunge and buying a new house. 

When you attend the house showing, look at everything, open everything, turn on everything, even if you think it will annoy the realtor or the owner. It’s your money you’re going to be spending, so make sure taps work, light switches turn on lights and do not open the garage door and flush the toilets for good measure. See that everything works before you make a commitment.

Go into the attic and basement. See if there are leaks, mold, if they are properly ventilated and the like.

When you get outside, check the condition of your porch and your facade. Make sure there is no rot, water damage or signs of insect infestation. Try to get as good a view of the roof as possible. Roof repairs can easily run tens of thousands of dollars and you don’t want to be tricked by a friendly real estate agent into buying a home with a damaged roof. Signs that things may not be on the up and up are missing, peeling, faded shingles and guttering and seals that are in visible disrepair. You need to inspect the property with care and also plan carefully if you need to borrow money to fix it up.

buying a new house
Moving to a new home is always full of hope and excitement

Get an inspection done

Even if everything looks great inside and out, exercise your buyer’s right to have a home inspection done.

This is one you may come to regret if you forego it.

An unscrupulous seller may be hiding some serious problem with the home, i.e. faulty wiring, a damaged foundation.

For a few hundred dollars, you can have a qualified home inspector visit your home and they will be able to spot these.

Compare that to the cost of having your house burn down because of an electrical fire, or collapse because of a weak foundation.

You should negotiate with the seller to have any identified faults or damage fixed.

If they are unwilling to do this, move on to the next house.

Have the house appraised

If you are taking out a mortgage, your bank will insist this is done, but if you are purchasing the house through another method, it is still a good idea.

And a final note on buying a new house

Remember that your house is one of the biggest investments you will ever make. In the event that you want to sell this house, you want to be sure you’re not paying more for it than it is worth. There are few things worse than finding out your home is overvalued when you are trying to sell and have to accept a lower price.

Searching for your new home can be the most fun part of a stressful process. With these steps, you can avoid stress after the home is bought.

 

HANDY REFERENCES ABOUT BUYING AND SELLING A HOME

At Housesitmatch.com we like to share authoritative articles on related topics to the one you have found online. Please read on to find a curated group of articles about buying and selling a home.

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LamiaW

LamiaW

Founder and Director of HouseSitMatch - I'm a hands-on Admin on the site. Please ask any questions and as soon as I can I'll happily answer and assist where I can.

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