Hunting for a new home?

Whether you’re upgrading, downsizing or simply relocating, there are a few things to look out for.

29 Jan 2019 | Home finance & property | Share:
Hunting for a new home?

Buying a home can be an exciting time, but it’s important to understand what you’re getting yourself into before making any commitments.

Here are some tips on what to watch out for when buying your next new home.

Be clear on your goals

Before you start your search, it’s worth giving some thought to your long-term property goals.

If you’re buying with the plan to sell in a few years, certain features like big kitchens and plenty of storage space could help you attract a wider group of buyers.

Or, if you’re planning to stay for many years to come, be sure to choose a home you will be comfortable in and meets your current and future living requirements.

Pay attention to the structure

Once you find a property that appears to suit your needs, find out as much information about it as possible.

The best way to do this is to arrange for an qualified third party to complete a building inspection.

Be mindful of any significant structural issues or building defects such as rising damp roof issues or cracks in the walls, to ensure you avoid extra costs down the track.

Consider the growth potential

As with any major purchase, it’s a good idea to think about the growth potential and consider opportunities to increase the property’s value.

Think about the area and the amenities nearby, demand for housing, market conditions, and the sale prices of comparable homes.

Other resources such as a free property report customised to your local area may also be available from a variety of sources.

A Liberty Adviser can also guide you through the home buying process and help you to find a financial solution that suits your borrowing needs.