*This post was written in collaboration with Beresfords.
(Image source: PIxabay.com)
It is always drummed into us that we need to become homeowners. This makes it quite unsurprising that it is many a young person’s life ambition to own a nice home. A lot of people will not be able to get their dream home when they are young, and for many owning their “dream home” comes along a bit later in life. But once you have outgrown your starter home, or saved up enough money, what steps do you need to take to ensure you get your dream home? How easy is it to find somewhere perfect for you, and what are the considerations you need to make before you start the mortgage process?
Set a realistic timeframe
If you are looking to buy a new home, you might think it is as easy as calling up your local Essex estate agent and telling them you want to move. But it isn’t that simple, even if you are already on the property ladder. If you are already a homeowner you may have a bit of a head start, but there is a difference between owning a home and owning a dream home/. You might need to save up a lot more to cover deposits and fees, so ensure you are realistic with your timeframe.
Find a good estate agent
This may sound like a given, but so many people just go with the first estate agent they find. The relationship between yourself and your estate agent is one of the most important things in the home buying process. Even the time I was renting I did my research, asked people for reviews, and tried to find the best estate agents in Essex. There was no way I was going to be conned into a flat that wasn’t worth the monthly rent.
If there was ever a time to be picky, now is that time. It would be a good idea to make a list of your absolute non-negotiables. Maybe location is really important to you, or maybe you drive so you are willing to be flexible on the location if the price is right. It can be a drawn-out process but it is worth it in the long run.
Get your current home valued
If you are moving up on the property ladder, it is important to know how much your current home is worth. Get your current home valued properly before you start the process of buying a new home so you know exactly how much you already have and how much more money you will need to make your dream home happen.
Speculate to accumulate
If you are looking to buy a new home, you will need to squeeze as much value as you can out of your current home. This means that dealing with those repairs you have been putting off. Although it can be costly, it will help you in the long run when you are able to get the most value out of your current property.