5 Things To Consider When Buying A House

by - 11 November

*This is a paid post.
 
You might be starting to look at buying a house, already in the process or even just saving but whatever stage you are at, hopefully, this post will help you in that process, as today we are looking at 5 things to consider when buying a house.

 Covid-19 Changes


For starters, with the current pandemic going on, a lot of things have changed when it comes to buying a house. At the moment you can still view houses you may want to buy but you are advised to only view them in person if you are really serious about buying it. A lot of estate agents are offering virtual house viewings though so you can definitely see the house before you book a real visit.
 
Another change that has happened is that the government have cut the stamp duty. This means you will be saving up to £15,000 in tax if you move before April 2021, so it is a great time to actually look at buying a house. It also seems house prices are going up so if you have one to sell too, that's even better! 
 
Covid has also changed what people are looking for when buying houses. With working from home being so huge this year, this has meant people are looking for houses with more space and extra rooms so they can create their own home offices. For the last few months people were also looking at houses with bigger gardens so they could get outside while in lockdown. 

Now that the covid stuff is out of the way, that leads me into the next part of this post: your budget!
 

 Your Budget

 
This is probably the most important thing to consider when buying a house as to how high your budget is will affect what you can afford, the higher the budget, the more options you have.
 
 If you have a lower budget, don't just buy the cheapest house you can find as you might come to move in and find out it needs a ton of work doing which will cost even more money. You need to account for those hidden/extra costs so make sure you aren't buying a house at the very top of your budget if you won't have anything left over afterwards. You want some money left so that you can do the house up to fit your own wants and needs and fix anything that might need doing. 
 

Getting A Mortgage

 
I'd say this is the hardest part of things to think about when buying a house. There are so many different mortgages available and you need to make sure you do a lot of research to try and understand what all the jargon means. At the moment because of covid, there are a lot fewer mortgages available out there which means you might want to consider if you can definitely afford a house right now or if you need to save for a little bit longer.
 
Buyers who want the lowest deposits at 5 and 10% have been hit the hardest with deals being withdrawn so you may have to think about having a higher deposit to secure a good mortgage. You should go onto numerous mortgage providers to search for the best deal and compare what is available. You can also use a mortgage calculator which will show you how much you would be paying along with other information about various types of mortgages too. You can check bank opening times to find out when your local bank is open as they will be able to help you out with information regarding mortgages. 
 
 

The Area

 
The area, while not as important as some of the other things, is still something to consider when buying a house. For example, you could be working in London but with house prices so high there, you might want to consider moving a bit further out of the city and commute to work to save yourself some money. 
 
Another big thing to think about when it comes to the area is whether you want to live in a city or out in the countryside. You have to consider what needs you have from a local area, such as: what shops you have available nearby, whether there is any public transport, how many other people will be living near you as well as how easy it is to get to and from work.
 
Different areas cost different amounts so if you aren't set on one specific area, definitely do some research and have a look around at some other areas you might not have considered before. You never know, you might be pleasantly surprised!   
 

 The House Itself


Last but certainly not least, is the house itself! There is no point in buying a house if you don't even like what you are buying. You need to think about how many rooms you want and how much space you need. Don't be too set on what specific rooms you see in certain houses though as you can consider knocking down walls to create bigger rooms or even eventually building an extension, if you have the land and space to do so. There is so much opportunity with houses and only you will know exactly what you want to make it your dream home.

Are there any other things to consider when buying a house? Let me know in the comments below and while you are here why not check out more of my home content?

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1 comments

  1. There are so many things to consider when buying a house! I can't wait to be a home owner and I'll be remembering the bits of advice you've given here! x

    Lucy | www.lucymary.co.uk

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