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May
08

A comprehensive guide to buying a new home

Are you in the market to buy a new home? Whether you’re a first-time buyer or a seasoned real estate investor, it’s important to know what to look out for when making a purchase. With so many factors to consider, it can be difficult to know where to start! So in this guide, we’ll cover everything you need to know to make the most informed decision.

📍 Location

Location is one of the most important things to consider when investing in property. Think about proximity to transport and amenities, as well as anything else that’s important to you. Other things to consider are noise levels and crime rates in the area. Finally, it’s good to look into future development plans for the area, just to ensure you’re making a wise investment.

⚒ Build quality

When inspecting a property, it’s important to get a feel for the overall build quality. Pay attention to signs of wear and tear, water damage, and any other issues that could cost a pretty penny to fix. You might even want to get the property professionally assessed by a building inspector. Although doing so may cost you more upfront, it could save you a lot of money and headaches in the long term.

💡 Electrical and plumbing

It’s important to check the electrical and plumbing systems of a property before purchase, as both are essential to the smooth functionality of any home. Keep an eye out for signs of old or damaged wiring, leaky pipes, and any other issues that might cost a lot to repair. You might also want to check the water pressure and electrical outlets, just to make sure they meet your needs.

☀ Light and ventilation

Natural light and ventilation can have a major impact on your quality of life in a new home. It’s always good to look out for properties that have large windows and good airflow, as both will help make your living environment more comfortable. Also worth considering is the direction in which the property is facing, to ensure you’re getting the most sunlight possible.

⚡ Energy efficiency

Energy-efficient properties have skyrocketed to the top of homebuyers’ wish lists in recent years, owing to their reduced environmental impact and lower costs on utility bills. Focus on properties that have energy-efficient appliances, heating, and cooling systems, as well as quality insulation. Looking for an energy-efficient property? Try our Green Property Exchange[AG1] programme.

💰 Resale value

You might be in buying mode right now, but it’s always important to consider how much a property is likely to fetch if you do decide to sell it. Keep an eye out for properties in prime locations, with appealing amenities for would-be owners. Always remember, a property with good resale value can be a wise investment, and provide a lucrative return.

Buying a new home is a big decision, so it’s important to do your research before jumping in. By considering all the factors touched on above, as well as any others that may be unique to you, you should be able to make the most informed decision.