A successful property search requires focus and direction. The 3 key components are Budget, Space and Location.
Before you start looking, you need to know what you can afford, your house requirements and where you want to live.
Here are Protheroe Property’s 5 Steps to a Successful House Search;
1. Establish your budget
Before you do anything else, speak to a mortgage adviser. They will give you an idea of what your budget might be for the property purchase. This will largely depend on 4 things;
- Your salary (salaries if you are buying with someone else).
- Your monthly outgoings.
- The size of the deposit you are putting down.
- Any outstanding debt you have.
2. Make a wish list
Now you know what you can afford, make a list of what you want from the property. Think about the style of home you want, how many bedrooms, kitchen size, location, garden etc. When you have completed your list, give each requirement a score out of 10 for importance. Remember, be realistic about what you can get for your budget. It's likely you'll have to compromise on something down the line.
3. Use free tools and information online
Use the information provided on online portals to research local property values, sold prices and area statistics such as average price per square foot in the locations you’re interested in. is what you are looking for available in your desired area?
4. Contact some local agents (“ahem”)
Useful as they are, online portals are just a starting point. They can't replace the value of speaking to an expert who has hands on knowledge of the current local property market. Discuss your requirements with local estate agents – good ones (like us) will be helpful.
5. Narrow down your search
Viewings will teach you more about what you want, don’t want, and what you can and can’t afford. Use each viewing as a means of refining your criteria and potential compromises so that you can be more precise in what you are looking for and where.
And finally, always listen to your heart – just don’t let it take over.