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8 Things to Consider When Buying a New Home

8 Things to Consider When Buying a New Home

Buying a new home is one of the most daunting experiences; yet it is one of the biggest milestones in life. It is easy to feel overwhelmed by this huge life decision and substantial financial investment. It is a significant commitment and requires careful planning and cautious choices. Planning is vital to the process, and while it will help you set your boundaries, it will also show you where you need to be flexible as you wade through the market.

Once you have made up your mind about the boxes that a potential property needs to tick, you can determine on which matters you are willing to be more flexible, and narrow down your options. If you do your homework, you can avoid the pitfalls and empower yourself for a successful and prosperous purchase.

1. Price

Your new property is going to have to fit into your budget. This is probably the most important thing to consider when buying a new home. How much are you willing and able to spend? What is your absolute ceiling?

Don’t waste your time looking at properties that you can’t afford because realistically you won’t be able to compete with other buyers and will leave yourself short, considering all the other expenses you need to cover including lawyers and realtors’ fees, repayments, rates, strata, living expenses, bills, and ongoing costs. You need to take into consideration if you will have funds leftover for possible renovations, furnishings and other improvements.

You also need to factor in the cost of moving including movers, packing, and cleaning, storage, redirecting mail and rubbish removal. If you are borrowing from a lending institution, you need to make sure you are covered if interest rates increase unexpectedly.

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2. Location

You need to decide where you want to live. It sounds easy enough, but there are a number of things to consider. You may want to ensure that you live close to where you work, where your children will go to school, where your family and friends reside, and where you go for shopping and leisure.

You may not decide to live in the same suburb as these needs, but then you should consider your travel and commuting to places that your life revolves around. Location is extremely important, as it will determine your quality of life for possibly years to come. You should consider if the area is familiar to you or if you will embark on a whole new lifestyle. When looking at properties in the area of your choice, consider the neighborhood carefully. You may want to introduce yourself to the neighbors or just observe the comings and goings of the street.

Think about the property’s proximity to main roads and be aware of the flow of traffic. Take stock of the surrounding area and the possibility of noise and activity. Are there stadiums or public arenas nearby? Or perhaps busy pubs and clubs? Is public transport readily available and is the town under any flight paths?

You may be looking for a vibrant and fast-paced environment or a quiet and secluded lifestyle. Whatever your preference, make sure that the dwellings you look at meet your needs.

3. Size

When buying a new home, you need to think about the size of the dwelling you require. How many bedrooms are you after? Do you need a big kitchen and bathroom(s)? What about living areas? Are you the kind of person who likes to entertain, or do you prefer to eat out?

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Do you need a yard or balcony and are you prepared to put in the maintenance required should you have a large outdoor space? Are you considering a swimming pool or perhaps you require storage and a garage? Is there room to renovate and do you need approval?

You may look for a dwelling that has the potential for a granny flat, extra bedrooms or living areas and can you expand the kitchen or bathrooms later on? These are all very important questions and rely on you having the capacity to think a little bit ahead.

A new property needn’t have everything you need immediately if you can see potential to invest in expanding it later on, and the property can accommodate that. The size of a dwelling also largely depends on how many people are going to reside there.

Are you single? A couple? Do you have children or pets? Will you want to accommodate extended family or friends? Do you want the potential to house boarders and earn an income? Do you need room for many belongings or are you a minimalist?

4. Upsizing or downsizing

Buying a new home often means you are needing more or less space. Whether you are moving in order to expand or to reduce your living space, you need to consider if you have to get rid of things or buy more. Both scenarios require planning and foresight in order to make the transition as seamless and stress free as possible. Are you living with more people, expanding your family, or will you need room for guests? Or are you going it alone?

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5. Timing

Timing is everything when you are buying a new home. You need to figure out how much time you have to complete the process and whether or not you are on a time restriction or not. You may be selling and buying simultaneously or ending a lease, in which case you need to ensure that exchanging the keys for both your old and new home happen around the same time.

Financially when you are buying and selling at the same time, you need to consider whether or not you need a bridging loan, which will cover you if you purchase a new dwelling and need more time to sell the old property. It’s all a negotiation between yourself and the other parties involved and communication is imperative. Reading the fine print of any agreement or contract is also vital and it’s helpful to have excellent and experienced legal representation to assist and advise you.

6. Viewing

One of the most tiresome activities that you must endure when buying a new home is going along to open houses to view properties that are for sale. However it doesn’t have to be something you suffer through. It can actually be pretty exciting and enjoyable. You have to narrow down the properties that fit the majority of your requirements and remind yourself that it is impossible to see everything.

If there are clashes with scheduled viewings of properties that you are keen to see, you just need to prioritize and see the most suitable first. Properties will often be open for viewing on more than one occasion so it isn’t too difficult to see all the dwellings you are keen on.

You also have the option to arrange a private viewing at a time that is more suitable to you, and most selling agents are very accommodating. They want more people to see the property to increase the likelihood of it selling at a good price. They want you there and are more than happy to stay a little later or meet you at a different time.

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If you are buying a property off the plan or you plan on building, you need to be careful about what you imagine a property will look like once it is finished and the reality. The positive side is that you can carefully tailor a dwelling to your requirements and correct or change things as you go.

The negative is that sometimes the end result isn’t exactly as you envisaged and changes will incur further costs. It really depends on you having a strong relationship with your architects and engineers, particularly if the dwelling is free-standing.

You may have less control and input if the place is a part of a larger complex, like in the case of a unit or town house. You will need to ensure you or your legal representatives are in good communication with the builders and developers.

7. Purpose

The purpose of your purchase will determine many of your decisions. Will you be an owner occupier? Are you flipping it—buying something you will renovate and improve in order to sell it on for a profit? Will you purchase the property and then lease it out? Whatever your purpose, the type and condition of the dwelling you buy and how much work you are prepared to do to improve it will only be successful if you keep your intentions in mind and buy accordingly.

8. Permanency

Is it a forever home or a transitional one? If you are looking for a home you will commit to for years to come, the process may take longer to find the perfect fit. After all, it is not a decision to be taken lightly and you may have to face a few let downs and disappointments until all your conditions are met. If it is a temporary arrangement or an investment, you may have room for more flexibility and may be looking at something that is good enough as opposed to perfect.

Featured photo credit: Jennifer C. via flickr.com

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Diane Koopman

Writer, Author, Novelist, Self-Publisher

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Last Updated on November 11, 2019

How to Improve Memory and Boost Your Brainpower

How to Improve Memory and Boost Your Brainpower

Have you ever noticed that some people are able to effortlessly remember even the most mundane details and quickly comprehend new things? Well, you can too!

To unlock the full potential of your brain, you need to keep it active and acute. Wasting time on your couch watching mindless television shows or scrolling through facebook is not going to help.

Besides getting out flashcards, what can you do to help remember things better and learn new things more quickly? Check out these 10 effective ways on how to improve memory:

1. Exercise and Get Your Body Moving

Exercising doesn’t just exercise the body, it also helps to exercise your brain. Obesity and the myriad of diseases that eventually set in as a result of being overweight can cause serious harm to the brain.

Furthermore, without regular exercise, plaque starts to build up in your arteries, and your blood vessels begin to lose the ability to effectively pump blood. Plaque buildup leads to heart attacks and it also reduces the amount of oxygen and nutrients that your blood carries to your brain. When the nutrients don’t make it there, the brain’s ability to function is compromised.

To prevent this from happening, make sure you get moving every day. Even if it’s just a brisk walk, it’ll help you maintain and increase your mental acuity. Brisk walking, swimming and dancing are all excellent activities. Take a look at these 5 Ways to Find Time for Exercise.

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2. Eliminate Stressors and Seek Help If You’re Depressed

Anything that causes you major stress, like anger or anxiety, will in time begin to eat away the parts of your brain that are responsible for memory. Amongst the most brain-damaging stressors is depression, which is actually often misdiagnosed a a memory problem since one of its primary symptoms is the inability to concentrate.

If you can’t concentrate, then you might feel like you are constantly forgetting things. Depression increases the levels of cortisol in your bloodstream which elevates the cortisol levels in the brain. Doctors have found that increased cortisol diminishes certain areas of the brain, especially the hippocampus which is where short-term memories are stored.

Prolonged depression can thus destroy your brain’s ability to remember anything new. Seek professional help to combat your depression – your brain will thank you.

3. Get a Good Night’s Sleep and Take Naps

Getting a consistent 7 to 8 hours of sleep each night will increase your memory. During sleep, the brain firms up memories of recently acquired information.

Getting enough sleep will help you get through the full spectrum of nocturnal cycles that are essential to optimal brain and body functioning during the waking hours. Taking a nap throughout the day, especially after learning something new, can also help you to retain those memories as well as recharge your brain and keep it sharper longer.

4. Feed Your Brain

Fifty to sixty percent of the brain’s overall weight is pure fat, which is used to insulate its billions of nerve cells. The better insulated a cell is, the faster it can send messages and the quicker you will be thinking.

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This is precisely why parents are advised to feed their young children whole milk and to restrict dieting – their brains’ need fat to grow and work properly. Skimping on fats can be devastating even to the adult brain.

Thus, eating foods that contain a healthy mix of fats is vital for long-term memory. Some excellent food choices include fish (especially anchovies, mackerel and wild salmon) and dark leafy green vegetables. Here’re more brain food choices: 12 Foods that Can Improve Your Brain Power

Deep-fried foods obviously contain fat but their lack of nutritional value is not going to help your brain or your body, so think healthy foods and fats.

5. Eat Breakfast and Make Sure It Includes an Egg

According to Larry McCleary, M.D., author of  The Brain Trust Program, an egg is the ideal breakfast. Eggs contain B vitamins which help nerve cells to burn glucose, antioxidants that protect neurons against damage; and omega-3 fatty acids that keep nerve cells firing at optimal speed.

Other foods to add to your breakfast include fruits, veggies and lean proteins. Avoid trans fats and high fructose corn syrup. Trans fats diminish the brain cells’ ability to communicate with each other and HFCS can actually shrink the brain by damaging cells.

Having a healthy breakfast in the morning has been shown to improve performance throughout the day. If you’re too busy to have a healthy breakfast, this maybe just right for you: 33 Quick And Healthy Breakfasts For Busy Mornings

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6. Write it Down

If there’s something you want to remember, writing it down can help.

It may sound like a no-brainer, but do you really know why? Writing it down creates oxygenated blood flow to areas of your brain that a responsible for your memories and literally exercises those parts of it. Here’s How Writing Things Down Can Change Your Life.

You can start a journal, write yourself emails or even start keeping a blog – all of these activities will help to improve your capacity to remember and memorize information.

7. Listen to Music

Research shows that certain types of music are very helpful in recalling memories. Information that is learned while listening to a particular song or collection can often be recalled by thinking of the song or “playing” it mentally. Songs and music can serve as cues for pulling up particular memories.

8. Visual Concepts

In order to remember things, many people need to visualize the information they are studying.

Pay attention to photographers, charts and other graphics that might appear in your textbook; or if you’re not studying a book, try to pull up a mental image of what it is you are trying to remember. It might also help to draw your own charts or figures, or utilize colors and highlighters to group related ideas in your notes.

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Here, you can learn How to Become a Person Who Can Visualize Results.

9. Teach Someone Else

Reading material out loud has been shown to significantly improve memory of the material. Expanding further upon this idea is the fact that psychologists and educators have found that by having students teach new concepts to others, it helps to enhance understanding and recall.

Teach new concepts and information to a friend or study partner, and you’ll find you remember the information a lot better.

10. Do Crossword Puzzles, Read or Play Cards

Studies have shown that doing crossword puzzles, read or play cards on a daily basis not only keep your brain active but also help to delay memory loss, especially in those who develop dementia.

So pick up the daily newspaper and work on that crossword puzzle, read a book or enjoy a game of solitaire.

Pick one to two of these tips first and start applying them to your everyday life. Very soon you’ll find yourself having better memories and a clearer head!

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Featured photo credit: Pexels via pexels.com

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