My husband and I have been married for 5 years now. I’ve always wanted to own a house of my own, my husband is more of a free spirit, however he agrees we’re not getting any younger especially as our first child will soon be 5 and starting school soon – so we need to start putting down roots and a house is definitely one of them.
Owning a house is by no means a straight forward thing to do but it’s a dream for many. Here are 7 questions to consider before buying your first home.
1. Have you done your research?
I spend a lot of time looking at houses for sale in my area – I thought that was all the research I needed to do. However, after some random reading I realised there is a lot more to researching property prices, schools and towns on websites like Zoopla. You have to think about the mortgage rates, credit score, etc
2. Are you ready for the commitment?
Buying a house is a huge commitment, having lived in rented accommodation for the last 5 years I know this now. There are so many little things one takes for granted, sorting out broken appliances, buying appliances, re-decorating, taking care of the garden, just to name a few. There is pride in knowing it’s mostly yours but it’s also a big commitment which cannot be taken lightly.
3. Do you plan on having a ‘large family’?
It might seem like a strange question but this often time determines whether a 1 bedroom or a 3-bedroom house is best. If you’re a couple and looking to have kids in the near future then I’d suggest considering 2 – 3 bedroom houses, within budget of course. Seeing as we already have 2 kids we’re definitely working towards a 3 bedroom to start with
4. Do you love your current job?
I thought I loved my previous job but when an opportunity came to move I took it without looking back! If we had bought a house while at my previous job it would have been a nightmare switching jobs especially as the new job was over 100 miles always. Maybe we won’t have moved at all.
5. Do you love being around family/friends?
If you’re like me, you probably have family/friends located in a particular region. I’ve found that having family and friends around is a lovely feeling, knowing you’re not alone and that the kids can go visit their cousins is great. This is one of the reasons why we decided to move and it is something to definitely consider when one wants to plant their roots.
6. Do you know how much it will really cost?
I thought buying a house mainly involved getting the mortgage based on the price of the house and then I started doing my research and found out there was something called stamp duty, then I heard about conveyancing and realised I’d have to pay solicitors’ fee, then get house surveys done which I had honestly never heard about! The prices just continue to add up! It’s definitely pays to do your research way ahead of time – I’ve found Reallymoving to be good for local solicitors fees and surveys.
7. Do you have the money?
This is the biggest question of all and will determine the final decision to move or not! We’ve been saving and still are limited, especially with the move down south – this means our deposit is going to be even bigger so we have to save even more money! This might push our plan a little bit but we’ll get there, eventually!
After answering all these questions I realised that I was ready for that big step because it is a big step, now we just need to get the right deposit to make our move. Are you ready to buy your first dream house?
Featured photo credit: Joel Bybee via flickr.com