This is a collaborative post
It was announced this week that the housing market is back in action. For those who have been toying with the idea of moving to the next family home, the coronavirus lockdown and being confined to the same four walls may have just been the thing to push them into committing to the idea!
Our properties are probably the most expensive things we will ever own. When choosing one to invest in, it’s worth getting right. With this extra time on our hands, use it wisely to plan and prepare for that next house move. Create a checklist of things to tick off your wishlist and look into before you think about committing to a property or a new area. Here’s a few things to think about and look out for…
Try living like a local
If you are considering moving to a new area and you have a particular town or village in mind, make sure you take plenty of trips there (when it’s safe to do so!) and try living like a local. Get your mind into how it would feel to actually live there and how it compares to where you are now. For instance, if you are interested in exploring new homes in Beverley (or elsewhere), visiting the area in advance can give you a real sense of daily life, helping you decide if the community, amenities, and lifestyle match your expectations. Check out the local school – does it have good Ofsted reports? Do you know any other parents with children there that you could quiz about their experience? Consider all the local amenities such as shops, transport links, restaurants and garden centres. Do you have everything you need nearby?
It’s also a good idea to take multiple trips to the area at different times of the day to see what changes. Does it get very busy during rush hour? Do the roads near the school get blocked up at drop off and pick up times? Does it still feel safe at night? These are all really important things to consider now, and not when you’ve already made the commitment!
Check average house prices
So, you’ve settled on your perfect new town and village. You go on a property hunt and everything seems way out of budget. Some areas are naturally more expensive than others. This could be because of property demand or the strength of the area’s economy. It can be difficult to accept that buying a house in your dream area isn’t realistic, but it’s always worth checking the surrounding towns and villages. You could look at properties fifteen minutes down the road and see a substantial change in house prices.
More than anything, you want to be sure that you are getting the property you want at a reasonable price, or getting a good deal. The best way to do that is to check the average house prices within that area. There’s not much point looking at national averages, because they can differ so dramatically across the country. Check out CIA Landlord Insurance’s local property stats tool.
Check crime rates
Similarly – and especially when looking for a family home – it’s important to check the crime rates in an area. You might find a real bargain property, but if it’s a diamond in the rough then it might be difficult to settle there. Living in an area with a high crime rate can also have an impact on things like your car insurance premiums and potentially the value of the house in the future.
CIA’s local property stats tool also allows you to check an area’s official crime rate, even going as far as to let you know how many crimes have been committed in the area and what those crimes were. If you’ve got a family, there’s a chance that being in a safe area is important to you so you’ll want to look for an area with a rate of 10 or below.
Don’t be afraid to ask questions
When buying a house, we can definitely afford to be fussy! And that means asking as many questions as you need to – no matter how trivial they may seem. It’s important to be totally informed before putting down that deposit. Make a list of things that you want to know and of things that are important to you and your family.
Amongst your basics should be:
- How long has the property been on the market?
- How many viewings has the property had?
- How many offers have been made?
- Has there ever been any problems with the neighbours?
- Why are the vendors moving?
- Are there allotted parking spaces?
Depending on you and your family’s lifestyle, you could also ask questions such as:
- Are there other children living on the street?
- Are there nice dog walking routes nearby?
- Did the vendors ever smoke within the home?
- What direction does the garden face and is it overlooked?
If there was ever a time to be nosey and investigative, it’s now!
These things will just scratch the surface when finding your new family home. Although it’s so important to be realistic, considered and careful, it’s a very exciting process so make sure you enjoy it too.
