Buy a house - But What to Buy?

Looking to buy a house? What sort of property is your ideal? It pays to be specific about what you really want in a new property before you start house hunting. It is best to jot down a list of the minimum requirements you have for a new home, and then to add a list of preferred characteristics. List what you really need first - the essential and practical aspects of a home, and then add what you would like. The basics are, for instance:

Type of Property

What kind of home do you want? A house, bungalow or apartment. Do you want a modern design or period features? If modern, do you want a completely new build? How many bedrooms and reception rooms do you need?  And what about the size of garden, or garage requirements? Do you need outbuildings? Do you have any interests that require a special room or a den? Will you need an annexe for an elderly relative?

Condition of Property

Do you want to buy a home in pristine condition, or are you prepared to buy a property in need of renovation and repair. If so, is your mortgage provider prepared to advance funds on that basis, and would there be any special conditions attached to the loan? Will you have sufficient funds remaining after buying your new home, to complete the necessary work?

Number and Type of Rooms

Be specific about the minimum number of rooms you need - bedrooms and reception rooms.

Location

This is very important. Realtors will tell you that successful property purchase is all about location. It is an important aspect of buying your home and it's covered in the next section.

If you are not specific in what you are looking for, it becomes very easy to deviate from your real needs and your budget. You will waste time looking, and may miss buying the real house of your dreams.

Running Costs

Another aspect of house buying that requires careful consideration, is the cost of running your new home. You will have to pay for heating and lighting, and may need more furnishings. Will your monthly budget cover it?