Buying a home is not just a financial decision; it’s deeply personal. One family’s dream home could be another’s nightmare. While location and budget are important, they often aren’t what make you fall in love with or completely dislike a property. In today’s Telegraph, expert Phil Spencer shared some tips.
Location Considerations
Living on a main road might seem convenient at first, especially if it’s close to work or friends. But consider long-term factors like noise and pollution. How will you feel about these in a few years?
Proximity to an airport is great for travel, but the noise could be a deal-breaker. It’s not just about your current preference, but also the impact on future resale.
The ‘Five Years Ahead’ Principle
When buying a home, think about your needs and desires five years from now. This forward-thinking approach ensures your home continues to meet your evolving lifestyle.
The Importance of Neighbours
Good neighbours can significantly enhance your living experience, while difficult ones can make life unpleasant. When you step out of your front door, you should feel relaxed, not anxious.
Sellers must declare past disputes, but this may not reflect current relationships. Try to build trust with the sellers for candid insights, and consider introducing yourself to potential neighbours to start on the right foot.
When considering an area, especially for first-time buyers, it’s vital to understand the buyer demographics. For instance, in a new-build flat complex, if many buyers are like you, there might be a rush to sell at the same time, affecting future property values.
Selecting a Unique Property
In a block of flats, seek unique aspects like better light, proportions, or views. Top-floor corner flats are often the best choice, having no one above and light from multiple sides.
Victorian purpose-built flats, resembling terraced houses, are a rare find but offer great value with proper proportions and their own front door.
Homes built in the 1960s are structurally sound and well-located. Similarly, houses in historic trade centers like Sheffield or Liverpool have excellent architecture, although they may have experienced hard times.
In Victorian and Edwardian streets, the builder’s own home is often slightly wider and offers more space, making it a hidden gem.
Parking, A Growing Commodity
Parking spaces are becoming increasingly valuable. Even if you don’t drive, a parking space can be a selling point or rented out for extra income. Consider applying for a curb drop for additional parking.
Inspecting the Property’s Condition
Always check the quality of DIY fixes. Visible errors can hint at more serious, hidden issues in plumbing, electrics, or the roof. The bones of the house need to be good, even if there are minor unfinished tasks.