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Things to consider when house hunting
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Lots of people want to get their foot on the housing ladder and one day own a home. However, with rising costs of living, it’s increasingly difficult in the UK to get in the property market. If you’re looking to take the leap and become a homeowner, the last thing you want to do is rush into a decision without weighing up all the options. So, we’ve put together a few tips to help you know what to be aware of when house hunting:
- Compare properties with different views, price tags and locations.
- Check out the condition of the home, or you might get stuck with an unwanted DIY job.
- Make sure you look into buildings and contents insurance before buying a home.
When hunting for a new home, your budget’s normally your biggest consideration but don't forget to weigh up all the other important factors too.
Compare property value
The UK housing market continues to boom year-on-year with rising house prices. These days, the market is filled with lots of properties with high price tags, which can make house hunting like searching for a needle in a haystack. It’s more important than ever to keep your wits about you when looking for a property to make sure you get the best value possible.
Central London has some of the most expensive house prices in the UK. The average house price in London holds a value of over £520,000.
There are benefits to living in the city, but a price like this could get you six properties in Yorkshire or nine in the North East of England! Weighing up properties with similar asking prices can put into perspective the true cost of city living and help you make that all-important home-buying decision.
Location, location, location!
When house hunting, remember to consider the location of the property, not just its appearance. The location won’t just affect the price, it also plays a big role in your experience living there. When it comes to choosing a location, here are some things all prospective homeowners may like to consider:
- Do you want to live rurally or in the buzz of the city?
- How close are the nearest schools, cafés and shops?
- Do you want easy access to public transport like buses and trains?
Picking the right location depending on your needs and budget will make all the difference to your overall lifestyle. Don’t rush the search, take your time to find the right home in the location that works best for you.
Consider the size of the property
At an average of just 75 square metres, the UK is home to one of the smallest average property sizes in the world. Some places in inner city London are even smaller, which might make for uncomfortable sleeping arrangements and cramped dinner times!
Less busy areas like Yorkshire and the West Midlands offer more space for a smaller price tag. When checking the size of a property, potential homeowners should also consider:
- The location of the property.
- Who and how many people will be living there.
- How long you intend to stay at the property.
It’s important to look ahead and consider what you might need in the future before choosing a home. While some people might prefer somewhere cosy, a smaller property may not be ideal in the long run.
Remember not to rush the house hunting process unless you have to. If the home doesn’t quite live up to your standards, it’s probably not the right fit!
The UK housing market is full of absurd homes
Check the building’s condition
If you don’t know what to look for, you could find yourself stuck with a home that’s not up to scratch. It’s easy to give a house a good clean and make it look presentable for potential buyers. So, keep an eye on the finer details that could cause you problems in the future. Homebuyers need to watch out for issues such as:
- Signs of dampness or mould.
- Weak water pressure.
- Pictures or decorations that could be hiding a problem.
- Unsteady foundations which can cause cracks in the walls and sagging floors.
In an ideal world, the property owner and estate agent will be upfront and honest about the potential issues of the home. However, it’s always best to do your own inspection to make sure nothing slips through the cracks.
Be aware of real estate buzzwords
Estate agents have a job to do and their goal is to sell you a house. When the property pictures aren’t too pretty and the appearance of the place has become a little worse for wear, real estate agents and property owners need to think outside the box. They often rely on clever real estate lingo and creative descriptions to emphasise a property’s benefits. Common real estate buzzwords to look out for include:
- Original condition – The previous owner likely didn’t maintain the property and it’s looking worse for wear.
- Cosy – Could be a term used to talk up a limited and cramped space.
- The last one – Often used when a development’s selling fast and the property’s the ugly duckling no one wants to buy.
These expressions aren’t always disguising potential red flags, but it’s good to keep your wits about you so you don’t get any nasty surprises.
Get the right home insurance
Whether you're buying a small flat or a spacious home, one thing all homeowners need to consider is home insurance to protect the building and your contents.
Buildings insurance provides protection for the structure of your home, including cover for damage to your walls, roof, fittings and windows. This type of insurance can help cover the cost to rebuild your property if you’ve been affected by theft, flooding or fires.
If you want more cover, consider one of our home insurance policies, this will keep both the structure of your house and your belongings protected. Either way, getting it arranged in advance will keep you covered the moment the house is yours.
Insuring your home and your belongings helps give you some peace of mind that your property is safe and sound.
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