Home is said to be where the heart is. It may take years of planning, saving, and dedication to transform a house into a desirable home for the heart. Therefore, before deciding to move, it is prudent to be well informed and aware of all aspects of a home purchase.
If you are a first-time homeowner, it is of utmost importance to speak with UK estate agents, lawyers, Property Sellers, Property Investors, and Property Buyers before deciding to move. This will help you become aware of common mistakes and avoid them for a smooth transition into the new home. We’ve compiled a list of errors that every home buyer should avoid.
Common Mistakes to avoid when moving homes
- Researching thoroughly
Investigating the specifics of a neighbourhood before committing to live there can save you a lot of trouble later on —
(i) check for accessibility to amenities like grocery stores, healthcare centres, educational institutions, banks, transportation etc., and
(ii) Speak to current residents and understand their ways of lives in the neighbourhood,
(iii) Check for safety and crime rates,
(iv) Understand the market value of the place and property, and
(v) Check out multiple locations and properties before committing to any particular one.
- Verify Agent credibility
Before hiring a real estate agent to find your prospective house and plot, you should ensure to determine whether or not the agent is credible and competent in their field. Some methods include (i) asking family and friends to recommend good agents with whom they’ve previously worked and (ii) verifying the licence and certification of the agents before hiring them. (iii) Carefully evaluate their recommendations and determine whether they understand your wants and needs in relation to the transaction.
- Risk of overextending your budget
Don’t get swayed by the appeal of a bigger house beyond your budget. Instead, make a home-buying budget and stick to it. There’s a tendency for first-time buyers to base their decisions on how much a lender will advance them rather than consider other costs. If they can’t afford the monthly payment, this may put them in a difficult financial situation and perhaps put their home at risk of foreclosure. Therefore, it is essential that you not only calculate the amount required for buying the house and property but also the amount required for the upkeep and your daily expenditure. Be aware that homeownership includes additional recurring expenses, such as homeowners’ insurance, real estate taxes, and repair fees.
- Consider future requirements of the family
If you plan to live in a home for a long time, consider whether the neighbourhood and the property will meet your family’s needs in the future. This includes
(i) extra space in case a baby is on the way, or an elderly relative wants to move in with you;
(ii) access to schools and other educational institutions for the children; and
(iii) workspaces for the spouses, or at the very least a reliable transportation system to get them there.
- Inspect property interiors carefully
Even after you’ve deemed a property perfect for purchase, take the time to get a second look before you sign the documents. If the home is already furnished and ready to move into, go over each room to look for variations from the approved plans or any areas that might need maintenance. Inform the owner or developer right away if there is any discrepancy.
- Before listing your house for sale, prepare it.
You should prepare your house before putting it on the market to ensure a better chance of getting a great deal. Ways to do it include:
(i) Declutter: helps to create an open and airy feeling, and limiting the number of personal items in a home can help a potential buyer visualize their things in the space.
(ii) Repairs and Paint: Identify and make repairs, and apply fresh coats of paint were needed to increase suitability for habitation.
(iii) Depersonalise: Neutralize the space by removing personal items so that buyers can imagine themselves in that space without feeling intrusive.
- Make an ‘essentials’ hamper
There’s a high chance that you might pack everything into boxes and then scurry looking for things on the first day at the new home. To avoid confusion, it’s best to prepare a moving essentials kit containing clean bedding and pillows, cleaning materials, toolkits, flashlights, stationery basics, snacks, clean drinking water, and an overnight bag.
It can be both exhilarating and stressful to move to a new house. There will undoubtedly be doubts about locations and neighbourhoods, affordability and reliability of agents. Therefore, you must follow our curated guide to avoid mistakes before moving homes. Happy buying, happy moving!