The term ‘buyer’s remorse’ was coined to describe that sinking feeling that you get when you realise that you have bought something that you shouldn’t have. In the case of a new pair of jeans or a kitchen gadget it’s not too much of a problem, as the outlay is low and you will probably be able to get a refund.
The situation with house buying is very different! Once you complete a purchase and pick up the keys, there is no going back. For better or for worse, that property is yours. If you have made a mistake, you are in for months (possibly years) of sleepless nights. Here we set out how you can avoid making that mistake.
Check That You Are Ready to Move
Buying a house can take a heavy toll on your mental health and on your finances. Moving home is one of the most stressful life events that we have to deal with. Before you even consider purchasing a property, have a think about whether you are feeling emotionally robust enough to take it on.
Your finances are also important, and this is not a time to be overstretching yourself. By getting a quote for conveyancing fees from firms such as https://www.samconveyancing.co.uk/conveyancing-quote and for legal fees from local and national solicitors, you can get a clear picture of how much this is going to cost you.
Do Your Research
You can impulse-buy a pair of shoes but not a house! Property buying requires meticulous research. Check out the house prices in the area to see how yours compares. Does it look like you are getting good value for money?
Have a walk around the neighbourhood at different times of the day. How does the area feel? The condition of your prospective neighbours’ houses can tell you a lot about what it will be like to live there.
What about transport links and local amenities? Think about where you will shop, where you will go out for a meal and where you would go to the gym. If you have children, you should always check out which catchment area you are in and investigate whether you will be happy with the schools. Don’t forget to check how long it will take you to get to work – you don’t want to spend half your life commuting!