Finding your new home: Things to think about...

our online Mortgage Guide - Page 4 of 14:

When it comes to finding your new home, there are a number of considerations to be taken into account.

Because a mortgage is usually the largest financial transaction most of us are ever likely to be involved with it's important to make sure that when finding your new home that the property you do eventually buy ticks all the right boxes, or at least as many of them as possible, whilst of course not straying from your budget! Not to do so could cause troublesome problems later on down the line.

Some of the considerations of the property itself that you may want to think about when finding your new home include...

Property Type:
e.g. Flat, maisonette, townhouse, terraced, semi-detached, detached, bungalow

This is an important consideration, and of course down to your personal preference. Most people aspire to live in a detached property, but obviously this is not within everyone's budget, so it's a case of weighing up your options as to what's within your affordability range, and your personal preference.
Property age / condition:
e.g. New Build, housing estate, older but modernised, in need of renovation, self build

Again another important consideration when it comes to finding your new home that shouldn't be overlooked. Once more this is all a matter of personal preference. Some people prefer older houses with some character and charm, whilst other people may prefer the 'mod con's' offered by today's new build homes. Some people like a bit of a challenge and will be on the lookout for a bargain-priced house in need of a little TLC or even major renovation, whilst other people may be looking for something that's in perfect condition. It's all horses for courses!
How many bedrooms:
Think about how many bedrooms you may need. Do you require an extra room for a home office / study, or perhaps just for general storage.
Garage / Parking Space:
If you drive, you're going to need somewhere to park your car, be it a garage, or parking space, and even if you don't drive garages are always handy to have for storage, or even to serve as a utility area for washing machines / tumble dryers and chest freezers especially for those houses with no utility rooms or small kitchens. If no garage is available and you drive, it's important to know if there is any allocated parking spaces.
Garden:
Large, small, window box, rear only, none

Think carefully about the type of garden area you would like. If you have children you're undoubtedly going to be on the lookout for at least some kind of garden space that your child/children can play safely on. Many properties don't have front gardens, will this be an issue for you? Is a garden really important to you, and if so does the size of the garden matter? Does the property come with any outbuildings such as a storage shed or greenhouse? Are these important factors to you?
Potential for expansion:
In years to come your needs may change, you may be looking at starting a family, or maybe have new additions to an already existing family - is there scope to add an extension anywhere to accommodate this eventuality if it is potentially on the cards? Or maybe you'd like to have a conservatory built at some point.

We hope that's given you a good idea of some of the considerations you will need to take into account when finding your new home. There's a lot to think about and take on board, but this is most definitely one of the fun aspects of finding your new home.

Next up we'll take a look at that well-known phrase 'Location Location Location', its origin and the importance of location when it comes to finding your new home.

NEXT: Location Location Location! ›

Enquire Online now, or call us today 08000 282 281 - our freephone lines are open 8am-10pm everyday! We'd love to hear from you!

The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.

There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.

THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Adding existing debt to your mortgage will increase the repayment term and overall cost.

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