Before choosing your next home, write down a list of what is most important to you in terms of location, local amenities, and your tolerance for the home’s state of repair. Establishing your “foundational requirements” before you begin shopping will help you prioritize these important considerations so that you don’t fall in love with a home that may not be right for you.

Location includes a variety of considerations that range from the driving distance to work, to how close your child’s school is and where the bus stop is located if you have children, to whether you desire a view or how far a distance you’d like from your next neighbor. Depending on how long you plan to live in the home location will take on a great deal of importance through the years, making it important to project future needs if you have a growing family or elderly parents.

Local amenities are an important consideration even if they are not of interest to you as they will be a positive factor down the road if you sell your home. Even if a local pool, community center, tennis, golf or marina do not hold any interest for you, these amenities will attract buyers in the future and add value to your home. And, who knows, maybe golfing or a boat is in your future!

When evaluating the state of repair of a prospective home, it is advisable to get a professional opinion that considers the house from an engineering perspective. This information may uncover vital areas of concern, like water damage or issues with the foundation. You may be able to negotiate the selling price with this information. But, more importantly, you need to know what your tolerance is for making repairs. Do you have any expertise in this area or will you need to get the work done by an outside contractor? What are the local costs for repairs? And, if the home is older you should get an idea of what kinds of repairs you will need to make over the next 5, 10, or 15 years as they will become additional housing expenses over and above your monthly mortgage.

Naturally choosing your next home will include some more personal requirements like a garage, a fireplace or a home office, but establishing the “foundational requirements” above will ensure that the home you choose meets your long-term needs.

Article produced by Standen Homes, property developers with developments across the East Midlands area. See us for new homes in Nottingham Derby and many other areas.

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