Your dream home is probably one of the biggest investments that you will make in your lifetime. Apart from its monetary value, a home carries abundant emotional significance for the owner who makes millions of memories within the soothing confines of those four walls that he/she can call his/her own. Irrespective of whether you plan on buying a sprawling ranch style home in the countryside or a modernized urban loft in the heart of the city, it is important to consider a few important aspects of the property before you finalize the deal.
Location of the property
The one thing that all real estate experts would always tell you to watch out for in a property is the location where it is built. One cannot stress enough the importance of the location of the property in distinguishing a lucrative investment from an ultimate deal breaker. However, since different people have different requirements, it is entirely up to you to decide the most suitable location for settling down permanently. For instance, if you like to work out, you might buy a property that is located within close proximity of a gym.
Security of the neighborhood
The last thing that anyone wants is to live in a locality that poses potential threats to them and their family. It is, therefore, recommended to take your time and speak with the existing residents of the neighborhood to determine whether the area is safe for family dwelling or not. You can also visit the local police station and obtain information about the frequency of any reported crimes such as theft or abduction that might have earlier occurred in the neighborhood.
Age of the property
Whether you prefer to move into a brand new home or a pre-owned home, it is important for you to analyze the livability of the place with absolute practicality. If its a new home you shouldn't have need of any repairs and will have a builders warranty on any future repairs(depending on the builder's warranty) If you buy a pre-owned home, depending on the age of the property, you will need to determine how much work will be required in order to ensure that you do not encounter unexpected repairs once you take ownership.
Affordability of the property
Remember, buying a house is going to significantly impact your finances for several years to come. It is, therefore, your responsibility to make sure you buy what you can afford. It is natural to feel awed and overwhelmed with the majestic charm of luxury properties. However, before you buy your dream house, you must establish your budget and practice restraint by going for properties that you can actually afford. Your lender will help you determine the amount of home you can afford to purchase.
Since, you are probably going to spend many years in your new home (it is your dream home after all), it's a good idea to take your time, do your research and go ahead and purchase the home once you know it's the one you see yourself living in for a very long time.