Buying a new home is an exhilarating and significant life event. This is especially true if it’s your first home. You’ll start with an idea of what you’re after, then embark on a hunt for that perfect place you can call home. But the search can become overwhelming without a clear understanding of what to look for.
Regardless of whether you’re searching for a family home in Melbourne or a trendy townhouse in Sydney, considering a few key features can simplify your decision-making process. Here’s our list of the main features you should be looking for when buying a new home.
1. Location, Location, Location
It’s a saying that has been overused to the point of being cliche. But that doesn’t diminish the importance that location plays in determining the value of any potential home. This applies both now and in the future. And it isn’t just the neighbourhood you should be looking at. Consider the property’s proximity to your workplace and the quality of local schools. And don’t discount the importance of local parks, shops, and public transport. The ideal location is one that balances convenience and lifestyle.
2. Understanding the Market
In the age of information, data is your friend. With the Archistar property platform, you can access invaluable insights into the property market. These can help you gauge the pulse of your desired suburb, letting you know whether it’s a buyer’s or seller’s market.
Look for information on current property listings and median prices:
- Are the prices increasing or decreasing?
- What’s the buyer demand like?
- Are houses more common, or are units the norm?
Don’t forget to check the average days a property stays on the market and the average per square metre price for properties. This kind of data helps you understand the market dynamics and can guide your buying decision.
3. Structural Integrity
It’s easy to be swayed by a fresh coat of paint but remember to check the less glamorous aspects of the property. There shouldn’t be any signs of structural flaws, such as cracks in the walls or ceilings that are sagging. Check the condition of the roof and look for signs of damp. And if you have any doubt, have a pre-purchase inspection carried out.
4. Room to Grow
Think about your future needs. If you’re planning on starting a family or having relatives stay over often, you might want to ensure there’s enough space. Extra bedrooms and a spacious garden could prove invaluable down the track.
5. Outdoor Space
We love outdoor living, so consider the quality and size of the outdoor space. Does the property have a suitable area for a BBQ, or space where your kids can play? Is the garden manageable, or will it require significant upkeep?
6. Energy Efficiency
There’s no ignoring the importance of sustainability. It’s not only essential for the environment but it can also mean lower utility bills. When looking at properties, look for solar panels, the use of water-saving devices, insulation, and energy-efficient appliances.
7. Local Community
The local community can have a significant impact on your enjoyment of your new home. Research the neighbourhood and visit at different times of the day. Check out the local shops, restaurants, and community facilities. Are these places you’d enjoy spending time in?
8. Potential for Value Growth
Consider the potential for property value growth in the area. Are there upcoming infrastructure projects, or is it a growing neighbourhood? Are there zoning laws that might affect future developments? You’re looking for variables that can help you anticipate how the neighbourhood might change in the future, since this can significantly impact your home’s value and your quality of life.
9. Natural Light
A well-lit home with plenty of natural light can make a world of difference to your living experience. It makes spaces appear larger, and it can even boost your mood! Check the orientation of the home and the size and placement of windows in relation to the sun’s path. Remember, lots of natural light can also mean lower utility bills.
10. Storage Space
Storage space is easy to overlook but is something you’ll definitely miss if there isn’t enough of it. When considering storage space, don’t focus only on wardrobes. A garage, shed, linen closet, and pantry can be welcome additions too.
11. A Sense of Home
Finally, there’s the less tangible personal and emotional factor. Does the house feel like a home to you? It doesn’t matter how many of the other features it matches perfectly if it doesn’t trigger a positive emotional response.
You’re not looking for a home that is perfect. You’re looking for one that has most of the main features covered here and you can see yourself happy in. The home becomes perfect after you settle in and make the space your own.
Getting ready to start your search for a new home? Create your free Archistar account to access ample information that could make your property search easier, including the ability to pay for title searches on any properties you’re considering.
