The search for a new property can be thrilling, and of course, quite stressful. House-viewings, numerous photographs, home descriptions and advice from everyone you know may leave you feeling quite confused about the correct choice. When looking to buy or rent a property, here are five factors that you need to keep in mind before making a decision:
- Consider your long-term needs:
Before starting your house-hunt, stop and assess your home needs for the present and the future. Are you planning on getting married? Do you have children? Are you planning to have children? Do you plan on starting a business from your home? Homes are a long-term investment, so aim to ensure that your new home will be able to accommodate your needs for at least five years.
- Don’t forget about upkeep costs
Cost is generally a concern when it comes to home ownership; but what many buyers forget, are the bills that accumulate after the sale. It’s important to consider whether you can afford (whether time wise or financially) the proper maintenance for your new home, and this includes the gardening and outdoor maintenance. If you’re not used to taking care of a garden, reconsider the idea to buy a house with a large garden; you might not be willing to spend all weekend mowing the lawn. Take some time to discuss and consider the upkeep efforts and costs with your property agent, and make sure you can tackle the maintenance your new home requires.
- Look out for potential problems
Keep an eye out for anything in your prospective home that could potentially cause you headaches in the future. Look out for mould, test the water pressure, knock on walls to check whether they are hollow, assess whether the property is close to any high-traffic roads or businesses that could be disruptive, check for any unwelcome odours and make sure that you investigate any potential problems.
- Buy in the right area
Location, location, location… the adage is true, location matters. This doesn’t always mean you have to purchase in the most fashionable neighbourhood in town, as your location is important on several levels. Consider your commute time, the nearby amenities, the potential future value of the home, security and even the spirit of the neighbourhood. Be sure that there is nothing that could make you regret your choice of address.
- Use a trusted professional
When it comes to property knowledge, you want the best. Be sure to select a knowledgeable and trustworthy property professional, one who you feel comfortable working with. Before meeting with prospective agents, prepare some questions to check whether they are a good fit for you. Ask about their experience, how many buyers they represent and ask for a few references.
Mobus Properties Ltd. is a privately-held Ghanaian property investment, development and management company focusing on commercial and residential property development. The company has property portfolios in Ghana and Nigeria.
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