How to Find Your Dream Home

How to Find Your Dream Home

Becoming a homeowner is a big step in your life and you need to be sure you are absolutely ready for that. Your previous rental house or apartment was your temporary home, but now you are ready to move on and you have to look out for many details. Search for the things your previous home lacked. Make a wish-list of all the things you want in your new home and hit the market. However, don’t get carried away and take each step cautiously in order to find your dream home.

Stick to your budget

Overall, you should set the budget high enough for you to keep your mortgage payment at approximately 25% of your total household income (including taxes and insurance). However, if you live in a bigger city, you will probably have to increase your budget a bit. Nevertheless, your starting point for determining the right budget is your monthly household budget and from there you will be able to calculate what you can afford. Also, make sure you look at houses that fit your price range and stick to it. As soon as you start looking at houses that are even a little bit above your budget, you might get deceived that the previous cheaper houses are not good enough.

Renovation or move-in ready

Depending on your desires, needs and available budget you probably already know if you wish to renovate your new home or you want it to be move-in ready. If your budget allows it, you can search for a house and completely renovate it so it fits your needs, but you need to be careful. If you are already looking at the house that is at the top of your budget, you will have no money left for renovation and it can be hard to get the renovation loan for the difference in your pre-approval amount and the price of the house. On the other hand, if you wish to save some money, look for houses that are ready to move in, but make sure they still fit your needs.

You can build it

There might be a situation that you cannot find the house that is just right for you. Also, it might happen that you have inherited a lot. If not, you can always find a perfect lot where you can build your dream house. It can be hard to find the right space and location, but you can ask your realtor or even your builder to help you find the perfect spot on the Australian market. This big project certainly asks for a bit bigger budget, but if you have it you can find an architect who will put your vision and desires on the blueprint and start building. Rely on professional home builders from Sydney that can help you get everything you need.

Check out the neighbourhood

Before making an offer or starting to build your home you need to check out the neighbourhood first. Go through it on foot and look for clues. Visit the pubs, playgrounds and parks at different times of the day in order to get the clear picture. Take a good look at other houses and how well-maintained they are. Look for local shops, restaurants and other necessary stores. Also, don’t be afraid to speak to some of the people who already live there and they will give you the true description of the neighbourhood. Lastly, check what will be built in your neighbourhood so you won’t get surprised later and that there is no unexpected noise.

These are some of the most important aspects of becoming a homeowner. Besides setting the right budget, you should always stay realistic and look for the house that can optimally satisfy all your needs, desires and dreams.