06/04/2017
When considering a property purchase we often find ourselves asking, what should we do first?
The plain answer to this is homework.
The initial homework prior to viewing potential property options is vital and would be handy as a reference once we come across the “right property”.
List down on a piece of paper the features a property needs to have in order to qualify for you under two sets, namely MUST HAVE on one hand and NICE TO HAVE on the other. Take your time to discuss this with other parties involved in the purchase as this will be your main guidance once a decision, and sometimes a quick one needs to be taken.
The must have list would contain the most important and vital things that your future property needs to have. This list would usually include the following: Number of Bedrooms, Location, Garden? , Type of property, Stairs? Etc …. Be realistic in line with your available budget as the features in the must have list are non-negotiable and would help you decide whether the property being considered in the future is the right one for you or not! It is normal that once we start liking a property our hearts cling to it a little, resulting in us to deviate from our original plan and priorities. Hence a written must have list would help us get back on track and decide accordingly avoiding regret at a later stage.
The nice to have list would contain requirements of less importance, bonus features! This list would usually include: Storage space, a 3 car garage instead of a 2 car one, bigger garden with space for pool, parquette flooring etc. The features in this list are those on which we afford giving it a miss as long as the Must have features have been fulfilled. The nice to have list is still very important in order to help you decide to go for one property over the other in case you are spoilt for choice.