So, you have received your pre-approval, and you are about to embark on the journey of buying your first home. Or maybe it’s your second home? Whatever the case, house hunting is an exciting and fun part of the process.
One of the most important things to consider when choosing a home is finding the right location. The right neighbourhood can make or break your living experience, and influence the value of the property down the line, if you decide to sell it.
We have rounded up the top 7 factors to consider when choosing the right location for your home.
1. Nearby Amenities
Is the property close to amenities such as grocery stores and cafes? It’s always helpful to have stores nearby, and places for you to leisure, such as cafes, parks, local restaurants, gyms, hospitals and retail stores. If the house is rural, just how far away is it to the closest town or shops? Consider how far you are willing to drive to grab your weekly groceries.
2. Are there any Hazards?
Natural events are bound to happen while you are living in the home. Is there a tree that could topple over in a storm? Is the house too close to a body of water that it might be at risk during flash floods or landslides?
3. Age of Community
How old is the population of the local community? Are there a lot of elderly? Or is the area young, trendy and up and coming? Consider the lifestyle and type of community you want to live in. If you have kids, you may want to consider choosing an area with other young families so that your children have the opportunity to join clubs and sports teams.
4. Local Schools
You may want to consider choosing a house that is close to local schools, including primary and high schools. You may even want to consider being close to a university. This will be especially important if you have children. But even if you don’t, being close to schools will help set you up nicely for any future children. It will also keep the value of the house high, which is great if you decide to sell in the future.
5. Safe Neighbourhood
You should never compromise your safety for a lower value property. Make sure the local community is safe and comfortable for your family to live in.
6. Distance from Workplace
You don’t want to spend hours each week commuting to and from work. Choose a house that has good connectivity to public transportation and isn’t too far from your work, so that, no matter how you choose to commute, it doesn’t become too draining and tedious.
7. Accessibility
Is the driveway long and steep? Can delivery trucks and vans easily get to your door or down the driveway to deliver supplies for maintenance or any renovations? Is the front door easy to find for guests and delivery services? Is the property close to public transportation options such as bus stops?
Don’t Forget to Compare Mortgages
Before you jump into the house hunting process, be sure to jump on Money Compare to compare different home loans. By comparing the different rates on the market, you can make the most informed choice, and therefore, find the best deal possible for your needs.
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