Moving house is so exciting but it can also be a nerve wracking time. By giving proper consideration to the process you can eliminate some of the stress. Here we list our top 5 things to consider before moving house.
1. Location, location, location
Without shadow of a doubt this is one of the most important factors. It may be that you can’t afford to move to your ideal location but you do need to put some cold hard facts down about the right area. Most frequently these are based around the distance to school and work. There is a point at which you will make everyday life harder if you have a really long commute. Don’t push beyond this point as it’s not worth the sacrifice. It may be that now isn’t the right time for a move that far away from work but in the future, it might be an option.
2. Consider your borrowing
There are various ways to borrow the amount you need to purchase your house or to carry out the renovations needed. You’ll need to consider whether you want your money supplied by a direct lender through a company such as Polar Credit. This is a credit line which works much the same as a credit card – offering a quick and easy application process and a fair interest rate, with the ability to access cash as and when you want.
Or if you would prefer to stick with the traditional route of using a high street bank. Whatever route you decide to take it is imperative that you look at the long-term costs of borrowing.
3. Survey
Invest in the best survey you can buy. Forearmed is forewarned and it is undoubtedly better to know exactly what you are buying.
4. Budget all the way
Everyone should be using a budget to track their monthly incomings and outgoings. Without doing this you will be hard placed to be able to work out exactly what you can afford to spend on your new mortgage or remortgage and bills for your new home. There will be a time in your life when you are looking to downsize but for the purposes of this article let’s assume you are moving to a bigger property. Make sure you look up the Council Tax banding for the new house and allow more for water, electricity and gas.
5. Approximate costs for works
If the property you’re buying needs some work doing to it I would advise that you speak to people about how much this might cost. If the work is something that neighbours have already completed such as a side-return extension or an extension of the living space at the back of the house, ask them about it. If not, it would be worth asking a builder to take a look.
I hope you found some of these tips useful? Moving house can be stressful but from past experience, I can tell you that it is almost always worth the effort! If you follow some of these tips, it will be easier too and changing things up really does make life more interesting!
