You've probably heard it said many times that purchasing a new home is among the most nerve-racking things you can do. Actually, in terms of stress, it's right up there with getting married and having a brand new baby. Purchasing a new home is an exciting time too, although: here's how to do it the easy, stress-free way!
Don't break the bank
A palatial new pad might seem worth breaking out the credit for, however struggling to pay the bills is no fun at all - as you will find out. To minimise monetary stress, it's usually a great idea to set a strict budget and stick to it, no matter how enticed you feel! Shop around for a mortgage and insurance, and remember to budget for any renovations you'll need to take care off soon after moving in.
Take your time
Like most of us, you're probably desperate to get your foot on the property ladder - or to move up it if you're already there. Do not be in so much of a rush, though, that you jump at the opportunity of the first house you see and risk ending up with something that's not quite ideal. This is probably the biggest purchase you'll ever make, so take your time over it!
Have a contingency plan
If you find yourself caught in a "chain" (you cannot move into your new home up until the prior owners leave, but the individuals purchasing your new property are eager to move in), your stress levels will rocket unless of course you've a backup plan. The very last thing you would like is to be caught with a bridging loan (a loan to tide you through the gap between purchasing one home and selling another), so make sure you have someplace to go, even if it's the extra room in your parents' house, should your chain breaks down.
Plan out your moving day
It is only one day of your life, but you should preferably start planning your move as far ahead of time as you can, to make sure it is as stress-free as possible. Pack up everything you do not use on a day-to-day basis and label your boxes with the room they will be going to in the new house to make unpacking easier.
Look at properties for sale by owner
Occasionally the stress of buying a new home does not come from the home at all, however from the estate agents coping with the sale. There's nothing more frustrating than working with a middleman, and having to wait around while messages are relayed between yourself and the seller of your property. Now that more and more people are choosing to sell their properties themselves, however, you can reduce the middleman and go direct to the seller. Keep a search for properties listed "for sale by owner".
Don't break the bank
A palatial new pad might seem worth breaking out the credit for, however struggling to pay the bills is no fun at all - as you will find out. To minimise monetary stress, it's usually a great idea to set a strict budget and stick to it, no matter how enticed you feel! Shop around for a mortgage and insurance, and remember to budget for any renovations you'll need to take care off soon after moving in.
Take your time
Like most of us, you're probably desperate to get your foot on the property ladder - or to move up it if you're already there. Do not be in so much of a rush, though, that you jump at the opportunity of the first house you see and risk ending up with something that's not quite ideal. This is probably the biggest purchase you'll ever make, so take your time over it!
Have a contingency plan
If you find yourself caught in a "chain" (you cannot move into your new home up until the prior owners leave, but the individuals purchasing your new property are eager to move in), your stress levels will rocket unless of course you've a backup plan. The very last thing you would like is to be caught with a bridging loan (a loan to tide you through the gap between purchasing one home and selling another), so make sure you have someplace to go, even if it's the extra room in your parents' house, should your chain breaks down.
Plan out your moving day
It is only one day of your life, but you should preferably start planning your move as far ahead of time as you can, to make sure it is as stress-free as possible. Pack up everything you do not use on a day-to-day basis and label your boxes with the room they will be going to in the new house to make unpacking easier.
Look at properties for sale by owner
Occasionally the stress of buying a new home does not come from the home at all, however from the estate agents coping with the sale. There's nothing more frustrating than working with a middleman, and having to wait around while messages are relayed between yourself and the seller of your property. Now that more and more people are choosing to sell their properties themselves, however, you can reduce the middleman and go direct to the seller. Keep a search for properties listed "for sale by owner".
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