Buying a first house is one of our largest investments and many of us are doing it more often than once during our life. When you enter that “buying first house” mindset, suddenly all the questions and ideas that have been bubbling away in the back-of-your-mind, become more immediate and pressing. It can seem as though you need to know everything at once. This is always a good time to take a deep breath, step back and really consider your “buying first house” needs, ideas and housing trends.
For example, many things in our lifestyles have changed significantly, so have our home practices. Many of us do not remain in one house for the full duration of our lives as it used to be for many people in previous generations. Our modern dynamic lifestyle and economy, dictates flexibility, mobility and frequent changes. Now, more than ever, people are following their roles and careers even if it implies moving from one side of the state or country to the other. This inclination is in accordance with our culture of being a consuming society. We replace everything quicker, we treat clothes, vehicles, fridges and our dwellings like fashion items with short life spans.
When we enter the buying-first-house phase we want to concentrate on the idea of short to medium range periods and that should bring us to think about the future value of our home. The number one focus should be your own needs and desires but it is also important to keep an un-blinkered attitude about what might suit future buyers too. The most significant 3 factors (with any property, not just buying first house) are : location, location and location…(how many times have we all heard that!)
So, what makes an excellent location when buying first house? There are some general elements which are evident like :
- Does the area have straightforward and fast access to the faculties, shopping centers and members clubs.
- It’s smart to choose a home that’s found comparatively raised above the area, that may provide 2 benefits : a flow of good air and a nicer view.
- How many neighbors are diagonally opposite to you and/or across you in vicinity – of course the less the better.
- If the street is a dead-end or cul-de-sac it’s even better.
- A corner house could have more light and air and is often a larger block.
- The positioning of the house towards the north if it is a warm area vs the south in cold areas. One, out-of-left-field and peculiar consideration (found to be consistent to several locations around the planet), is that the north areas are usually more fascinating than the southern ones, precisely as the western ones are far more celebrated than the eastern ones.
- The dimensions of the lot, its shape and the sq footage of the house itself.
- If the bulk of buyers in your neighborhood are young families with kids, consider a home with a larger yard that is not fronted by a busy street.
- There are lots of other environmental aspects when buying first house to think about with regard to personal taste like a green rural area vs. Urban area, quality of faculties and other social services and facilities.
Next post: Buying First House and Future Value Part 2.
