Purchasing a property is a long-term investment. On average, depending on the phase of the market and external influences, it can take around five years to see real returns on a property investment. As a result, people are staying in their home longer than they have in the past, so it is vital to select the right property that meets your lifestyle both now and in the future.
While every property purchase should be seen as an investment, and careful consideration should to be given to aspects that could impact the home’s appreciation value over the long term, not everyone buys a home purely for its potential returns. If the home is your primary residence, you will actually live in it and it needs to fit in with your lifestyle. It’s one thing to consider the list of features the home has on offer, but what about the experience of living in the home and how that will affect your day-to-day life? An investor who is buying a property as part of the portfolio will be primarily concerned with the home’s resale potential, however, the motivation for purchasing a particular property will be more emotionally driven for most homebuyers. In certain instances, focusing only on the home’s potential return on investment can be a mistake.
A question that buyers need to ask themselves when looking at a potential home is how they plan on using and living in the property. If you know the answer to this question, you will know whether a property will fit in with your lifestyle and suit your needs for the time you stay in it.
Consider the things you like to do during the weekends or when you have free time in the evenings. Do you enjoy going to nice restaurants, or is eating and entertaining at home more important to you? These aspects will help you to assess whether a property or a neighbourhood is the right fit. It’s about learning to read the house and knowing what you are looking for.
When looking at a home, try to think long term and how your lifestyle could change over the next few years. It is not possible to tell exactly what may lie ahead in the future, but its vital to consider your future aspirations and how things could develop over time. For example, you may not have children at the moment, but you are planning to in the future, so proximity to outstanding schools would be something to think about. It is good to be prepared and plan for what is likely to happen and perhaps for a few things that aren’t.
When looking at a property, there are three main aspects to think about: the functionality of the home, the cost and the enjoyment. Function relates to the practical elements of the home - such as the number of bedrooms and the commute to work. The cost is the price paid for the home, along with all other costs involved in the property transaction and day-to-day costs of owning the home. Enjoyment relates to the lifestyle offering and what you would get out of living in the property. Mixing enjoyment into the equation will assist in balancing out function and cost and will help you make the right decision.
The enjoyment aspect will be dependent on your unique partialities. Perhaps the home is ideally positioned to your favourite restaurant or pub, it could be the view or amazing garden – it will all depend on you and what you want and enjoy. Everyone will have varying elements that appeal specifically to them. If you love the house you buy, you are purchasing more than just bricks and mortar - you are buying a home.
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Vanessa heads up a great team who are resilient and diligent in finding the right buyer for a house. The team work very hard to make sure that your home is professionally repres... Read full reviewReview Added: Sep 20th, 2019
Both Julie and Jason were very helpful during the purchase of our new property. Answered all the questions we had promptly and were more than welcome to show us the property as and... Read full reviewReview Added: Sep 19th, 2019
Karl was upbeat and dedicated re the sale of the property. Available 24\/7 makes a welcome change as viewing was not restricted to certain times, extremely useful re prospective pu... Read full reviewReview Added: Sep 16th, 2019
Mark provided an excellent service throughout. He was always pro-active, communicated well and was always flexible to any last minute changes. Read full reviewReview Added: Sep 13th, 2019
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