There’s much to love about owning a property, but we’d be lying if we said it was a straightforward process. While there are scenarios when it can be a walk in the park from beginning to end, most people buying a property for the first time find that the process is a baptism of fire. While you’ll eventually be happy to have your hands on the deed to the property, the journey getting there often takes people by surprise.
That’s where we come in. We’ve put together a few often overlooked components of the house-buying process that you’ll be glad to know before you’re in too deep. Knowing about these things early on can mentally prepare you should they come your way, as well as, in some cases, give you an opportunity to handle them ahead of time.
You’ll Learn A Lot, and Fast
Most people who are trying to buy a house have a basic understanding of what the process involves. But when you’re in the middle of it? Then you’ll realise that there’s so, so much more than you need to manage/be aware of/take care of. You’ll learn a lot about mortgages, budgeting, money management, time management, organisation, and problem-solving skills as you go through the buying stages. You’ll also learn a lot about yourself, including how you handle pressure and setbacks.
Avoiding the Chain Can Make All the Difference
Imagine finding the perfect property and going through various steps of the home-buying process, only to be told at a late stage that the deal has fallen apart due to no fault of your own? That scenario is more common than you might think, affecting around a third of property sales, and it’s all down to the property chain. Even if the chain doesn’t break down completely, stalled chains can set sales back by months. The solution? If possible, avoid the chain altogether. There’s no chain for new build houses, which are move-in ready and offer benefits such as modern amenities and better energy efficiency. In other words, buying a new build is an easy way to keep stress levels down to a minimum.
Additional Costs Can Stack Up
Additional costs can quickly stack up, especially if you’re buying an older property. Those homes tend to have undiscovered repair and maintenance work that the property owner has to resolve once they move in. There can also be costs relating to transporting your belongings, keeping you and the family well-fed during the moving process, and other small expenses that can quickly add up. It’s best to put together some extra money in the budget to absorb these costs.
It’s a Rollercoaster — But It’s Worth It
Finally, you’ll likely find that your moving process really is a rollercoaster of emotions. One day, everything will be fun and exciting; the next, you’ll be wondering why you’re even bothering with the process. Just remember this: great things don’t come easy. The journey might be difficult, but it’ll be worth it in the long run!
