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What Home To Buy - Property Guide - Own Your First Home

"Searching for your new home" will help you identify what you are
looking for in a home and what factors influence its appreciation
and might affect its resale value.

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What are you Searching for in your New Home?

This is the fun part! If you’re buying a property to live in, then your needs and desires will dictate what you buy – coupled, of course, with what you can afford – so it’s important to spend some time weighing up what’s really important to you.

Every dream you have ever had comes into its own here, so take a tour through our guide to some features to consider, when looking for your
new home.

Light And Space

Light and space are high on the agenda of most first home buyers – even if they don’t know it. Start taking note of which rooms in other houses or offices that you enjoy being in – and chances are they have a high element of natural light and a good feeling of space. Keep an eye out for sunlight and quality design that creates a sense of space.

To DIY or not to DIY?

If you are buying your first home as an investment, then you have a decision to make: are you keen on DIY renovation? If you are, then the first rule of Do-It-Yourself is to understand what you can comfortably do yourself within your own time frame and budget, and what you’re going to have to pay tradesmen to do for you. This will come back to the relative level of a property’s condition, so make sure you get a good idea of just how much work would be needed to make your ideal renovation changes.
If you’re not a DIY person, then the main consideration is how much money you can afford, your own and borrowings, to pay for a professional to manage any renovations. Budget this sum into the overall amount you wish to borrow.

Close to Amenities

Everyone differs on just how close they like to be to the rest of the world and amenities, but this is something you must ask yourself! Are you happy with having to drive to the nearest shop, or would you prefer to be within walking distance?
Is there a bus stop or train station nearby? What about schools? Being close to amenities is not something everyone needs, but if you’re the kind of person who likes to be ‘in among it’ this should probably be a high priority when you are searching for your first home

Kitchen And Bathroom

Research shows that a standout kitchen or bathroom really makes a difference to a home buyer’s perception of a property – whether you’re the buyer, or when you’re selling later. If you’re planning to lease out your property at some stage, keep in mind that families with young children will want a bath, while young couples or professionals may be more interested in a top-notch kitchen. Does either the kitchen or bathroom have something really special about it, or is there the potential to create something special there?

Parking

Consider what parking is available if you own a car when thinking of buying. If a home has its own car space, that’s a brilliant value-add, particularly if the suburb grows in popularity and residency builds over the years. If it doesn’t have its own car space, be sure to visit the property at several different times of day, and at the weekend, to work out how easy it is to find a car space near the property. Carrying a boot-load of groceries two blocks can become exhausting and frustrating!

Number Of Bedrooms

If you’re looking for a home for your family or future family, three bedrooms is probably the minimum number required. Also, when you come to sell your property, three-bedroom houses tend to attract a wider number of buyers, because couples, families and groups all become interested. Depending on the state of the market and the number of properties up for sale, a three-bedroom home can ask a significantly larger sale price than a two-bedroom.
Another option is to look at a two-bedroom home with the possibility of extending – either up or out – over the coming years. The same goes for one-bedroom properties that could be converted into two bedrooms.

DA Approval

If you’re considering extending a property after purchase – say, adding an extra bedroom – check with the local council to see if it appears likely you will get DA approval. (It’s better to find out now that you can never improve the property than in five years time when you have a family of four in a two-bedroom home.) Key elements that could impede any changes to your home may be that the suburb is a heritage-listed area, or that your planned extension affects the privacy or sunlight of your neighbours.

Schools

If you have children or plan on having children, you should definitely look into the number and calibre of nearby public and private schools. And even if you plan never to have children, it’s still a good idea to find out what the available school options are: if you decide to sell, a home that is near to good schools is a major attraction for parents.

Living Space

Having one large, friendly area for a family or group to relax in is a key selling point in a home. The lounge room is probably the area in which you will spend most of your time, so make sure that it’s an area in which you feel comfortable – and big enough for everything you need, from sofa and chairs to stereo and TV.

Storage

Over time the amount of storage space in a home can be essential. Do you have a lot of clothes, bed linen, bikes or work equipment that need to be stored? If so, look for a property that either has plenty of built-in wardrobes and cupboards, or the space for you to install them or bring in your own wardrobes.

Views

Views enhance the experience of living in a house or apartment and a great view can add considerable value to a property. And it doesn’t have to be of the sea or the countryside; views of the city, a neighbourhood park or attractive classic building can all add value to a property.