What to look for when buying a new home
As a newbie leaving the nest for the first time or someone buying their first home, the process of knowing what to do and what to look out for when buying a new home can be quite daunting. Understanding the process, avoiding making mistakes, becoming a slave to your job and bank for half your adult life, all make the process confusing and quite stressful. But it doesn’t have to be with a well-thought of home buying checklist.
Define your Must-Haves
Before starting your search, make a list of the non-negotiables and discuss them with your future housemate. Consider factors like the need to commute, proximity to amenities, and the need for a car space.It may be you have a job that allows you to work remotely and going into the office each day is no longer high on your home buying checklist.
Design your Home Life
As the lawyer in the 1997 movie The Castle says, it’s all about the vibe. Your home is your castle, and your castle is there to be enjoyed. A short stroll around the neighbourhood will give you a feel for the surroundings. Urban centres planned around foot traffic are inviting places where people tend to congregate. Whereas living next to a main road lined with gas guzzling motor vehicles create a health hazard for anyone living nearby.
Climate Impact on Properties
There is much to be said about the great property boom. Suburbs have been built and designed that are devoid of trees, open green spaces, black coloured roofs and lined with synthetic grass, all contributing to heat retention and making these local communities hot spots. In a world that is heating, do we really want to add more heat? Yes says the money hungry property developer. Unfortunately those who live in these homes will only pay more for electricity to keep their homes cool.
Sustainability and Energy Efficiency of New Homes
One advantage of buying a newly built or renovated home is that has met the most recent building standards. Such homes may have features like energy-efficient systems, fire and flood resistance built into its design. This can help with reducing electricity, maintenance, and insurance costs. The downside is having to deal with the shonky construction and quality of finish. If only those standards extended across the rest of the industry.
Spotting Home Issues
Be vigilant during property inspections. Look for water stains, peeling paint, and signs of leaks or black mould. Check for leaking pipes and recent renovations done. Renovations done by an unqualified person could actually leave you out of pocket.
Trust your nose or use a device to check for dampness in key areas like bathrooms, kitchen, laundry and the garage. High humidity levels can indicate potential damp and impact on your health. A moisture meter measures moisture on hard surfaces and a hygrometer reads the amount of humidity in the air.
Rising Insurance Costs for Homes and Getting a Property Inspection
Check the cost of insurance cost today and think about what could impact premiums in the future. Properties located near water, back onto bush lands, or are along erosion-prone coastal fringes, have a greater risk of being impacted by bushfire, flooding and king tides. There is only one way for insurance premiums to go and these costs may make protecting your home unaffordable.
