'Home is where the heart is.
' This has become a cliche saying but it doesn't make it any less true. Your most important place in the world ought to be where you live. The place where you relax and sleep, as well as spend time with your loved ones. If you're currently in the process of buying a new property, you have to be pretty particular. Remember that this is where you'll live and of course, you'll want it to be up to par with your standards, right? So when you're buying a new place, look for a great location, security, parking space, and working windows, among many others.
'Where is the property located?
' This should be the first question you need to answer when you're deciding whether to buy it or not. In fact, in most cases, you stumbled upon said property because of its location. Location is key to helping you determine whether the place is worth your money or not. Especially if it's in a major city. Is the property located in a good neighborhood in Paris
? Or situated in a nice Barcelona district
? Most of the time, real estate is all about location, location, location!
The property's location often dictates what the neighbors are like too, and this is another thing you ought to look for when you plan to buy it. If you intend to make the property your new residence, remember that the people living around it will be your new neighbors. Are they good people? Are they the type of neighbors that you would appreciate? Or are they the type that you'd prefer not to live nearby? You'll only find these out if you visit the place yourself!
More than just good neighbors, you ought to look for the nearby facilities of the property too. Think laundry mats, convenient stores, restaurants, shops, and more. Another of the most important nearby facilities is public transport. If you're buying a new place in a big city, you ought to get one that's near a bus/train station or a popular area for taxis. Getting a place near a park is also a good idea, especially if you have pets. For instance, if you have a dog, wouldn't it be great if there's a park
nearby where you can take it out for a walk?
Whether you plan to live on the property or not, the security of the place should be top-notch! Let's say you're buying an apartment in New York City
. It's no secret that the crime rates here are pretty high, so the security of the apartment building should be a deciding factor. How's the security system in place? Is it effective? Are there security guards by the entrance? Once you're satisfied with the security of the place, there should be no stopping you from purchasing it.
Overall Structure and Layout
Now, let's focus on the actual property at hand. No matter what you use the place for, you should always check its overall structure and layout. Are there cracks anywhere? Is there mold growing in some places? How about the rooms? How many are there? What can you use them for? These are some questions you ought to ask yourself as you examine the property. It's even more important if you plan on buying property to rent. Depending on your target market, the overall structure and layout of the place will determine what kind of people will live on your property.
As you check the overall state of the property, make sure you check the windows. More often than not, windows are the most challenging to fix in any home. Whether it's the hinges or the glass, it's a more meticulous repair than you realize. And if you'll need to fix or downright replace them, you might spend more money than you initially bargained for. Does that constitute a worthy investment? Of course not. So before deciding to buy the property or not, check the windows first!
Any place with enough storage is worth your while (and your big bucks!). Imagine buying a luxury home in Rome
, the most populated city in Italy with over 2.8 million residents. This is your dream city so of course, you'll want to own a place for yourself here. But what if you have a lot of stuff? Since you're relocating to Rome
, you want to bring as much of your life here with your, right? And if your new property has enough room for them, then it's a great purchase!
When you buy a new property, you should always think of the many ways you might use it. Whether you're going to live there yourself or you're buying a property to rent, it's best if you're prepared for any situation. Especially if that's to ensure everyone's safety! Let's say you went with the latter and your tenants are a young family with a toddler. If the place is on the top floor and the floor-to-ceiling windows are easily accessible to children, there's a tragedy waiting to happen. And while it's the parents' responsibility to baby-proof the apartment
, it never hurts to take care of it in advance.
Let's stay on the topic of buying rental property. You never know who your tenant will be and it's highly possible that they drive their own cars. Now, wouldn't it be convenient for everyone if you bought a place with its own parking space? Or if the place itself doesn't have a designated area for vehicles—especially if it's in a big city—wouldn't be great if it's located in a residential area where people can park their cars anywhere?
How The Other Units are Used
Speaking of renting properties, are the units near the property you plan to buy up for rent? Because if they are, it can make all the difference. Surely, if you plan to make this place your new home, you won't want to live near a short-term rental, right? While there's nothing inherently wrong with that, this also means that your neighbors will change frequently. You never know what kind of people might live near you next! And if you'd prefer to have more stability with the people around you, you might want to get a place surrounded by permanent homes.
When you're planning on buying new property, there are a few things you ought to look for before deciding. Remember that you'll spend a lot of money on it so it's only natural it should live up to your standards!