When you’re looking for that perfect place, it can be an exhausting process – especially if you want it to meet all of your expectations. If you’re hoping for a place to call home for a long time to come, you’ll need to consider your requirements now and how these may change in the future.
How to choose where to live
Arguably the biggest question is where you are looking to live? You’ll need to take into consideration your income and being able to live within your means. It includes more than just being able to repay the mortgage but also living expenses, travel and more combined.
Think of this broken down into two main areas:
Employment: will you need to consider changing your current job for a new opportunity closer to where you’re looking to buy? If so, are there many opportunities for your line of work? You might need to consider how long it will take to get to your work and change your lifestyle accordingly.
Education: whether you currently have children or planning to do so, you’ll need to consider educational opportunities for them in the location you choose.
You’ll need to consider more than just the price you will initially pay for the place. To understand the value of your future home, you’ll need to research the current home prices around those areas, the possible resale value, as well as the long-term value estimate.
Does the area provide access to shops, public transport and hospitals? Will you need to travel for your basic needs?
An important consideration is whether the place you’re looking at will suit you and your lifestyle needs. After all, if you’re planning on staying for a while, does it have what you need, whether this means the possibility to join the local sporting team or potential restaurants to visit if you’re a foodie?
Think of whether you’ll be able to continue living your life the way you want to in the new location.
If you’ve considered all of these points and there are a few suburbs that tick most of the boxes, then you’ve found the areas you should consider purchasing your home.