Buying a home in Poole is one of the biggest decisions you'll have to make in life and it really is worth putting in the effort to make sure you get it right first time. Too many people make mistakes when buying a home, this can affect your well-being, be a major hassle - and be very costly.
You should only start choosing a specific property once you have actually chosen on the area in Poole you want to live in. There is no point in having the right property in the wrong area!
Planning for the long term...
If you are a first time buyer, you will probably be impatient and just want to get your foot on the property ladder with a view to moving on a couple of years. But most people end up living in their homes for many years and it is vital to factor that in. If you don’t buy a home that is future-proofed, you can end up having to move more frequently than anticipated, which will be incredibly expensive. Here are a few tips:-
Ensure you look at homes you can grow into. People tend to like having more space as they grow older.
If you are planning on having children, or possibly more children, do you have enough bedrooms, and a garden? Living at the top of a staircase might not matter now if you don’t have children, but could be an impractical barrier with a pram / toddler /shopping.
Look at properties that could have scope for conversions or changes you might make to the property in the future– you don’t have to do them all at once
Can you build into the loft /extend the rear or other undeveloped space?
Stretch yourself
Owning your own home almost always gets steadily more affordable every year you live there.
Once you have bought the furniture and carried out home improvement the costs wither away after the first few years
Unless you lose your job or stop working for another reason, you will almost certainly enjoy earnings that rise steadily year on year throughout your life
The cost of a mortgage does not increase year on year, varying at most with interest rates. That means that your mortgage will get steadily more affordable as a proportion of your income year by year
Barring personal setbacks, a property that was difficult to afford when you bought it will almost always be more easily affordable five years later
Think about the trade-offs
You are unlikely to find a property in Poole that ticks every single box unless you win the lottery, so you will have to make some trade-offs. Turn those trade-offs into opportunities:
Being next to a busy road usually reduces property asking prices, but if the noise doesn’t bother you then it could be an opportunity
Many people don’t want to live right next to a school because of the noise from the playground, but if you are always out in school hours it won’t matter
You pay a big premium for off-street parking, and it reduces car insurance costs, but do you really want it?
People will often spend more for a garden, but if you aren’t that bothered, then it won’t be money well spent
If you don’t have a huge budget and want to live centrally, living in a flat above a shop could prove perfect
Focus on the fundamentals
Make sure you distinguish between what is superficial and what is fundamental. For example:
You can change the colour scheme easily, but there is nothing you can do about the total floor area in a first floor flat
Can you envisage developing the property over the years – is there room for extensions, or loft conversions?
Ugly features might depress the value, but can be very cheap to remove
Changing narrow corridors or awkwardly shaped rooms can be impossible
Learn everything you can about the property
Once you have your eye on a property, learn as much as you can about it.
Ask the estate agent smart questions about the property.
When you go to view the property, make sure you check out the right things.
Rival estate agents will often dish the dirt on a property, particularly if they have previously had it on their books and failed to sell it
Sometimes you can contact previous owners, who no longer have a vested interest in talking it up – this can be particularly informative if you suspect there might be problems with it
Ask the neighbours. Knock on their door and tell them you are thinking of buying the house next to them – most people will be delighted to speak to prospective new neighbours. If they aren’t, that tells you something too
Protect yourself from estate agents
The only person who can really look out for your interests is you. The vast majority of estate agents are honest, but you should remember they work for the seller and want you to pay as much as possible.
some estate agents “test the market”, putting overinflated prices to see if anyone goes for it
some clients insist their agents put their home on the market at excessively optimistic prices
the only way you can be confident of not paying over the odds is to become an expert on the local market
regularly check property websites, and go and see as many properties as possible – you will become better informed, and increase the chance of finding somewhere perfect
If you need any help or advice when buying a property in Poole give us a call, even if you have found a perfect property through another agent and just want an independent opinion get in touch on 01202 621900 or if you would like to register to receive updates on new properties for sale in Poole click HERE