Questions to ask yourself when considering moving home
February 1st, 2021
Making the decision to move home is without doubt one of the biggest you’ll make in your lifetime. Whether you do it only once or twice or whether you are happy moving every few years, it is important that you don’t make the mistake of buying a home that you’ll later regret.
Here are just a few of the questions you should ask yourself if you are thinking of moving:
Why do you want to move house?
Be very clear on this one. Really explore your motivation and once you have made the decision, you then need to detach yourself from your current home and focus on what you are looking for in your next one.
What is your budget?
Have you really explored this aspect? You may have used an online valuation tool to get an estimate of the value of your property but do bear in mind there are many factors that influence a valuation, not just what other properties sold for historically. And how much can you borrow? Always seek financial advice from an independent advisor – this initial advice should always be FREE. You may be surprised how much you can borrow and an advisor will help you figure out what is best in your situation.
Do you have the money to cover the costs of moving home – estate agent and conveyancing fees, stamp duty costs and removal fees?
These fees can add a not insignificant amount to a home move. At the time of writing, stamp duty fees are due to return to normal levels from April 2021.
Can you afford to decorate or repair a new house?
Another cost to factor in. Redecoration and unforeseen repairs. It’s a good idea to have a budget in mind for this.
Where do you want to live?
Do you want to stay in your current locality or is a complete change on the cards? Make sure you thoroughly research the area you are interested in moving to. Does the neighbourhood have good schools and local amenities? How good are the transport links? Where do you need to commute to and where do you spend your leisure time?
Will moving house make your life any better?
Seems like a daft question but really think about it. Talk it through with your family and friends and make sure you are making the right decision for the right reasons.
I’ve worked in property for many years and, having moved several times myself, can view the process from both a professional and personal stance. If you are thinking about moving and want to explore any of these questions with me, I’d be very happy to help.