Maximising your budget might seem impossible; after all, a
downstairs WC is a must, and you’ve always hoped for a driveway. But are these
wants and desires preventing you from finding something you can actually
afford?
Like everything else in life, buying a property needs a bit of
compromise. You don’t have to bin your dreams of a garage or home office; you
just need to think outside the box.
In this quick read, we look at ways to maximise your budget and
get the home you’ve always wanted.
Be real
Before you start house-hunting, jot down a list of things you
must have and things that you’d like but aren’t necessary. This may help open
you up to properties you might not have previously considered viewing.
Location
If you’re driven by location, you’re always going to be limited
in choice and price. Can you look beyond the area? Could you get more for your
money if you extended your search? And in a time where WFH is the new norm,
changing location could really help you save some pennies.
Get DIY ready
A property that’s perfect in every way will have a much higher
asking price. Those kitchen appliances may be shiny and new, and the rainfall
shower may look luxurious, but they will add to the purchase price.
Save money by looking at homes that need a bit of work. You
don’t need to commit to a huge renovation project, but taking on some work
yourself could mean you pay less upfront.
Look to the future
Ok, you wanted a big kitchen and were hoping for an extra room
downstairs, but do you need these things right now? Look into properties that
have the potential to extend (outwards and upwards), and this can be something
you do later. You’ll be adding value by increasing square footage, so you can
reap the benefits if you ever decide to sell. Also, check if there are
permitted development rights which can save the hassle of a future planning
application.
Buy what you need
Be wise with your budget, don’t pay out for things you just
don’t need. A huge garden is a great idea, but not if you’re going to struggle
to maintain it. Similarly, paying a premium for being close to transport links
may be unnecessary if you work from home. Don’t get tempted by extras that tip
your budget over the edge.
If you’re looking for a new home, call us at Ridgewater Sales and Lettings. We’ll help you
find something within your budget.