A lot of people dream of investing in property, whether it’s a place for you to live, a holiday home or a second place to generate a rental income. Here’s a little look at a few things to consider when dreaming of investing in property.
These tips will hopefully guide any of you looking to invest in your first property. Perhaps this fabulous interior by designer Mark Sikes might fuel your imagination too. Thinking of investing in property but feeling overwhelmed? Like you really don’t know where to start? Let’s take deep breath and review some ideas that may help to inspire your journey…
When you start thinking about buying a place you can call home you may be tempted to make yourself a hot cup of coco and begin trawling the internet in search of the ideal property. You probably want to see what’s on the market and within your price range. However this can negatively impact on your chances of making that clean break. Alternatively, begin by working out in your own heart and mind what things are most important.
List your priorities in order of importance. What exactly do you want from your new place? More room? an outside area? an office area? secure parking space, maybe good rail links? or local amenities. Good schools and a good G.P’s surgery if you have children. If you work out what it is that is important about your new home you can narrow your search and make it feel less overwhelming. Try to be realistic and flexible, try not to be too rigid. Be willing to compromise.
Set A Budget
The next step, make sure you have a realistic budget set aside for the whole process. The actual cost of the move and what it is going to cost to make the new place into the space of your dreams. Maybe you need to contemplate a hdb resale price, or work out what you can actually afford. Either way, you need to work out an accurate budget to spend here and set about the task of putting those funds in place.
Next, it is time to start your search. Get online. Speak to estate agents. See what possibilities are on the market that fit your criteria. Take your time and have patience. Choosing a new home is going to be a big step. Make sure you get it right. Everyone will have a different set of priorities here. If you know what yours are it is going to be a big advantage. Don’t expect to find the perfect home straight away.
Prepare For The Move
Be ready for the move. The next big step is that when you are ready to move you really are ready to get things moving. Get organised. Know exactly what you are going to need and put it all in place. You really don’t want everything else to be ready to go except you. Start arranging the move early and you’ll feel calmer and clearer on what is going to happen. If you are organised it is going to be easier to get excited about the move. Hire some help to make the practicalities easier. Don’t underestimate what is involved. The physical demands of moving can be exhausting.
So, finally you are in your new home. You may feel like the emotional and physical stress of moving has taken the wind out of your sails. You may not feel like doing much other than curling up on the sofa in your new home. Not so fast. What were the plans you had for your new home?
If it involves making any physical changes why not get them underway straight away. Don’t put off making your new home your new dream home.
Finally, you will want feel settled in your new home as soon as possible. Even if you are making lots of physical changes and parts of the home look more like a building site for a short period. You’ll still want a place that feels like home.
You can settle in emotionally and mentally as well. Invite your new neighbours around so you can introduce yourselves properly. Join the local historical society or gardening club. Find a local yoga class or knitting group. Make new friends and join in with your new community. All of these things will help to make your new home really feel like your own. Embrace your new life.
“Home is the nicest word there is.” –