Real World Television Programme

Buying a home is a huge investment, you should make proper preparation before purchasing a house, this is probably the most significant purchase of your life.

1. You don't have to own your home
The fundamental question is whether owning a home actually makes sense for your particular circumstances. Some people will tell you that paying rent is throwing money away, but there are many benefits to renting, particularly if you move around a lot.

2. Take the time to check out any issues with the property
Smell for mould, and animal-related odours. Knock on walls to see if they sound hollow. Open the dryer and the dishwasher – you never know if pests are living in there. Does the toilet flush properly? Does the heating/air-conditioning work? Is the flue functioning above the fireplace? Is the water pressure okay?

3. Use your head, not your heart
Don't be afraid to walk away from a bad deal. There will be other properties, maybe even better ones. Remember that this is a financial transaction and that your terms must be met.

4. Negotiate as much as you can
You can use an agent to do the negotiating for you, but you can't be sure how hard they will push for you. As a buyer, you should feel in control and as though you have nothing to lose through robust negotiation.

5. Don't let yourself feel pressured
Real estate agents are expert salespeople. They may get you to rush over to the 'perfect' property and urge you to make an offer before someone else snatches it up. If you feel rushed at all, then back away. Time is on your side.

6. Carefully consider what you can really afford
Determine your budget based on what you can afford to repay now, not the maximum you're allowed to borrow.Buy a property you can afford now, not later
Even if you're pretty certain that you'll be earning more in a year or two, you might also find that circumstances increase the other expenses in your life. Children, schools, new cars and travel plans are substantial costs. Make sure there will be room in your budget for you to live the life you want.

7. The search can take longer than you think
Don't operate on someone else's timeline and don't make commitments that will make things challenging if your property hunt takes a few months longer than you anticipated. If you're renting, stay on a month-to-month agreement so that you are able to move without penalty.

Real World Television Programme

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