Buying a home can be one of the most rewarding decisions in your life and a significant wealth creator. Having a clear idea of what you want and what you can afford will help reduce stress surrounding the decision and enable you to pick the right home for your family.
We’ve compiled our tips to help you find out more about selecting the right property to call home in 2025.
Define What ‘Dream Home’ Means to You
More factors make a home perfect for your family beyond square footage and postcode. Consider the life you want to lead and the size of your family before you decide on the number of bedrooms, garden space, parking, and architectural style.
The aesthetics of your home will significantly impact how you feel about living there. If you prefer period charm, you’ll be better suited to a Victorian terrace in a historic neighbourhood. Remote or hybrid workers need space to work from home, so look for a property with a spare bedroom you could use as an office if you don’t need to commute to your workplace.
Understand Your Budget and Get Mortgage Ready
You’ll need to take an honest look at your financial situation before rushing into putting an offer down on a house. Review your monthly income, outgoings, and savings, as well as your credit score. It will affect your mortgage eligibility, so it’s worth checking and improving over a few months if necessary.
Once you’ve determined your budget, consult with a mortgage advisor or lender. They’ll help you understand how much you can borrow and what your monthly payment figures will be. Adjustments to the Bank of England’s base rate can impact your mortgage availability, with higher interest rates potentially resulting in lower borrowing limits or more stringent repayment terms.
Research the Right Areas — Not Just the Property
A house might be perfect, but if the area doesn’t suit your lifestyle, it won’t feel inviting. Take the time to research the local neighbourhood, considering factors such as the school quality and catchment areas, commute times and transport links to the office, crime rates, future development plans, and access to parks and shops.
You may want to prioritise access to green spaces and modern amenities. Newly built communities can offer excellent connections to local cities and towns, with everything you need within easy reach of your home. For those seeking proximity to the countryside and convenient transport links to Bristol, new-build homes in Taunton offer a good energy-efficient option.
Be Strategic with Viewings and Offers
Get a mortgage in principle before any viewings. It demonstrates your financial readiness to both the estate agent and the seller and will increase your chances of securing a house. You should research the local market by looking at asking prices and sold prices of comparable properties before deciding to make an offer.
When you’ve decided to make an offer, start with a price slightly below the asking amount. Estate agents often negotiate, so be ready to adjust your offer and avoid coming across as too eager. Try not to overpay unless it’s absolutely necessary. However, you should be open to paying a fair price that’s a bit higher than your initial offer if it means securing the house.
