If you’re interested in moving house, you may be wondering when the right time is to buy a new home. Here are some ways you’ll know it’s the right time:
You’re lusting over a particular neighbourhood or school district
If you’ve decided you want to live in a particular area, it could be a good idea to think about moving house. If you want your family to be living in a specific part of town, or want to send your kids to a good school, you may want to move now and create stability for your family’s future.
Your family size will change
Sometimes people decide to buy a new home because they’ve realised they don’t have enough space for the number of people at home. Maybe you’re thinking about adding to your family, and want extra bedrooms for future children, or you often have family to stay and you need more space. Perhaps your kids are moving out, and you’ll feel silly having too much space, which can be a good time to downsize to a smaller house in a better location.
You want more control of your surroundings and environment
If you’re renting and you find you constantly dream about changing the house you’re living in, renovating the bathrooms, adding a swimming pool, or simply updating the carpet, it’s a good sign you should consider buying your own home.
Most landlords don’t allow many changes to the property, and they’re unlikely to pay you to do the refurbishments yourself. That means in the event that they allow you to make changes, you’re simply adding to the value of someone else’s house.
If you own your own home you have the freedom to change it however you please, and don’t need to answer to anyone. Any changes you make are likely to be an investment in the property which will pay off when you decide to sell up.
You can afford the financial commitment
Some people have the amount they need for a house deposit, but they spend years waiting and justifying why it isn’t “the right time”. Property is an investment, and your money is much more likely to grow if you have it tied up in a house.
If you can meet your mortgage repayments and have a deposit, check out the wide array of mortgages from NPBS, and make a good financial decision for the financial future of you and your family.
You fall in love with a house
Maybe you’ve been wandering into open homes, or checking out auctions on your day off. Or you’ve been looking online at different houses, and found one you think you can’t live without.
If you’ve had your eye on a property for a long time, and it’s been sitting on the market or the owners have just decided to sell it, you should take it as a sign. Be sure to look at what the market is doing, and if you can see yourself living in that house, make an offer and hope for the best.
