Buying a house is always one of the most beautiful moments of life, having a place where we feel safe, at home, happy, whether alone, with family or friends, so it must also be a moment of reflection and awareness of the responsibilities that are inherent to the decision, and this is where the mortgagecalculator.uk will help you.
The purchase of my first house was for me one of the happiest moments in life, the desire to have something of my own, even if I had to pay the loan to the bank every month, of course having bought the house with my wife, was a unique moment.
It was a conscious but also an impulsive decision, I confess that I was not aware of all the expenses associated with this purchase, payments to the state, expenses inherent to the use but also insurance and works.
If I bought a house now, maybe my choices would be different, but at least they would be more informed and aware, that’s why I was delighted to discover the site mortgagecalculator.uk, an informative site with a lot of information about buying a house and a calculator that allows you to know what kind of values are associated with the purchase of a house so that the buy it not a nightmare in our budget, but a dream that you call home.
According to investopedia.com, it is normal to ask the question, if ‘you feel like you’re ready to buy a house, the first question you’re likely to ask yourself is “how much can I afford?” Answering that question means taking a look at a number of factors.‘
Numbers are indeed very important, as they will determine what we can buy, ‘Before you snap up that seemingly great buy on a home, learn how to analyze what “affordability” means. You’ll need to consider various factors ranging from the debt-to-income (DTI) ratio to mortgage rates.‘
The UK government also stresses several criteria to keep in mind when looking for a home to buy.
- affordability – what can you afford to spend on a property?
- location – the region or town you want to live in, and you may also wish to consider the feel of the area (quiet roads or social spaces) and amenities of the immediate neighbourhood (local shops, doctors’ surgery, schools etc.) There are a number of sites online where you can find out more about local area
- transport links – you should check your commute to and from work and/or school, using public transport or otherwise.
- flat or house – flats are nearly always leasehold so you will pay a regular service charge and you may have to renew the lease. More information on purchasing a leasehold property can be found in the How to lease guide.
- new build or second-hand – new builds can be appealing as they will be clean and energy-efficient, and you may be able to make some decisions about fixtures and fittings (e.g. kitchen cabinets, tiling, lighting etc.). However, new builds may be more expensive than a similar second-hand home – this is known as the ‘new-build premium’. Second-hand homes can provide more opportunities for improvements to tailor it to what you need and allow you to add value to the property.
- the number of bedrooms – consider how many bedrooms you need now and how many you may need in the future.
- energy performance – how is the property’s energy performance? What would need to be done to improve it? This information can be found on the property’s Energy Performance Certificate or EPC although certain properties (usually historic buildings) are exempt from providing EPCs.
- amount of living space – think about your lifestyle and storage needs – do you have a bike or a pram? Where is it going to go?
- internet speed – do you need fast internet for work or leisure?
- car parking – if available, is parking on-street, on a drive, or in a garage; and are there any parking permit costs?
- scope for extending – would you be able to extend the property or convert the loft or garage to make more space?
- garden – do you want an outside space? How much maintenance are you able and willing to do? Would space be yours or would it be shared with other properties?
- conservation area or listed building status – check if the property is included on the National Heritage list as this may affect your ability to make changes to both inside and outside the property. Such properties may qualify for Energy Performance Certificate exemption – more details can be found on the government’s website.
- condition – some properties are immaculate and need no work; others may need updating and some may need considerable renovation or repair. You should think about how much time and energy you have to make the necessary repairs.
- drawbacks – properties on busy roads, backing on to railway lines, or located some distance from shops and public transport routes are often cheaper. You should make sure you are happy to make any compromises before you buy. These properties may also take longer to resell.
You should find out as much as you can about any properties you are interested in to help you decide which, if any, to buy.
mortgagecalculator.uk will not find your dream home but will help you do the math.