Buying a home is probably one of the most important transactions of your life, but how do you know if a property is right for you? Should you prefer a long decision-making process, by going back to see each property several times or will your instinct tell you which house is best for you? Discover our vision of the purchasing process.
The points to be taken into account
There are many things to consider when buying a house and it goes far beyond how much you like the property. A recent survey showed that in the United Kingdom owners do a lot of researches before they even see the property for the first time. This can range from simply reading the property description to searching for the street image on Google Street View. Many buyers also do a thorough search of job opportunities, infrastructure, schools and amenities in the neighborhoods.
53% of respondents made a second visit to the property before making their decision. Even if you have fallen in love at first sight, a second visit not only allows you to see the house again at another time of day, but also gives you enough time to consider all the important issues before making a decision. 41% of respondents visited the property three or more times, while only 6% made their decision after a single visit. People can make decisions quickly when markets offer very attractive opportunities, for fear of leaving their dream home to another buyer.
Does the property correspond to the intended use?
When deciding whether or not to buy a home, you should keep in mind the type of real estate you are looking for. Your search criteria will be very different if you are considering buying a principal residence or a holiday home. School basins, distance from home and the cost of living may be among your priorities if you are looking for a principal residence, while a beautiful view and a wide choice of restaurants in the surrounding area may be more important when buying a holiday home.
Trust your intuition
All these factors are certainly very important, but buying a home is not just a list of pros and cons. Every owner wants to appreciate the property he is buying and intuition also has a role to play. A survey conducted by BMO Bank of Montreal found that two-thirds of respondents felt that the visit to the property left a positive impression on them, providing them with a compelling reason to make an offer. The first impression is therefore also the key to a successful purchase.
Ultimately, everyone will opt for a different purchasing approach, whether it is checking the list of criteria to make the right choice or relying on an emotionally driven decision.