Thursday, 20 June 2013

What to consider when looking for your second home?

Buying a second home is ultimately something that a lot of people eventually have to do. After you have spent a while in your first home, you may need to find an alternative home for a number of reasons.

Have you outgrown your home? Some of the question you should ask yourself when considering moving home should be the following. If you find yourself answering yes to any of them, moving home may be for the best, so discovering a bit more about it should be in your best interest. New homes developer Conwy firm Beech Developments have a number of new homes perfect for your next house.

Is your family growing?
Are there people moving out?
Do you need to relocate for a new job?
Are you moving to a new location?
Do you want certain amenities or features?


What are the benefits of buying and moving my next home?

Your goals and preferences when looking to land yourself a new home are extremely unique. This means you have to be the one to lead the house hunt, using your requirements and preferences. The potential financial and personal benefits that go along with buying your next home may include:

Gaining additional space – Maybe you have outgrown your home and need more space for family, hobbies or your social life.

A more manageable space – If you wish to downsize or want to simplify your life, you may be looking to get a smaller home.

A quicker commute to a new job opportunity – Career changes may often make it necessary to move to a new area and find a new home.

Enhanced luxuries or home upgrades – Maybe you have the desire for additional amenities and upgrades in your home with additional income.

Estimate the cost of selling your current home

Before you start pricing your home, you should calculate sales costs, including;

Cost of repairs needed to maintain your home’s value.

Repairs to any leaky roofs, electrical or plumbing work

Make cosmetic improvements to increase the appeal of your home. Make your home more appealing by using new paints or landscaping.

The amount you will pay in real estate commission. Estate agents often receive commission when they help you sell your home.

If you are considering selling your home yourself, estimate your time and costs for advertising, showing the house to prospective buyers and handling negotiations.

Is there a prepayment penalty on your mortgage?

Have you planned for moving and some packing costs?


Estimate the sales price for your current home


If your home is priced realistically, you may be able to sell it faster.

Property valuators set a price by comparing a home to recently sold, nearby properties similar in square-footage, room number, age and features of the property. Should you manage to confirm a buyer for your home, you shold have lined up potential homes to move to, thus checking out new homes developer Conwy's offerings is a wise move.

Consider purchasing a home that needs renovation

When you opt for a home that requires renovation, you are often able to get them below their potential market value. This means you may be able to make some renovations and increase the value of the home, making for a positive investment, along with landing yourself a new home.