3 Things to Consider when Deciding to Move Home

Claire Small's picture
Authored by Claire Small
Posted Wednesday, October 9, 2019 - 10:12pm

A successful home move usually comes from extensive planning and decision-making before you even begin to view any properties. It’s important to have a clear plan in your mind regarding what you want from your new home, including the required budget and any other restrictions which may arise. 

Below are three important questions to ask yourself when you come to search for your new home. 

Are You Renting or Buying?

Where the majority of individuals see buying a home as a more substantial investment, it’s not always the go-to option for everyone. This is the key question you need to answer before you can begin to look for a new property, and is especially fundamental if you’re selling a current property, as it will affect the timeline of the move. 

Buying a new property means you need to have a substantial deposit saved, as well as all relevant buying fees and an approved mortgage. Renting a property means you can move into your new property very quickly, with a cost of upfront rent and a small deposit often being all that is needed.

If you do decide to rent, you should choose a reputable rental firm such as Derby Letting Agency.

What are Your Future Plans?

If you’re not intending to move again, or else not looking to move for a significant period of time, then you need to view your next property with your future in mind. Does that future include the need for extra bedrooms? Outside space? A useable kitchen for a large family? Or are you looking to significantly downsize to a small property perfect for one person? Even if not relevant for any immediate plans, you should consider all future options. 

This could include:

  • The intention of having children 
  • The intention of having any pets 
  • A change of job, such as the need for a home office or extra storage space 
  • Your job security, as this will affect the maximum price you can comfortably go to when considering a new property
  • Any changes in health, such as the need to downsize to a bungalow or flat in order for stairs to be eliminated 

Are You Looking for a Project?

This is more applicable if you are buying a property instead of renting, however, it can still be applicable to a rented property where the landlord is lenient about small interior changes, such as new flooring or a paint job. 

If you want your next property ready to move into without any need for extra investment or work on your part, then you need to consider that when viewing potential new homes. However, if you’re actively seeking a project which you can make a profit from and hope to re-sell in the future, then you should view those properties which need some TLC and ensure you have extra funds saved to invest in the improvements. You should also do your research in order to ascertain whether a comfortable profit can actually be made.