Buying a PropertyCallum Persaud

Location• This all depends on your needs for example if you have a family then you

might want somewhere near good schools and in a quiet area, but not too far from inner city benefits.

• If you’re a working single person you may want somewhere in the city closer to public transport connections or perhaps somewhere closer to all the bars and clubs.

• If you’re retired you would most likely want somewhere quite up in the hills away from it all where you can just relax.

Buying or renting• Perhaps buying a house isn’t the right thing for you at this moment in time and maybe you

should consider renting.• There are two reasons you would rent the first is the cost, buying a house is a big investment

and it might benefit you to rent a property until you can afford somewhere better.• If you can’t stay put for at least a few years then maybe you should consider renting for now.

With the transaction costs of buying and selling you would probably end up losing money.

Make sure you can afford your home

• As tempting as it may be don’t go for a house that you can’t realistically afford to buy.• The general rule is that you should buy somewhere worth two-and-half times your

annual salary. • There are calculators you can use online which will give you a greater perspective of

what you can really afford.

Seek professional help• Despite the thousands of listings available on the internet it is still a good

idea to hire an estate agent, especially if you’re a first time buyer. • Look for someone who you think would have your best interests at heart and

would do whatever they can to get the best home possible for you.• Also you will want a good property solicitor to handle any legal matters that

may come your way.