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Economy news November 28, 2016
     

How to Buy a Forever Home

Is a ‘forever home’ a myth? There those who know exactly what they want and stick to it, no matter what, but for most of us, it will take a lot to find a property that lasts a lifetime.

If you are determined to find a home which lasts forever, here are 5 main points to consider: 

1. Flexibility
Open plan living spaces could work really well as your needs change over time as you can zone the space differently to suit your lifestyle. A dining space can soon become a children’s play area, for example. 

Think about the style of the property, not so much the décor but the structural elements. You want a property that suits you, but one that you could also suit you in 20 years. In addition, think about how your life may need to adapt – think about how older relatives would navigate your space if they needed to come and stay, it will be a good indicator of the practicality of a home.

2. Location
Finding the right home has a great deal to do with the right location. Considering your needs carefully will allow you to future-proof your home, as far as possible. Education from pre-school through to sixth form should be factored in, for example.

A lasting home will also need to be well-catered for; from bus routes to shops, the more local amenities available, the more robust your home will be for whatever circumstances appear on the horizon.

3. Costs
 
A drafty old property that’s always in need of a little mending here and there, will fritter your money away. Choose a home you can afford to fully repair if necessary, or stir towards a cost-effective home you know you can heat through the winters.

In short, for longevity find an efficient house!

4. Can you sell it?
Things change, you may want to move! Forever rarely means forever, and these days changing home isn’t so hard – getting bored with your property can easily be fixed. Ask yourself who would want to buy your home if you put it up for sale? Don’t pick, or develop, a property which is too niche and limit your options. 

End of Help to Buy

Halifax Relaxes Interest Only Criteria

Starter Home Initiative

Fee Free Mortgages