7 Questions to Keep in Mind When Buying a Freestanding House

Whether you’re upgrading from apartment living or moving into your very first home, buying a freestanding house is an exciting and significant milestone. 

Yet as tempting as it can be to dive straight in once you’ve found your dream property, it’s important to do your research and consider a range of factors before going ahead with your purchase.

If you’re thinking of buying a freestanding house, consider these questions so that you make good choices on your property-buying journey.

1. Where is the house located?

The location of your freestanding house is a key factor in determining whether it’s a good choice for you. 

Look into the proximity of the property to important amenities such as shops, schools, and public transport, as well as specific facilities that you and your family may need. 

In addition, do your research into the neighbourhood itself, considering factors such as safety, accessibility, and property appreciation trends.

2. Is a single or double-storey house more suitable?

When considering buying a freestanding house, you should think about the size and layout of the property, and how this suits your needs and lifestyle.

A single-storey house may mean a smaller overall area but could be more suitable for people with limited mobility, such as elderly residents. Alternatively, opting for a double-storey house can give you more room to spread out and have flexibility in terms of layout.

Think about the current requirements of you and your family, as well as how your needs may change in the future. 

3. Did the building inspection reveal any issues?

As with any property purchase, a thorough building inspection is a critical consideration before deciding to buy a freestanding house. 

This inspection should cover both the interior and exterior of the property, as well as any additional structures such as garages or sheds. In addition, be sure to conduct a pest inspection to check for any infestations or issues.

While a building inspection may seem like yet another expense, being aware of potential problems with the property can offer valuable peace of mind in the long run.

4. Does the property fit with your budget?

Before you embark on your property search, you’ll need to be clear on your budget and how much you could be eligible to borrow so you can narrow down your hunt for a dream home.

As well as determining how much you can afford to spend, you should take into account those ‘hidden extras’ such as stamp duty, legal fees, and ongoing maintenance costs.

Getting conditional approval for a home loan prior to starting your property search can help to establish your affordability, and expedite the buying process once you reach the next stage.

5. What is the potential for future growth?

Most of us tend to fall in love with a property based on how it meets our current needs, but thinking about the property’s future resale value can help you make a smart investment decision.

This will involve conducting research into factors like historical sales data, market demand, and any planned development in the area, to better understand the potential for growth.

By choosing a freestanding home in a desirable location with strong growth prospects, you can secure an investment that can serve you well now and in the future.

6. Does it have access to outdoor spaces?

While you may be thinking about what lies within the four walls of your freestanding house, it’s also important to consider its access to outdoor space, which can impact on your quality of life.

Think about the size and layout of your backyard, and how it suits the needs of you and your family, and practical and lifestyle considerations such as landscaping or outdoor entertaining areas.

Beyond the property itself, explore its proximity of community facilities such as parks, recreational areas, and nature access, all of which can offer valuable spaces in which to relax and enjoy life outdoors.

7. Have you looked into the legal considerations?

Finally, be sure to consider the legal considerations around the purchase of a freestanding property. This includes conducting thorough due diligence on the property, reviewing zoning laws and planning regulations, and ensuring all necessary paperwork is in order before proceeding with the purchase. 

You’ll likely need to chat with a legal expert or conveyancer at this stage, as these professionals can help guide you through the process and make for a smooth purchase.

As you can see, buying a freestanding house is a big decision that comes with its own set of considerations - but with some forward planning and research, you can make a smart property choice that suits you and your family.

Looking to learn more about the home-buying process? Check out our series of buy a home articles. 

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should seek financial advice before making any decision based on this information.‍

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