Whether you’re looking for a home to call your own or an investment property to rent out, finding a new place to reside in Southampton can be a nerve-wracking experience. You want to make the best decision possible because this could be a life-changing buy for you.
Finding a home in Southampton that has all the amenities you need is a top priority. However, as a homebuyer, your priorities may differ from those of other consumers.
Knowing what you absolutely need in a home in Southampton will make it much simpler to find that home.
What follows is a list of the eleven most important things I think you should keep in mind as you search for a home in Southampton.
1. Location
Though there may be a lot of customizable features within a home, the site is fixed. They suggest you should buy a house for its potential improvements. Expend some time exploring the various Southampton neighborhoods. Walk through them at various times of the day rather than just driving through them. Think about both weekdays and holiday options. Consider the proximity to major transit stops and thoroughfares when planning your transportation options. Consider the elementary and secondary school catchment regions if you have children or expect your tenants to have children.
2. Bedrooms
Did you know that Southampton has a total of 262,048 beds?
You certainly do now! In any case, the quantity of bedrooms in your future Southampton residence is a crucial factor to think about. The placement of the bedrooms may be problematic if you need them for your children. You may not want young children to sleep too far away from the master bedroom, or you may want them to be far away from the master bedroom if they are teens. The area of the bedroom is also a factor. Is there room for kids to have desks and closets? Is a dormitory necessary for a workplace? A house with one fewer bedroom and one more reception room could be a good option if you need a place to conduct business, and it would also be a bit cheaper. Things to think about.
3. Growth in Southampton Home Prices in the Future
How much your home appreciates in value depends on the neighborhood and the type of home you purchase. This is not the most crucial factor, but it should not be overlooked either.
There has been a wide range of price increases in Southampton real estate since 2001.
- Single-family home prices in Southampton have increased by 137.5%.
- Prices for semi-detached homes in Southampton are up 152.3%.
- The price of a terraced home or townhouse in Southampton has increased by 152.3 percent.
- The price of flats and apartments in Southampton has increased by 125.6%.
Landlords in Southampton should give careful thought to rent and income separately from other factors when calculating their return on investment. (ROI). A negative correlation between money appreciation and return is typical. (i.e. Southampton properties with higher capital growth tend to have lower rental yields). Please write me a note if you’re a Southampton landlord who has concerns about this or any other topic.
4. Total Square Footage of Your Future Home’s Interior
Prior to making a purchase, the typical homebuyer spends only five viewings, or about 20 minutes, in each home. Therefore, I suggest you have a firm grasp on the square footage of the Southampton house you need before beginning your quest. Having a sizable family means you must have sufficient financial resources to support the purchase of a suitable dwelling of sufficient size. For the most bang for your buck, go with an elder home.
It’s a good notion to find out how many square meters your prospective Southampton house has. Check the square footage by requesting a duplicate of the property’s Energy Performance Certificate in its entirety.
Utilities and property taxes for larger homes in Southampton are typically higher.
One last thing to consider is whether or not you expect your family to expand in the coming decade. What are your plans for the future of your family? Will there be more children, or will one of your parents move in with you?
5. Where you stand in terms of the cost of your next house
Southampton’s real estate market has been strong over the past year because residents have been compelled to spend more time at home. Consequently, they started looking for larger quarters… How much did they have to spend, if anything, to get that opportunity?
- A total of 1,212 single-family homes in Southampton have recently sold for an average of £469,500.
- There have been 1,101 semi-detached home sales in Southampton, with an average price of £304,100.
- The typical price of a town house or terraced home in Southampton is £258,100, with 907 such properties having recently sold.
- Six hundred and nine houses and apartments in Southampton have been sold for an average of one hundred and eighty thousand pounds.
Examine the real estate websites (like Rightmove, Boomin, Zoopla, and OnTheMarket) to find Southampton homes for sale or acquired on the pending/under contract basis. The asking prices of the Southampton properties that are sold subject to contract will give you a fair idea of the approximate prices that were actually paid. Please call or write me again if you need clarification.
6. Bathrooms
Make sure there are no water breaches in the toilet. Do the sinks leak or do the toilets discharge properly? What about mold? Moreover, is there a need for multiple?
7. Living Room or Lounge
The living area is where you’ll spend a lot of time relaxing, so it should be comfortable and convenient for you. Is an eating room required? Does the room’s layout and decor work for you? (or your tenants). Do you think fresh furniture is in order? How many outlets are there, if any? Just how nice are the rugs, exactly? That applies to any and all accommodations.
8. In-Home Central Heating In Southampton
Is there a fixed heating system, and if so, what kind is it? The EPC will detail the building’s energy efficiency and projected annual operating costs. Ask the real estate agent for a copy or get one from the government website for free; you’d be surprised how few buyers actually ask to see the complete copy of the EPC, even though they have the legal right to do so.
9. What’s On the Surface
You should give some thought to the backyard or front yard of your potential Southampton house as well before you start looking. How elaborate do you want your backyard to be? Is hassle-free upkeep something you seek? Do you wish your yard were larger? The exterior of your next house should be in equally good shape. Does the asking price cover the cost of the necessary repairs if the home is a “fixer-upper”?
10. Rooms In The Attic And Lower Level
The attic (or basement, if there is one) of a Southampton home is another area to think about. Both should be inspected for water damage that could lead to future issues, and a musty odor in the cellar or basement could indicate poor ventilation, which in turn could lead to dry rot or damp. Furthermore, the Energy Performance Certificate will indicate whether or not the attic is adequately insulated.
First-Time Buyers: Follow Our Step-by-Step Guide to Securing a Mortgage and Purchasing a Home
11. Off-Street/Garage Parking
When you count everyone in your household, how many vehicles do you have altogether? Do you have enough space in your driveway to accommodate all of them? Drive by the property in different times of day and on different days of the week to see how parking is handled. Can the garage on the land serve another purpose?
Respond to this post with your thoughts.