Lucinda Pelfrey July 23, 2019

Buying a property on any kind is a long-drawn and financially stressful project for many a prospective homeowner. After going through that process, the last thing anyone wants is to regret the purchase. A property may seem amazing during the house tour, but later, you may start to notice problems.

No one wants to be in this position. Unlike buying a car, you can’t just return a house or an apartment you don’t like. Here are several ways to get around regrets you may have after buying a new place:

Consider Renovating

Renovations are typically reserved for older properties. However, if you’ve bought a well-used house that you no longer like, renovation should be a consideration. You can upgrade older parts of the house and modernise it overall.

Renovations, however, are not easy to do. A recurring hindrance to renovations is the local building code. If you are in a neighbourhood like Aldinga, you may want to double check local regulations on what’s allowed when you renovate a property.

A Redesign is the Budget-Friendly Option

Renovations are not suited for everyone, of course. If you are a new homeowner, you simply may not have the cash to renovate a newly-bought home. If renovations are off the table, there’s another option: redesigning.

Redesigning a new home doesn’t necessarily have to require structural changes that may not sit well with the local building code. You can change the interior look of a house you own as you like. Consider changing the wall colours, the flooring, or even the size of windows. Even a simple change like bigger windows could make a big difference in improving upon a drab property purchase.

Do a Building Inspection

You will definitely regret your purchase decision if the new home comes with mould underneath the floorboards. Things like mould, pest, and even meth contamination fall into the five things dodgy real estate agents try to hide from buyers. Don’t fall for damaged buildings. Do a building inspection right away.

You can perform the examination even after you have purchased a property. However, it might be too late to get the previous owners to finance the changes. Still, a professional building inspection could protect your health and also expensive damage repair later.

Rent It Out

Really can’t stand to live at your new place? Then give some thought to renting the place. Putting it up on the property market right away is risky. Renting could help you cover the mortgage, and even make some extra cash.

Renting is a great option in areas close to the city. There will be plenty of demand in urban areas. Even in rural areas you can find specific types of renters, such as vacationers. You can rent for several years until the time is right to sell the place.

Add New Parts

Adding a new deck, a skylight, or a shinier kitchen island may help you like your new home a bit better. The costs may vary depending on what you want. You will have to choose additions based on available budget. If the add-ons make you like the place better, then the investment would be worth it.

Without careful research and a lot of thought, your property purchase may go haywire. Still, try the above methods to set things right before it’s too late.