The prospect of owning your first home is exciting but far too many homeowners rush into making their first purchase without first educating themselves on what to look out for, thinking that as long as it looks like your dream home, it is your dream home. It is hardly as simple as that, there are many factors to consider to ensure that you are purchasing a piece of real estate that will stand the test of time.

Look at the environment

What many people overlook when purchasing their first home is the environment - sure many people might take neighbourhood into consideration, but rarely, if ever, do people look at what the land is prone to, whether droughts or floods or fires. If you do end up purchasing a house near the outback or just somewhere prone to bushfires, you might want to make sure your property comes with bushfire-proof shutters.

Shop for a fixer upper

Instead of getting a home that is everything you could ever hope for and more, opt instead for a fixer upper. It might save you tens of thousands in the long run, but only if you pick wisely. Certain houses look in very bad shape but only requires some minor fixing such as a paint job, a kitchen upgrade or bigger windows to update the whole look and breathe some life into the aesthetics of the home. Some houses are very aesthetically pleasing to begin with, but there might be serious underlying issues such as termite infestation, mold or simply poor planning in terms of layout which will require quite a bit of work - and money - to rectify.

Steering clear of haunted houses

While this may seem a bit unconventional, it is something worth looking into. However, a recent survey showed that Millennials are happy to deal with supernatural beings if it means they can close on an apartment at a cheaper rate, in a nicer neighbourhood, or with a bigger backyard, but if you aren’t that keen, you should check your building’s history before committing to it. It’s not mandatory in a lot of states to reveal murders, suicides or paranormal activity in a house, but you can check with a real estate attorney for the full picture. You can also simply run the address or area through Google and see what kind of news turn up - this way you will also be given insight on the neighbourhood. You can even search to see whether your house is built on a cemetery or mass burial site, locales that generally attract supernatural forces.

Get to know the people

Lastly, you should talk to the neighbours and introduce yourself as a potential neighbour who is interested in joining them. You can take this opportunity to ask about the history of the house, too. Whether you believe in ghosts or not, at the end of the day, you will be staying in that neighbourhood, and if you’re to stay in a place for a long time, it’s nice to be friendly with those that stay close because a house can’t be a home if you don’t feel welcomed.