Buying Your First Home
Buying your first home is one of life’s great milestones, it's an enormously exciting, but sometimes daunting time. Here are some tips on what we believe will help you smoothly get onto the property ladder.
Stick To Your Budget
Before you start looking at houses, it’s important to understand exactly what you can afford each month and stick to that figure. It's very easy to get carried away and end up stretching your finances. Your home should not be a burden, you still want to be able to afford to do all the things that are important to you, life is for living after all. It’s important to bear in mind that larger homes equals larger bills, going beyond your means with mortgage payments and bills can lead to unnecessary stress further down the road. When drawing up your budget, don’t forget to factor in the costs associated with moving i.e. removal fees, solicitors’ fees, surveys, new furniture etc.The world of mortgages can be a mine field, especially when you haven’t had to consider anything like this before. To ensure you are getting the best deal available, and to take some of the stress away from you, we recommend engaging with a mortgage advisor, who can lead the way to finding the best offer for you!
A List Of ‘Must Haves’
Starting your search can certainly feel a little overwhelming, there may be hundreds of properties that pop up on your search list. It can certainly help to narrow your search down, by having a clear idea of exactly what you’re looking for. Write down a list of the ‘must haves’ for your home, this way you create the ability to compare properties. There are the obvious things to consider, such as location, proximity to local pub, garden space, secure parking … the list can go on and on. Working to a number of around 5 absolute ‘must haves’ will help you narrow down your results.
Take It All In At Viewings
Before going to a viewing, ask your estate agent for a brochure on the property and highlight any areas you want to query. Use your viewing to ask these questions, and remember to ask as many as you like! You may feel some of these are silly and trivial, but no question is a silly question when it comes to something as important as buying your first home. To make things easier, we recommend writing these questions down, it's so easy to forget what you were going to ask when you are in the moment of viewing your potential first home. Secondly, visit the property more than once, and take someone along with you, it's always worth while getting a second opinion. The first visit will give you an overall feeling and vibe for the property, the second visit will enable you to take a deeper look at those areas that may have left you with an element of doubt, or an opportunity to experience your perfect home once more, giving you the confidence that this is the right move for you.
So, you are certain you have found your perfect home, and you want make to make sure it will become yours! Just take a moment, don’t let the excitement take over you. Remember, you are in a strong position, you are a first time buyer, you are not part of a chain, YOU are a very attractive buyer. You may be aware of others viewing the property, also in a position to put in an offer, remember, stick to your figure, don’t go above it. But firstly, why not go in with a low offer? It's ok to be a little cheeky, you never know, it could pay off! The worst the agent can do is decline your offer, if so, you have room to increase.