As a First Time Buyer there are several things that you need to keep in mind:
1. Create a budget: Make sure you know how much you can afford and try not exceed your budget. It is important to factor in all the costs associated with buying a home such as mortgage, taxes, insurance, utilities, repairs, and maintenance costs.
2. Get a good solicitor: You will need a solicitor to help you through the legal process of buying a property, so make sure you choose a reliable and experienced one.
3. Get an agreement in principle: This will give you an idea of how much you can borrow, and will show sellers that you are serious about buying a property. This is a requirement for all Estate Agents to be able to accept an offer on any of their properties.
4. Research the housing market: Look for areas that are affordable, and are near essential amenities such as schools, shops etc. Whilst also factoring in your ideal location whether this be where you grew up, close to work or family.
5. View several properties: Don't rush into buying the first property you see. Take the time to view several properties and compare them before making a decision.
6. Check the property's condition: Inspect the property thoroughly to ensure that it is in good condition, and that there are no problems you can see initially. This will be double checked by the mortgage lender and triple checked by your surveyor should you chose to have one!
7. Negotiate on price and terms: If you're happy with a property, don't be afraid to negotiate on price. This can save you some money and make the buying process smoother. We have been negotiating on properties since we started giving mortgage advice so if you don’t feel comfortable doing this, we will more than happily take over for you.
Overall, buying a home can be a complicated complex process. However, if you do your research, and get mortgage advice when needed along with approaching the process with a clear head, you will be able to find your dream home and be enjoying a cuppa on your new couch in no time!
Having a mortgage advisor on your side, we will be able to guide you through all of the steps below. We also have a free and comprehensive First Time Buyers Guide you can take advantage of before buying your first home!
