Tips for first time home buyers
For first time home buyers the process can seem overwhelming and hectic! However, we hope this advice will help you navigate the property market just like an experienced buyer.
Choose the right mortgage
Finding a proper mortgage is just as crucial as finding the right property. You have to decide on the amount to borrow, and, know how much interest it will incur. It is advisable to contact a financial adviser to guide you through this sensitive stage. Alternatively to give you an idea you could try one of the online mortgage comparison sites.
Beware of hidden cost
Remember the property cost is not the only expense, there are other expenses that you must also budget for which include, but not limited to, stamp duty, solicitor’s / legal fees, insurances and furnishings.
Draw a list of requirements
Location is often key but there are many factors to think about. Do you want a house or an apartment? How many bedrooms do you need in your new home? – you may be planning a family or extending the one you have so keep this in mind. Also, consider the proximity to schools, transport links and other social amenities.
Do not hesitate to negotiate on price.
Never be afraid to negotiate. You have the right to bargain just as the seller as a right to stick to his/her price. Majority of sellers are ready to accept an offer even below the asking price when they want to make a quick sale.
Have your deposit on time
Deposits nowadays are extraordinarily high; therefore, start saving early enough. Saving a small amount regularly will pay off in the end.
Research prosperous areas
You have a higher chance of finding a good deal in an area that has experienced recent sales. Some locations are more popular than others, particularly in London. Therefore, it is vital to review the local property prices keenly, in the regions you wish to acquire a house.
Beware of rising housing house prices
To avoid negative equity, it is advisable to make a purchase when house prices are gradually rising. This way, your property will be on an appreciating mode, and you could potentially gain on the long run if you decide to sell.
When you have succeeded buying a house, you obviously look forward to moving in and making new friends. Once that time comes, we will be glad to help. If you are not sure whether to hire a removal company or try the DIY approach have a look at this article or rely on the experience we have at is more than enough to guarantee you a stress-free move. We are more than familiar with London and its surrounding Home Counties, so wherever you purchase a house, we will be able to provide you with a man in a van to help you on that special day. Contact us to discuss all of your moving concerns and questions.
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