When looking to make your first step up on the property ladder there are a lot of things to consider. Moving house is a stressful business and it is one of the biggest investments you will make during your lifetime.
As a new homebuyer you’ll likely be daunted by the process and the sheer scale of the purchase – and we don’t blame you. But we are here today to help you think a few things through and make the process go smoothly.
These are a few tips to help you as a first-time buyer and make your experience less stressful.
Consider buying vs renting
It is no secret that buying is cheaper than renting a home and this is down to long-term commitment. When you rent a home you are only renting the space and you never get to own your homes. When paying for a mortgage you are working your way towards owning a property and this gives you equity to use next time you move. Buying a home is a much better way to go because you are working toward ownership and investing in your future.
Look at local amenities
When looking for your ideal home it is important for you to take a step back and consider the local area it resides in. The area you are moving to needs to offer everything you need to live such as shops nearby, hospitals, schools, and other amenities. Make sure while searching for your home to check out the area and see if it is the kind of place you would want to spend the next few years of your life.
Take someone to the viewing
As a first-time buyer, going to your first home viewing can be exciting however it is very common for us to go in with rose-tinted glasses and not notice any of the issues. This is why taking your parent or a friend with you to a viewing is smart because it will allow you to go around the house and see what you like, but also be made aware of things like chips or cracks or subsidence that you may not have noticed otherwise.
Always haggle on the first offer
When making an offer on your first home it is easy to get into the thinking that you have to offer the buying price unless you won’t get it. Buying a house seldom works this way. Most people are open to offers and if you can go a little below the price for starters – for example, £5,000 – you might get lucky and snag yourself a deal. Don’t be worried if the first offer doesn’t come to fruition because often you can go back with something else and it will be accepted.
Keep documents organized
When trying to manage a house move the most important thing you should do is keep your documents handy for quick signing and filling. Contracts take time to draw up and most of the time this is due to the solicitor dragging their heels – and as a buyer, you need to be on the ball and hand everything in asap to keep the ball rolling.