Are you starting to look for your first home? Chances are you’re currently feeling both excited and nervous which is totally natural. Here are some top tips on how to navigate purchasing your first home.
Be realistic
It’s very easy to get carried away when you first start thinking about buying a property. Whilst this can be fun, it can also lead to upset further along in the process. Speak with a mortgage advisor to establish exactly how much you are going to be able to afford.
As well as knowing this, it is also useful to establish how much time and money you are able to dedicate to the move and possible renovations. Keep this in mind throughout your search. If your budget is £180K, don’t view homes that start at £200K. If you need to move and settle quickly, don’t be looking at houses that require completely gutting and starting from scratch.
Being realistic will allow your move process to be smoother and less stressful.
Be open-minded
When house hunting, we often fall into the trap of being closed off to things we don’t know. Doing this could mean that you miss out on really good properties. Be sure to remain open-minded throughout the process. Be sure to view new houses and older properties, explore areas you haven’t previously considered, and look past the current owner’s design choices that can be changed.
Keeping an open mind will mean you are able to view and consider a much wider range of homes which could result in your finding a hidden gem.
Be proactive
As overwhelming as the home buying process can be, it is crucial in today’s market to remain proactive. Securing a mortgage in principle early on will stand you in a good position to put an offer in on a house very quickly after a viewing.
As well as this, it is good to register your preferences both digitally and in person. Create accounts on different sites such as Rightmove and Zoopla and set up alerts for properties that meet your criteria. It is also useful to let local estate agents know what it is that you’re looking for, that way they may be able to notify you about new homes before they even come on the market.
Being proactive means you are more likely to secure a house quicker.
Be brave
Being a first-time buyer can be very intimidating, and it often feels as though the people you may be bidding against are far more knowledgeable and experienced than you. Try to put these thoughts aside and be brave both when viewing and when making any offers.
Before you begin viewing houses, prepare a list of questions ahead of time so you don’t forget to ask anything important. Asking these questions and finding out more information about the house can often give you leverage to negotiate a better price.
When putting in an offer, don’t be afraid to offer slightly under the asking price if you think it is reasonable. Remember that as a first-time buyer you are favourable to sellers as you aren’t in a chain.
Being brave will mean you may get the house you want at a better price.
Top tips for first-time buyers is a featured post
