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4 steps to buying your first home!!!

01 November 2019



Don’t you just dream of owning your own home? Are you excited or the day you can finally afford that first home? That said, as a fire time buyer, there’s plenty of advice out there to guide you in the right direction, so you can make that dream a reality.


If you’re ready to step onto the property ladder, but you’re feeling a bit lost when it comes to where to start. You can follow these simple steps below.


Do your homework!!!

Think before you view, it pays to sit down and consider these 3 factors:

The property itself.

Write down your priorities and flexibilities to help stay focused on your search and avoid wasting time on unsuitable properties. 

To start, decide the most you’re willing to spend. Speak to a mortgage adviser to help you find out your budget then contact an estate agent or have a look online. This will offer you a new perspective, but it will also make you a more credible purchaser when it comes to putting an offer on a property. 

Next, make a list of the necessities for your new home. This is what you can’t live without, ie, number of bedrooms, availability of outdoor space and parking, proximity to work or loved ones and the amount of decorating required. Keep in mind that the goal is to buy your first home, this doesn’t mean its forever. So, allow flexibility.


Research the area!!!

When you’ve established your property requirements, start looking for suitable properties to view. Shortlist properties, chose your top picks, weigh up advantages and disadvantages. Look around your chosen area to get a feel for the place. Could you see yourself living there? How will the area be in the future? Research its history and reputation. Are there amenities close, good public transport links, schools? Are there any new developments in the area and will they affect you? This could put pressure on existing infrastructures. 


Arrange property viewings!!!

If you’ve never viewed a property before, you may be understandably nervous. Who wouldn’t be? It’s a big step.

When you get to your desired property, look at the condition of the exterior, are there loose tiles? Cracks in the walls? Any leaks? When it comes to the property survey, you can mention any of your concerns to the surveyor. This could potentially save you thousands in the future. 

When inside, inspect the space itself. Are the rooms spacious? Is there enough access? Would your furniture fit? Look for the power sockets. Are there enough for your devices? Look at the existing appliances. Would they need replacing? Are there any problems with them? Damp can be a major issue, so check walls and ceilings for signs of condensation.

Go to several properties and make comparisons. Go for more than one viewing; this well help you assess the property more rationally.

Make an offer!!!

It’s time for you to decide. The offer is the scariest part, will it be accepted or rejected? The estate agents will guide you in the matter.  You also need to talk to a conveyancer and contact your mortgage adviser to let them know you’re ready to offer.

If the offer is accepted, you need to find a local chartered surveyor and get a survey completed. This will provide you with the information needed to make an intelligent purchase decision. 

There are 3 levels of inspection to choose from, depending on what the property needs, if you go for a home survey from RICS. Any major issues that are flagged up can then be used to renegotiate the purchase price.

When agreed on the price. Both legal teams will be the conveyancing underway. It can take from a few weeks or months for the contact to be agreed and signed. Make sure you stay in contact with your solicitor. Remember you can change your mind at any point up to the exchange of contracts. When you pay the deposit, it becomes legally binding. The balance of payment for the property is due at completion, when the ownership of the property will pass to you.