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10 Tips for Buying Your First Home
07 September 2018

Buying your first home can be an exciting, yet daunting experience. Luckily, we are on hand to help you every step of the way! We have put together the following 10 hints and tips that we think are essential to helping you find that perfect home, so you can get tings right from the start.

  1. Know what you can borrow. Speak to a mortgage adviser before you start looking at potential new homes and obtain an Agreement in Principle. This way, you will know exactly what your budget is and be in a position to make an offer as soon as you find the house you love!
  2. Budget, budget, budget. You will inevitably have thought about how much deposit you have, but have you considered solicitor fee’s, surveyors and moving fee’s?Once in your home, it is important to make sure you have considered everything, including home insurance and protection premiums once you exchange contacts on the property.
  3. Keep your finger on the pulse. House buying is a competitive market, by registering with estate agents and online property sites you will receive alerts which can help you secure the first opportunity in viewing a house.
  4. Arrange viewings. Make sure you go and look at houses rather than just solely relying on photographs. It can be easy to dismiss a house just from a photo, only by visiting a property will you really know if you can make it a home. You wouldn’t want to miss out on your dream home just because you don’t like the estate agent’s photography!
  5. View as many properties as it takes. This is a big life event, so it is important that you take your time, view as many properties as it takes and find what’s right for you. Rushing into the wrong property could risk costing you more money in the long term.
  6. Always have a second viewing. It is easy to fall in love with a property at first sight and make an offer after a single visit. It is important however that you view the property again as you will look in more detail and notice any areas that may need more work than you initially realised. It will also be a great opportunity to ask any questions about the property that you only thought of after your first viewing.
  7. View houses at different times of day. If you saw a house mid afternoon and liked it, drive past it in the evening to see what traffic and parking is like. Seeing what a house is like at different times of day will often help you determine if it is right for you or not.
  8. Everyone is giving you advice, who should you listen to? When you are buying a new home, everyone wants to give you advice. Unless they work in the industry, take this with a pinch of salt especially if it relates to financial matters such as your mortgage or insurance. If you have any questions or would like some advice, speak to you mortgage adviser who has the qualifications and knowledge to help you in a confidential manner.
  9. Use a local solicitor for your conveyancing. The legal process of buying a home is complex and can take time. If your solicitor is local to where you are buying, they will know the estate agent and mortgage advisers involved and you should also be able to meet them face to face. This is likely to make the whole process straight forward and will save time.
  10. Be protected. Once you have bought your new home, make sure you have some form of income protection in place to help with the mortgage payments should anything happen to you. If you don’t and something does happen, you risk losing the house you have spent so much time in turning in to your home

There you have it, 10 little tips to make the experience of buying your first home that little bit easier! If you have any questions or are ready to start looking for your first home, contact one of our experienced advisers today for a free, no obligation chat.

To start budgeting for your first home, download our free budget planner here!

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