There are a few things in life that can stress you out like nothing else; The first is death, the second is divorce, and the last (but definitely not the least) is buying a house. Buying your first home is really exciting, and it marks a new beginning for you and your family. Unfortunately, it’s also incredibly complicated and expensive, especially if you’re not really sure what you’re doing. There is so much that should be done before you can move in, so if you some pointers then keep reading.
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Decide What You Want
One of the first (and most exciting) things that you need to do when you decide that you want to buy a house is decide what you want from your house. Write a list of everything that you want, and you can use this list to filter your options later on. How many bedrooms are you looking for? How big do you want the garden to be? Do you need a garage and a drive? Are there any extra features that you’re looking for, like a conservatory or a porch? What style house are you after? Where do you want your home to be located? You will need to ask yourself and answer all of these questions before you can do much else.
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Improve Your Credit
Some people save up money for decades to buy a house outright and others win a large sum of money on the lottery or another competition. If you’re not one of these people, then you’re going to need to get a mortgage. It shouldn’t be too much of a surprise that mortgage lenders want to know your financial history and circumstances before they give you any money, as they want to know that they’re going to get it back at some point. They also want to know your credit score. If your credit score isn’t great, then you’re at risk of getting less credit than you were hoping for, or just not getting any at all. It’s important to access your credit score before you speak to any lenders, and do everything you can to improve your credit score.
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Speak To An Advisor
The last thing that you want to do is get in over your head and fall in love with a house that you have no hope in heaven or hell of being able to afford, so it’s always a sensible idea to speak to a financial advisor. They will be able to give you advice on how much house you can afford, the type of mortgage that will suit you best, and will be able to let you know of any other charges, like the deposit, stamp duty, home insurance, and everything else. If you decide to use a mortgage broker, they will also give you advice on the types of mortgage that you can afford and will haggle with the lender to get you a better deal.
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Learn To Compromise
Unfortunately, you might not get exactly what you’re looking for when you buy a house, and that’s just something that you’re going to live with. You might want a large garden, but if you’re getting an extra bedroom and a park right around the corner, maybe you can settle for something a little smaller. Your budget might not be able to stretch to the en-suite bathroom that you were after, but the basement that you’re getting instead has so much potential. Work out what is necessary, rather than just what you would like, and then go from there.
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Do Your Research
Never choose a house before you’ve done a lot of research on it, and it’s surrounding areas. You might have been told that there is a school nearby, but if you don’t do further research, you could find that the school isn’t a very good one and that you have to travel to take your children to school. You should also find out how bad crime is in your area, how close you are to public transport, and if there is anything to do around your home, like a cinema or a leisure center. You also need to make sure that you view the property a few times, preferably at different times of the day.
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Speak To An Agent
You might want to find your new home yourself, but this takes a lot of hard work and research. It’s much easier to leave this to an estate agent, especially since you know that they are trained to look for great homes that suit their clients’ needs. However, you need to do much more than simply call an office; You should speak to them face to face, and make sure that they remember you. Take the list of everything that you want out of your home as well as the budget that you’re working with. If you do this, they are much more likely to remember you when a home comes up that fits what you’re looking for.
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Book A Surveyor
Home inspections are not usually required by mortgage lenders, so lot’s of home buyers, especially inexperienced ones, tend to skip a surveyor in order to save some money. This really isn’t a good idea, and is the last thing that you want to be doing if you wish to save money. The job of a chartered surveyor is to inspect the property, identify any faults, and work out its true value.If you don’t book a surveyor, you could end up spending way more than you should be on a property that’s close to falling down. There are plenty of other ways to save money when buying a house, so don’t risk it this time.
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Haggle!
If you haven’t bought a house before, then you might not know that the price that the house is advertised at doesn’t have to be the amount that you pay for it. More often than not, people advertise their homes at a higher value than it’s actually worth because they expect people to try and haggle down the cost a little bit. If your inspection revealed that the property isn’t worth the asking price or that there’s anything wrong with it, you could easily use this information to bring the price down.
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Find A Great Solicitor
Another place that you really shouldn’t try to save money is your solicitor. A great solicitor will do everything that they can to help you through the buying process, including drawing up contracts, explaining any jargon, and dealing with the stamp duty. Your solicitor might even advise you to write a will, especially if you and your partner aren’t married. Unfortunately, a great solicitor isn’t cheap, so you might have to pay a little extra to get one that will help you out a great deal.
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Ask About Fittings
There is a lot that can capture your eye when you’re looking at properties. The last thing that you want is for the thing that caught your eye to leave the house when it’s old owners do. If the garden has an amazing water feature or the living room has an interesting light fitting, as if these things are included in the price, because they often aren’t.
Buying a home is incredibly complicated, so it’s important that you plan everything properly and get as much help as you can. I hope that this advice will help you out if and when you choose to buy a home of your very own.
