Getting on the property ladder can be difficult and people often struggle with the buying process. However, when done right and with the right property, it can give you lots of long-term benefits and security.
Here are some top tips for first-time buyers to make the process a little easier.
Sort Your Finances
Don’t jump the gun, it’s always best to discuss your money with an advisor and find a lender who can tell you how much they’re willing to lend with a mortgage in principle. You could qualify for the help-to-buy scheme if the deposit is too much, but it’s always best to research how much you’ll need – this will determine the budget of your home.
Location plays a big part in what you are likely to pay for a property. If you’ve worked out how much you could afford, you can start checking out homes on the market in various locations and pinpoint somewhere that’s within your budget e.g., a house in central London is going to be more expensive than somewhere more north.
Properties for Adding Value
Your first property isn’t always your forever home but looking at a property where you can extend things as your family grows or even to increase the property value for selling later is a good investment.
Having good transport links close by is always good, especially if you’re sociable and tend to go out often. Depending on the location you might need decent public transport over a car.
Schools are also worth considering especially if you’re planning or have a family. Having a nearby or easily accessible school can make it much easier.
Visit the Property
You should always visit the property and surrounding area more than once and at different times of the day. You need to be sure that you like all aspects and there isn’t a huge deal-breaker.
Finding the right property can be stressful, but with some patience and research, you’ll hopefully find the perfect home in no time.
If you're looking to buy and need advice, please do feel free to contact our team.
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