Thinking of buying a home? Nearly 400,000 people are first-time house buyers each year in the UK, but finding the perfect house to buy isn’t always an easy task. How do you find the right property, and what do you do once you’ve found your dream home? This quick guide can help.
Finding the Perfect House
As you search for the right house to buy, the first step isn’t actually looking at advertised properties. Instead, it’s thinking about what would define the right house for you. Start by thinking about the must-haves in your home. Perhaps you have a certain number of bedrooms and bathrooms you want. Maybe you want a large back garden so you have plenty of outdoor living space. Perhaps you have concerns about a home with stairs in it for accessibility reasons. Maybe you want a driveway so you don’t have to search for a parking space. No matter what you most want in a home, create a list to help you decide what your preferences look like. Make certain, though, that you rank your preferences so that as you view the various homes, you know what you most care about.
Once you’ve considered what you want in a house, it’s time to think about the location. It’s tough to change where your house is physically located, so don’t overlook this priority. Think about how close it is to work and how easy it will be for you to access it. Think, too, about how close you are to a transport hub so you can get to and from where you want to go. Additionally, consider nearby shopping and whether or not it will meet your needs. Finally, if you have children, you may want to think about access to parks and local schools.
Time to Go Shopping!
Once you’ve created a list of what matters most in a property, it’s time to begin shopping for that property. You’ll want to have a firm budget as you begin to shop, though. Experts recommend spending no more than 28% of your monthly income on your mortgage payment, and most lenders won’t approve you for a loan above that size, so set your budget accordingly.
When you know how much you can spend on a home, start by looking at the various spaces online like Rightmove and Zoopla to help you determine what you can and can’t afford. Think about your list. Is there anything you wanted in a property that you may need to cross off? You may find that some of the features you initially wanted in a home simply aren’t available in your price range, so don’t hesitate to take a few things off as you search.
After you connect with a few different properties, it’s time to contact an estate agent to do a walk-through. Set aside plenty of time on the day of your walk-through so you don’t feel rushed as you consider the property you’ve considered. As you consider the property, mark a few items off your list. What does the home you’re looking at have that you want? Does it have additional features that might be useful? Think, too, about the surrounding area. Does it seem like a good fit for you? You may even want to ask about the neighbours to find out more about what living in that space might be like.
When You Find the Home You Love
If you come across a home you love during your search, the next step is to talk to the estate agent about putting in an offer. Before you do so, make sure you’ve already talked to a mortgage lender or bank about obtaining the money you need to buy your home as some sellers may not be ready to accept your offer unless you already have a guarantee on a mortgage loan. Once your offer has been accepted, talk to your lender and hire a Conveyancer to begin handling all of the details of your sale.
Joining the property ladder is a step in the right direction, but buying a home is one of the biggest investments you’ll ever make, so choose carefully.
