Buying your first property? Check out these top tips....
Buying your first property? Check out these top tips....
In today’s video, I’m going to run through four top tips for buying your first home.
Viewing the property
When you go to view a property, make sure you take your time and have a good look round. It’s always a good idea to ask questions, so take the time to think of some beforehand.
If the current occupiers are present at the viewing, ask them about the local area, and what the neighbours are like.
It’s also well worth visiting the property more than once – don’t decide to put in an offer after only one viewing.
Be wary of the estate agent
If you do decide to put an offer in for a property, be wary if the estate agent appears reluctant to accept it. Often you will find the estate agent will tell you someone else is keen to buy the property, but if you’re prepared to raise your offer and pay full price, it’s yours.
The estate agent is, of course, likely to be preying on your fears of losing the property, so stick to your guns and don’t let the estate agent persuade you otherwise!
Don’t forget the hidden costs!
Buying a property is very expensive. Not only do you have to pay for the property itself, but you will also need to budget for a whole range of other costs. These include solicitor’s fees, stamp duty, valuation fees and so on.
So make sure you sit down and work out how much each of these will come to.
Getting your mortgage
When you’re shopping around for your mortgage, you will need to request a decision in principle from the lender. However, you may find the lender decides to run a credit check. Therefore, if you go to several lenders, every time this happens, a footprint will be left on your credit report.
The best way to avoid this is to ensure you don’t apply for too many deals. You can also keep an eye on your credit report with Experian.
And if you’re looking for a mortgage for your first home, don’t forget to check out the lovemoney.com online mortgage service for guidance.