The Inside Edge
My partner and I recently bought our very first house; we were so pleased to get onto the property ladder! The journey to get there wasn’t completely stress free though as there were a lot of things to think about, and plenty of hurdles to jump through. We’re still not able to relax completely in our home as we have some more renovation work to do – we bought a 1970s semi-detached property that looks like it’s never been updated since then! It’s all worth it in the long run though; we can do all the decorating we like, build an extension, have a pet… So even with the struggles, I urge you to push on if you’re in a similar position and want to buy your first home. Hopefully my own tips will help you on your way; here are my top picks…
Getting a mortgage
Unless you’ve had a sudden windfall, it’s likely you’ll be getting a mortgage to fund your property purchase. There are many providers and rates, so you’ll need to compare the market to see what works best for you. In order to get a mortgage, you’ll need to raise some cash for a deposit. The amount you’ll need will differ depending on which mortgage you go for, but will usually be at least 5% of the property price. If you are looking to buy in the next couple of years, figure out how much you’ll need to save each month in order to reach your target.
Picking a property
When the process to get your mortgage is underway, you’ll be able to look at properties that match the budget you’ll have once it’s fully agreed. I looked at property aggregator sites online and then contacted the individual estate agents to arrange viewings. It’s true, you’ll generally get a feeling when the house is right, but don’t get too swayed by decorations or furniture as all of this can be different when you move in. If you love two properties, create a list of the benefits and let your head decide which one wins overall.
Getting legal advice and assistance
When you come to making an offer on a house, it can be very helpful to have the assistance of a brilliant legal team. My advice would be to do some proper research into this area rather than going with the 1st property lawyers you stumble across. You’ll want to build a good relationship with your solicitor and their team as it could help to get the process moving more quickly. You should also enquire about whether they can help you with a survey of the property as you don’t want any nasty surprises when you move in.
Finally, when it comes to moving day itself, try to stay calm. You’ll need to collect the keys and make sure your removals company can get in to the new property to unload your belongings. I won’t lie, it’s pretty exhausting, but it can be made easier by remembering little things like labelling a box with kitchen essentials such as your kettle and tea bags, as well as making your bed as soon as you can. My last tip is to have a pizza delivery number handy as you won’t feel like cooking your own dinne