Buying a house? Here’s what you must remember
Buying a house is one of the most significant milestones in life, and it can feel both exciting and overwhelming. At By Design, we understand how important it is to get it right, so here’s a friendly guide to the most important things to remember when buying your new home.
When it comes to buying a house, there seems to be an endless list of things to remember, think of and do. In this article, we have broken this down to a handy list to guide you through your house purchase.
1. Get your finances in order
Before you start searching, it’s crucial to understand what you can realistically afford. This means saving for a deposit-typically at least 5% of the property price-and factoring in additional costs like solicitor fees, survey costs, stamp duty, and moving expenses. Use mortgage calculators to estimate your monthly repayments and get a mortgage agreement in principle from a lender. This will give you a clear budget and strengthen your position when making an offer.
2. Know what you want
Make a list of your must-haves and nice-to-haves. Consider location carefully-do you want to be near schools, transport links, or green spaces? Think about the size of the property, number of bedrooms, and whether you might need space to grow your family or work from home. Don’t forget practicalities like parking, storage, and internet speed.
3. Research the market
Spend time browsing property portals to get a feel for prices in your chosen area. Register with estate agents to stay updated on new listings. Also, research local amenities, crime rates, council tax bands, and whether property prices are rising or falling.
4. View properties thoroughly
When viewing, take your time and use a checklist to avoid missing important details. Check the condition of the property inside and out, including walls, windows, plumbing, heating, and electrics. Look for signs of damp or structural issues. Ask about the Energy Performance Certificate (EPC), and if the property is leasehold, find out about ground rent and service charges.
5. Make a well considered offer
Once you find a property you love, research recent sale prices nearby to make a competitive offer. Always put your offer in writing and ask for the property to be taken off the market once accepted. Choose a reliable solicitor early to help with conveyancing and legal checks.
6. Prepare for surveys and legal checks
A survey is essential to uncover any hidden problems that could affect the property’s value or your safety. There are different types of surveys depending on the property’s age and condition. Your solicitor will also carry out searches to check for planning issues, rights of way, or environmental risks.
7. Understand the timeline and stay organised
Buying a home can take several months, especially if you’re part of a chain. Keep all your documents, mortgage offers, and correspondence organised to avoid delays. Stay in regular contact with your estate agent and solicitor to track progress and resolve any issues quickly.
Buying a house is a journey full of important decisions, but with careful planning and the right support, it can be a rewarding experience. At By Design, we’re here to guide you every step of the way, helping you find not just a house, but a home that’s perfect for you.
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