Eight Variant Issues To Mull Over When Choosing A Home As A First Time Buyer
Posted in Uncategorized on 09/02/2010 05:54 am byFirst time buyers are the lifeblood of the UK property market. They are the chain breakers, the drivers that can unlock a locked transaction network . It is not unheard of for a property seller to drop the price of a property if they discover that the prospective buyer is a first timer and as such are in a position to carry on with the transaction at a speedy pace, compared with someone who has a property to sell. I did this myself when I last came to Sell My House.
But being a first time buyer is quite a daunting process . When We Buy Homes it is generally the largest financial transaction we enter into and the commitment is most acutely felt by the first time buyer who may often not have the experience or knowledge of how the whole house buying process works and , quite often , feel a little bit intimidated by the whole situation.
Therefore here are some helpful pointers, do’s and don’t if you like, for smoothing the process when We Buy Houses as first time buyer.
1. First and foremost make sure that your financial situation is sustainable. Buying a home is a big commitment and We Buy Homes mostly to live in so If you aren’t going to be able to make the payments in the future then don’t enter the market. It’s not much use thinking “I need to Sell My House” fifteen months down the line.
2. Do look around for the best deal that you can get as far as mortgage finance is concerned and consider that this may not necessarily be your own bank or building society.
3. Remember that a Mortgage Advisor might well charge you fees that would not be payable if you search out a deal on your own.
4. Try to remember all the continuing fees that you will have to pay as part of your property ownership. It’s not just the mortgage, it’s the council tax, insurance, utility bills etc and whilst you may think that the mortgage on it’s own seems reasonable enough , these other cost can be real deal breakers.
5. Always view your proposed purchase with half a mind to what could happen if you had to sell up and move on. Sometimes when We Buy Houses a number of years down the line our circumstances may change and this appears to be particularly relevant to first time buyers , as they may be wanting to move to more airy or propitious accommodation sooner than they think!
6. Always do your homework when buying a property. By this I mean visit the area and the property several times before finalising the deal and do this at differing times of the day and evening. What seems like a bargain on a pleasant Sunday afternoon may look very different Monday evening when the rush hour traffic is speeding past causing the neighbour’s dog to go into a fit of maniacal barking for hours on end.
7. Try and get a good deal on your solicitor or licensed conveyancer. Shop around and use the Web , but make completely sure that you get a full breakdown of costs before entering into a commitment. And understand that not all finance companies will deal with a licensed conveyance – some will only deal with a qualified solicitor so it’s worth finding this out before you engage the services of one .
8. And finally , don’t believe everything the estate agent tells you about a property. Whilst there are recent rules in place about how an agency can describe a property it’s possibly the things that they don’t say that can catch you out.
So there it is . Eight simple rules to help oil the wheels on the first time buyers new home purchase.