Are you starting to think about taking that first step on the property ladder? Perhaps you have been saving hard for that deposit and now feel ready to take the plunge? Buying your first home is an exciting experience, but stepping into the unknown can be a little scary, which is why today we want to break the process down for you in our 5 tips for buying your first home.
Get some mortgage advice
The first thing to do is get some mortgage advice. You need to ensure that you are in a position to borrow the amount that you are hoping to and check that your credit history enables you to get a mortgage.
Your mortgage advisor should talk you thought the full process and they will be able to let you know how much you will need to pay back each month and over the full term of the mortgage.
Think about location
Now that you are happy that you can borrow what you need, you need to pin down the ideal location for your first home.
You might choose to be near to your work, your family or your friends. You might choose to do something completely different and set up home in a neighbourhood that you have always dreamed of living in.
Think about the reality of your chosen location. Does it fit your needs on a day to day basis and are the properties affordable to you in that area?
List your must-haves
We all have these when it comes to buying a house, so you need to write a list of your must-haves for your first home. You might be keen on it being a house, or perhaps you love the idea of apartment living. You might need a certain number of bedrooms, or it might be outside space that is key for you.
Note down those things that you want and then divide them up into things that are essential and then things that you would be willing to compromise on.
The property hunt
Armed with your preferred location and property must-haves you can begin your property hunt. While you can do a lot of this on the internet, it is always worth getting in touch with local estate agents too. Brief them on everything that you are looking for, advise them that you are a first time buyer and that you have a provisional mortgage offer in place.
Agents love a first time buyer as you can move quickly on a sale and they will let you know of any new suitable properties about to come onto the market.
When you find that perfect pad, put in your offer, and fingers crossed it will be accepted.
The practicalities
Now that you have found your home, you need to place a full mortgage application with those property details, instruct a solicitor and arrange a removals company for the big day itself, you could try https://www.mybekins.com/locations/henderson-nv-movers/
A house sale can typically take between two to four months, so work with those timescales and keep in touch with the agent and your lender and solicitor throughout the process.
Before you know it you will have those keys!
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