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Sep 6, 2019 · Move IQ – tips for buying, renting, selling and moving home. Conveyancing Association – more information on the legal aspects of the home buying and selling process
Jan 4, 2023 · 50+ House Buying Tips: How to buy a new property, including first time buyer tricks, solicitors, removals, surveyors & more with MoneySavingExpert.
- Get a rough idea of the timescale you're looking at. A typical timeline for a purchase in England, Wales and Northern Ireland is below. Be mindful though that timescales vary depending on the buyer's and seller's circumstances, plus conveyancing problems can arise and add delays.
- Can you afford the property you want? There's no point getting excited about the property of your dreams if you've no idea whether you can afford it. Avoid unnecessary disappointment and, if you haven't already, read our How much can I borrow?
- Find your dream home. Now you're really ready to house hunt. Make sure you read the 23 property search tips guide to help you find 'the one'.
- Make the right offer. If you're wringing your hands over how much to offer, consider asking the MoneySavers on the House Buying, Selling & Renting forum thread.
- Preparing to sell your home. If you’re not a first-time buyer, selling your home before you start searching for your next property will put you in a strong position as a buyer.
- Saving for a deposit. When you’re saving for a deposit, it’s really helpful to plan your monthly spending budget, and aim to save a regular sum each month.
- Getting mortgage ready. You’ll want your credit report to be in the best possible shape before a lender looks at it. Credit reports provide an insight into your payment behaviour – and lenders use them as part of their decision-making process.
- Work out your budget. Buying a property is a big step involving a substantial long-term financial commitment, so really consider what you can afford. You’ll need to take into account the assets you have – like savings – as well as the money that’s coming in and going out.
- Not having an agreement in principle. Before you start viewing properties, you’ll need to get an idea of how much you might be able to borrow from the bank or building society.
- Only looking at superficial details. Even if a property looks amazing at first glance, it’s important to check for problems that might be expensive to fix. ‘
- Not researching the area. If you’ve found your dream home in a location you don’t know well, research the area fully before putting in an offer. After all, your potential new neighbourhood can be just as important as the home itself.
- Not negotiating on the price. Once you’re ready to put in an offer, don’t be afraid to haggle down the asking price. It’s important not to go too low, but if you’ve done your research and found neighbouring properties have gone for less, you can use this to your advantage to see if the sellers will lower the price.
11 costly mistakes every first-time buyer should avoid. Don't get caught out when buying your first home. BH. Brean Horne. Venturing into the property market as a first-time buyer can be a challenging ordeal - especially if you run into one of the common pitfalls that await aspiring homeowners.
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Feb 2, 2024 · 1. Save a mortgage deposit. 2. Find out how much you can borrow. 3. Research your chosen area. 4. Apply for a mortgage agreement in principle. 5. Register with estate agents. 6. View properties in person. 7. Make an offer. View more links. Step-by-step guide to buying a home.
