Buying a home is said to be one of the most stressful things we will ever do, so getting it right is essential to saving time and money, so here is our guide to making sure you get it right:
• Make sure your finances are in order - to help you do this you can seek the advice of a financial advisor. Lenders take into consideration all of your expenditure so make sure you take a list of what you spend on food, clothing, eating out, travel costs, utility bills and current rent/mortgage payments, holidays – everything. The lender will look at the last three months bank statements, with some going back six months – you will need to be able to explain irregular payments and ideally keep within any arranged overdraft facility.
• Once you have established how much you can afford make sure you stick to your budget, there is nothing worse than falling for a property and not being able to afford to buy it.
• Where to buy…if you are considering a move to a new area then you will need to take various aspects into consideration, will you be near family and friends, can you travel to work, if you have children what are the schools like, if you work from home check out the internet. It’s a good idea to meet some of the people in your new area, check out the local post office and pubs to see what the locals are like. Check out notice boards to see how active an area is.
• Don’t be forced into a making a decision too quickly, even if you feel pressured by an active housing market. Make sure you weigh up the pros and cons of a property, asking your parents or friends to come with you for a viewing if you are unsure. However make sure you don’t take too much time as well, because you might miss out on your house purchase – time is always of the essence when buying.
• Make sure you have a flexible approach to home buying. There’s nothing worse than being too inflexible, make sure you look at properties within your price range which you might not usually consider, because you might miss out on the perfect house for you. Make sure you view properties in the flesh and not just on-line as you might have a different impression of them in real life – it’s very hard to get an impression of location for example.
• Use a traditional estate agent, rather than an on-line one when it comes to negotiating. This is the part where most sales will fall through, so stick to an agent like Goodfellows who has an experienced negotiating team.
If you would like any more help and advice why not pop into Finch & Co or call our team on 020 8946 6511.