Whether you are buying your first ever home and about to get your foot on the property ladder or you are in the process of selling your old home to replace it with a larger one when you find that perfect home, you know. It’s like falling in love when you meet the one, you just know.
Of course, that being said, buying a property is a massive financial commitment, which is why it’s important to be careful about how you progress with the sale, making sure to protect yourself and your finances at every step. There is a common misconception that finding a home that you love is the problem when actually it is the buying process itself which is a nightmare to navigate.
To make the process of getting your hands on your dream home easier, and protecting your finances as you navigate through the complex process of home ownership, below are some tips and pieces of advice to take note of.
Call your mortgage provider
If you are house hunting, then the chances are that you have already got a mortgage in place. Before doing anything, it’s worth giving your mortgage provider a call, to ensure that you can use your mortgage at any time. Once they have confirmed that your mortgage is ready to be used, you can then relax and begin dealing with the rest of the buying process.
Get a survey done on the property
Before you do anything else, it is vital to organise a survey of the property. To make sure that there are not any issues that the owners haven’t disclosed, it is a good idea to hire a surveyor to survey the property and determine how ‘healthy’ it is. This may come at an additional cost, but if you want to ensure that you are getting a good deal, it is vital to get the property checked over. The last thing you want is to buy it, only to find that it has serious problems, like penetrating damp, for instance.
Take another look around
The next step is to take another look around the property, checking every nook and cranny, to ensure that it’s what you want it to be. Are the rooms as big as you have built them up to be? Is the property light enough? Is the garden large enough? Be critical – remember, if you buy this property it will be your home for the next few years, so it is vital that it’s the ideal place for you. You don’t want to end up regretting your purchase, do you?
Work with a conveyancing specialist
As part of the buying process, you will need a property conveyancing solicitor. When it comes to choosing a good solicitor, take the time to research the options in your area, making sure to pick a specialist who is well known and who has a good reputation. It’s also important to know how much you can expect to pay, to make sure that you don’t end up with a hefty bill that you didn’t expect.
Make an offer
Once you have got everything else in order, the next step is to make an offer on the property. This is the scary part as you don’t have any idea whether your offer will be expected or whether the owner will turn it down. It’s best to start by offering a lower amount than you are willing to pay, as that way there is room for negotiation. Never start high, as otherwise there is no room for negotiating within your budget.
Finalise your offer & sign on the dotted line
If your offer is accepted, all there is left to do is finalise it, pay the deposit and get the mortgage sorted, and sign on the dotted line. Remember, once you have signed the paperwork, the property belongs to you, and there is nothing that you can do about it, so it is important to ensure that everything is in order before doing so.
Buying a house, whether it’s your first home or a new family home, is incredibly exciting. However, it’s important not to get too over excited and rush the process of buying your dream home; instead, it’s best to take note of the tips and advice above and move things slowly, to ensure that everything is as it should be. After all, a house is the biggest investment that you will ever make, so it pays to make sure that you aren’t making a mistake.