What Should You Be Aware Of When Looking For A House

*Collaborative Post

Buying a home is a big decision, and one of the largest investments you are likely to make in your life. It can be a difficult place to start, with so many options to choose from. Here are our top tips for buying you first home, and factors you should be aware of so nothing catches you out in the process.

Finances First

There is nothing more frustrating for an estate agent that a buyer who is not in a proceedable position. Before even going to view homes, it is important to get a Mortgage in Principle in place, to establish how much money you are able to borrow. This will save you both time and effort, as you will have a realistic understanding of how much money you can borrow, therefore the price of houses you can look up to purchasing. Establish how much deposit you have, and then speak to an independent mortgage broker to get access to the best rates available.

Think about what home will best suit your needs

Think about what it is you want from your first home. How long are you planning on staying here – will this house be big enough if you wish to expand your family? How many bedrooms will you need, do you work from home and need working space? These are all important factors to consider in your search. If you are a first-time buyer, make sure you create a list of what you can compromise on, and what are essential parts of your move e.g. A garden or parking.

Research that area

Make sure you have done sufficient research into the area you are wanting to move into. Is this commutable for work? Is it an upcoming or well-established area that has everything you may need?  If starting a family is important to you, have a look at the Ofsted reports of nearby schools to help you decide further.

Split the costs

Consider co owning a home, with friends or family. See if you can go into a house with friends or family to split the cost between you. This does not necessarily mean that they will have to live with you, it may be that they use this as an investment, and you could at a later date buy them out if you wanted. This way it could be a win-win for you both, and further increase your chances of getting on the housing ladder.

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