As a first time home buyer, you generally have an idea of the kind of property you want to own as you may have already been dreaming of it for years. However, even if you have already pictured your ideal property, it is still quite necessary that you look for more information before the house-hunting begins.
First off, you need to make sure you’ll be able to afford buying a house prior to venturing onto property viewings. It will be frustrating to actually find something that you like so much and realise that your financial resources won’t allow you to have it.
If you’re going to need a mortgage to buy your first property, it will be great to look around for the best deals at this early stage. And while you think you have enough savings in your bank account and a stable above-average income to use as leverage for an excellent mortgage deal, you might want to find out for yourself if you can actually afford a mortgage. Ideally, you can consult with a trusted bank or lender to learn more about this or you can make enquiries from a mortgage broker or financial adviser. Either way, they’ll be able to talk to you about how your financial circumstances can afford the whole mortgage deal.
Your Home Buying Checklist
Ideally, when you have worked out an arrangement with a mortgage lender and if things are looking good enough for you, you can carry on with your search for the ideal property. The first thing you should keep in mind is location. Write down everything that you need and want in a house and compare your preferences against properties that are currently in the market. For your reference, you can choose to have a look at independent estate agent offices for their property listings, or you can also have a look at the latest house prices listed on the Land Registry website.
More so, you should also consider what you think would be an ideal home in terms of the following:
Location - consider the places you need to reach on a regular basis together with access to transport, travel time and traffic situation. You might want to be near your place of work, school for the children, a local church, the supermarket, etc.
Property Type - whether you want a new-build or a previously owned home.
Number of Rooms - how many people are going to actually live together in the house once you buy it and if there are any chances of anyone moving in or out anytime thereafter, and;
Space In and Around the Property - would you like to build a garden around the house or perhaps you want space for possible (future) extension?
Once you’ve made up your mind about these considerations and property listings are on hand, you should be all set to arrange a viewing directly with a property seller or through an estate agent. The trick to actually getting the odds on your favour when looking at a property to buy is to always be on your friendliest behaviour - your offer is very likely to be considered and they’re likely to take on somebody else to have a look at the property.