Top tips for house buyers
Top tips for house buyers
Whether you are a first time buyer or are a seasoned veteran with several house moves behind you, it always pays to have a plan or a checklist for the key items you will need to concentrate on in order to make the process of buying a house as stress free as possible. The team here at Edwards has put together our top tips based on our decades of experience.
1) Get your financial house in order
This might seem a little obvious but needs a lot of attention because of its importance in not only the house buying process but also your life afterwards in your new home. Key points here include:
- Carefully evaluate the costs of buying – deposits, Stamp Duty, solicitors, surveyors and mortgage fees and, of course, removal fees can all add up to a hefty number indeed.
- Do the same with the cost of ownership â€“ the mortgage, utility bills and council tax along with an allowance for wear and tear and repairs over time.
- Check your credit record for any adverse history or mistakes as this can derail your mortgage application.
- Choose your lender or mortgage advisor carefully and review available products that suit your specific needs.
- Get ahead of the game by arranging an â€˜in principleâ€™ mortgage â€“ this will ensure your offer is taken seriously.
- Review insurance options carefully to ensure that you and your family are covered for the unexpected (illness, redundancy etc).
2) Choose your destination carefully
Do as much research as you can about the property, the street and the area even if you currently live locally â€“ is the neighborhood clean, tidy and free of problems? What is the rush hour or school run traffic like? Are there any problems with flooding? Check out our helpful area guides to get you started. We would also strongly advise you to take a look at the property and its surroundings before you arrange a viewing – a simple drive-by can answer a lot of your early questions and potentially avoids wasted viewings.
3)Â Making viewings worthwhile
To back up all of your previous research and hard work, always arrive at a viewing with a clear set of questions about the property â€“ donâ€™t be afraid to make a list and bring it with you. Our experienced viewings manager should be able to answer any questions that you might have that donâ€™t get covered at the first viewing and of course we would recommend additional viewings to help you firm up your decision.
4)Â The right survey can really save you money
While surveys might seem like even more expense when buying a house getting an in depth report on its condition before you commit can save you thousands of pounds in the long run. If there are any defects highlighted you can then either request that remedial work is done before you complete or negotiate the asking price down to accommodate the cost of work. Either way you are in a better spot than discovering the problem after you move in.
5) Speed is of the essence
Making sure that you actÂ quickly is often the difference between securing you new home and losing out. Great properties come onto the market and are snapped up very quickly so being prepared to move fast is essential.