Buying a property is exciting especially for first time buyers. Find below some useful tips when buying a property:
Source of Finance
It is very important to know how much you can actually afford to spend on a property. Consider how much cash you have for a deposit firstly, then speak to a mortgage advisor and find out how much you can borrow. If you’re a first-time buyer, you could get up to £3,000 from the Government by saving with a Help to Buy ISA. Seek advice on how to go about this from your local lenders.
Location counts. Visit the neighbourhood as many times as you can. Visit the parks and other local amenities around the area at different times of the day. Find out information relating to the area. Police crime-mapping websites show local hotspots and break down recorded crimes such as burglary and anti-social behaviour.
Making an offer
When you have found a property you wish to buy, the next step is to put in your offer with your agents. Your offer might be initially declined but negotiation is the key to a reasonable compromise. Do not be afraid to bargain.
Find the right Solicitor and Surveyor
Once your offer is accepted, you’ll need a solicitor who will handle the legal work around the property and the surveyor will survey the property to check for problems, which might impact on the cost of the home. They will also see you through to the final stages of exchange and completion.
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