Buying your first property?
Are you hoping to buy your first property and have no idea where to start? The process can seem daunting at first but with the right guidance and direction it can soon become very straightforward.
Here are our top tips at McVeigh Property Services to help you with your property journey.
First things first! Think about the type of property you want
It’s important to consider what you want from a home, it is easy to get distracted when there are many properties to choose from so before you start looking it might be wise to make a list of necassary items your home must have and a secondary list of things that would be a bonus. It is also important to consider the type of property you would like, properties come in all shapes and sizes, detached, semi-detached, terraced so have a think about what might suit you best. Don’t forget location! For some people, this might be a non negotiable however if you are new to an area it is always a good idea to do some research, you may want to look at local schools, public transport, parks and shops as well as accessibilty to motorways if required for your daily commute. When buying a property you really need to consider your lifestyle and the type of home that will suit. Got a dog? Then you may need to consider a fully fenced garden. Got a young family? Then you may need to consider schools and parks that are close by. These are things to think about when choosing the right property for you.
When researching the location it is always advisable to pay a property a visit before you book a viewing. Most properties are in a location which allows buyers to see them from the road. Driving by the property and through the neighbourhood will give you a good idea on what it is like and should give you a good feel for the area.
Speak to a mortgage broker
Easily one of the most important steps in the process. In fact, this is one of the first things you should do when considering buying your first property. A mortgage broker can assist with a mortgage in principal for you which many agents will ask for when you are viewing properties and making offers. Your mortgage broker will be able to give you an idea of what you can spend on your new home and what the bank will lend which will help you work out your budget when researching properties.
Start thinking about solicitors
Another very importnant step is the conveyancing which will take place once you have gone sale agreed on a property with a seller. At this stage, the agent will ask you for your solicitors details, it is wise to be prepared and have these ready to go so that the process moves smoothly. With this being the case you may want to contact some local solicitors prior to your purhcase to get an idea of who you might like to use and the costs that you can expect for this part of the process.
Everything moves quickly these days and we have the same expectation when it comes to purchasing our first home too however prepare yourself for the realistic timeline that you can expect things to happen in, most agents will tell you it can take up to 12 weeks to complete on a property. Knowing this in advance will help you plan in advance for the exciting time you will have ahead of you when you collect the keys to your first home!