Buying a home can be daunting and complicated. You’ve probably got a lot of questions and the last thing you want to do is feel overwhelmed by the paperwork and jargon – and that’s before you’ve even considered the many mortgage products lenders offer.
We have some top tips in taking your first step on to the property ladder -
Find out how much you can borrow and have a realistic budget
There are online mortgage calculators that give an indication to how much you can borrow; however, it’s best to get a more accurate figure on your affordability. Get in touch with us for a free, no obligation affordability assessment.
Always add up costs such as legal fees, stamp duty, removal trucks and any other associated fees.
Don’t forget to allow for furnishings or any work that may be required in the property e.g. floors, tiling, electrics
Consider your bills, service charges ground rents
Check the expenses such as council tax, gas, electricity, boiler servicing and other home repairs for your new home.
Ground rents and service charges can range extensively and may also impact what you can afford. Always ask what these costs are when you view a property as the selling agent should be able to help you.
Look at the local area
· Is it easy to get to public transport? Are there good rail links?
· Can you walk to the shops?
· Are you near a pub or bar that gets noisy?
· Are there noisy roads or train tracks nearby?
· Are schools important to you? If yes - are you in a good catchment area for schools. If No – are you near a school that makes it impossible to get out of your drive at drop off time?
· Any local amenities which are important to you? (shops, gym, cinema etc)
· Consider looking around the area and viewing at different time of day, maybe go for a walk or bike ride to get a feel of the place.
Don’t be afraid to ask lots of questions
When buying for the first time, there may be a number of details to look out for that you may not be aware of.
Here are some suggestions:
· How long has it been on the market?
· How many viewings has it had?
· How many offers has it had?
· How old is the boiler and when was it last inspected?
· Are any white goods included?
· Have there been any neighbour disputes?
We are here to make the process much simpler and stress free, speak with one of our experts who will be happy to help you every step of the way.
For more information please contact Abode Brokers Ltd on 0203 6339812 or email firstname.lastname@example.org and we will be happy to assist you.
Your home may be repossessed if you do not keep up repayments on your mortgage.