Useful Advice for First-Time Buyers

Exciting, daunting and confusing – These are just some of the emotions that you might feel as a first-time buyer taking your very first step onto the property ladder. With so many strong emotions flying around, it is wise to have a reliable and experienced Estate Agent by your side to help you through this unfamiliar process. For a comprehensive handbook when buying a property you can download our free Buyers Guide here but before then here’s some helpful advice for those of you who are first-time buyers.

Finances

From deposits to mortgage repayments to monthly bills, buying a home needs to be based on solid financial foundations. There are several tools online that can help you to get to grips with the running costs of a property but before you move in there’s a little matter of deposits and a mortgage. We work closely with Heron Financial to offer you free independent financial advice from an IFA prior to you making any decisions on a home. Based in our office yet working independently Matt and Warren come from a background of both financial services and property making them the perfect team to look after you as you start the process of buying your first home.

Look ahead

When you’re buying a house, it is easy to get caught up in the here and now. We appreciate that you might be excited to take that first step on the property ladder, but before you make the leap, you should consider your long term plans first. It might seem extreme, but you need to picture yourself in the future, maybe five or ten years down the line. Are you planning to stay in your first home long term? Are you planning to start a family? These are important questions to think about because a growing family could affect the size of the home you buy and school catchment areas could affect where you lay down roots. Location is important for any buyer so our advice is not to compromise on location.

What are you buying?

Although it is easy for first-time buyers to wear their hearts on their sleeves, it is important to be headstrong and make sure you know all the details before making a commitment to buying the first property you fall in love with. You can ask questions to determine exactly what you’re buying and why the vendors are selling. They may not answer the question of why, but it’s helpful to get a good idea of the property’s history and to find out what exactly is included in the sale. Popular questions include, how long has the property been on the market? Have any major works been done to the property? And what are the neighbours like? It’s a good idea to have your questions in mind before each viewing.

Lifestyle

Your first home is far more than just bricks and mortar. Yes, it’s a great investment for your future, but what about the here and now? Every homeowner wants and needs different things from their home and there are numerous things to take into consideration aside from falling in love with the property. Depending on your circumstances, you may want to consider transport links to work, your neighbours and your day to day needs such as the number of bedrooms, off-road parking, outdoor space and garages. You should try to imagine living in the property and how it would suit your individual lifestyle.

If you have any questions about buying your first home you can call or arrange a meeting with an experienced member of our team at your local branch.