9 things all first-time buyers should know
Buying your first house?
It’s a big deal.
And yes, you guessed it, stressful. But let’s not lose sight of the fact it’s also really exciting too.
At GD Legal, we are property solicitors with a difference. Putting you at the heart of our service, we promise to help make the process of buying property as simple, straight-forward – and dare we say enjoyable – as possible. And that starts with sharing a few of the most common things all first-time buyers should know before they start the process.
#1 – You’ll change your mind
Off road parking, period features, easy commuting distance – whatever’s on your wish list the more you start to look around the more you’ll realise that what you want, and what you need, aren’t always compatible.
This reality check can be worrying. As you cross things off your ‘essentials’ you may start to panic that you’re making too many sacrifices. But try to look at the bigger picture. Think with your head and not your heart. Many of the changes you make to your wish list will be borne out of experience as you look around more properties and get a true feel for what it is that’s really important to you.
#2 – Your survey will find problems
There’s a sense of dread when people hear that their property survey has picked something up. But relax. That’s the whole point. Surveys are designed to find problems so that you purchase your new home with your eyes fully open to any potential issues – saving you expense and heartache further down the line.
And don’t forget, many of the concerns picked up by a survey can be easily resolved and don’t have to be complete game changers.
#3 – No questions are daft
Never feel silly asking questions. If you’re wondering about something – ask! The more informed you are about a property and the buying process, the less likely you are to hit a snag.
#4 – Looks aren’t everything
Don’t be blinded by dodgy décor or strange layouts – that lounge doesn’t have to be the lounge. When you’re viewing a potential new home, try to see past what’s right in front of you and assess the overall potential. Ugly interiors and exteriors can be changed and improved over time.
#5 – However much money you think you’ll need, budget for more!
It doesn’t matter how much you save, when it comes to buying a new house, costs always end up being more than you’ve anticipated. So, whatever your budget goal, add to it. That way you’ve always got a contingency fund.
#6 – Help is available
Help to Buy, Right to Buy, the Mortgage Guarantee Scheme – there are plenty of government backed initiatives to help ease the financial burden of buying your first home. Do your research and find out what you could be eligible for.
#7 – Shop around for mortgage lenders
Mortgage comparison websites won’t all offer the same results, so look around to get a proper feel for things. It’s also important to think about the type of mortgage and features you need before making your decision on which lender to go with.
#8 – Your property conveyancer doesn’t have to be local
Thanks to modern systems and technology your property conveyancer doesn’t need to be local to you – or your new home! Meaning you can focus on choosing the best service at the best price, and don’t need to be restricted by postcode.
#9 – Enjoy the moment
You only buy your first home once. It’s a rite of passage and an experience you’ll never forget – so enjoy it!
Talk to the experts
First-timer or a seasoned seller, it makes no odds to us as we offer the same great service to all our clients. Providing you with your own dedicated conveyancer from the get-go, you’ll have one friendly and reliable point of contact throughout the whole property buying process.