Top tips for getting your dream home
Top tips for getting your dream home – Your Money
Buying a home is hard work. Not only do you have to go through the initial headache of finding the perfect property and the uncertainty of whether you will get the finance, there’s no guarantee until the very last minute that the deal will go through.
Britons, as a nation of wannabe homeowners, spend countless hours pouring over estate agents’ offerings to find the best property in an otherwise trying time.
Dan McLeod, director at Atkinson McLeod estate agents, says:”If you’re out househunting, it’s often advisable to put aside a few hours or even a whole day as you can get a lot more achieved that way.
“Like many things, house hunting needs momentum. Going online and checking all the major portals, creating a shortlist and then arranging back-to-back viewings can be an effective way to look for a property. When you get to properties, take pics or even video the property with your phone.
“It means you’ve got something to look at and reflect on when you’re back at home. It’s hard to keep a good picture in your mind of multiple properties. It also helps if you have really settled on a specific area, or collection of areas. It means you can be far more focused during your search.
“Also, be sure to ask lots of questions of the agent. They’re there to help and a good one will be able to answer most questions you put forward. Last but not least, instinct can also be important when looking for a property. If it feels right, it often will be right.”
Here, we share a few more top tips.
The money bit
Be realistic – Buying a home is a long-term financial commitment and you need to ensure that you set yourself a realistic purchasing budget.
This should allow you to comfortably meet your monthly mortgage payments and your other financial outgoings. It is also advisable to allow yourself a monthly financial buffer to cover any unexpected costs.
Most buyers purchase a property using a combination of their own money and borrowed funds. Your first step should be to calculate how much money you can comfortably borrow from a mortgage lender.
Although it is very possible to source your own mortgage deal, a professional mortgage adviser will assess your individual circumstances, provide guidance on how much you are able to borrow and recommend specific products.
There are several other costs that need to be considered before a budget can be set.
It is first vital to account for each of the following additional costs: conveyancing and solicitor fees, searches and disbursements, Land Registry fee, Stamp Duty, surveying costs, mortgage arrangement fee and mortgage advice fee.
There are several ways of finding a property including, estate agent windows, online property portals and local newspapers.
Before you begin your property search it is vital to establish a list of constraints and priorities. Once you have these you can then start searching.
A good starting point is to look at properties that have sold in the area in which you are interested in.