Top tips for buying your first home

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Are you looking to purchase your first home? Whether you’re already knee-deep in research and viewings, or you’ve only just started thinking about it, here are some top tips to make the process smoother:

Seek professional advice

As a first-time buyer, there is a high chance that you don’t know much about the process of buying a home. This is perfectly normal and to be expected but don’t let it hold you back. Seek help from professionals throughout your buying journey rather than trying to tackle everything on your own.

A mortgage advisor will be able to advise you on many things; firstly, they can let you know how much you will be able to lend, as well as how much of a deposit you will need. Secondly, they may be able to advise you on any ISAs or schemes that you could be taking advantage of. Thirdly, some mortgage advisors are even able to advise you on insurance policies that you are required to have once you purchase a home. Do some research into mortgage advisors and be sure to read client reviews before deciding who to use. It could also be worth checking if any of your family or friends have a personal recommendation.

As well as arranging viewings, speaking more in-depth with an estate agent to allow them to gain a better understanding of what it is you’re looking for, your new home must-haves, and areas you aren’t willing to consider. Being privy to this information means they will be able to recommend new properties to you and may even be able to show you homes before they are officially on the market.

View as much as you can

When buying a home, whether you’re a first-time buyer or not, it is useful to view a wide range of properties. Be sure to book viewings for new homes as well as older properties, in a variety of areas. Try not to restrict yourself too early on but don’t spend time viewing properties you know you can’t afford.

If possible, book multiple viewings on the same day or across the same week. This means that the properties are fresh in your mind when making comparisons. Whilst you are at these viewings, don’t be afraid to ask as many questions as you’d like. You are going to be investing a significant amount of money in a home, so you are well within your rights to ask for more information or gain clarity on things you’re uncertain of.

If you find a home that you like, be sure to also explore the area and visit during different times of the day to really gauge whether you would enjoy living there.

Fail to prepare, prepare to fail

The process of buying a home can be stressful, especially with the market being so competitive. One way to help manage the stress is to prepare as much of your purchase documentation as possible before offering on a home.

Speak with people you know who have bought a home and do some research into what will be required from you and begin collating these documents now to avoid panicking later down the line.

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