Considerations when buying a house...

What are the most important factors to consider?
Buying a property, whether it may be your home or an investment opportunity, is a huge investment and therefore it is important to use reliable, professional people throughout the process that you can call on for advice. Being a first time buyer means you have nothing to sell yourself, hence no chain behind you which is hugely attractive to vendors.
What tips would you give to first time buyers?
Find out how much you can borrow before you start looking! It is a really good idea to visit a financial advisor who will be able to talk you through mortgage company processes and look at your finances to make sure you are in a good position to go ahead when you find the right home for you. Getting a mortgage in principal puts you in a strong position when making an offer on a property as it reassures the vendor that you have all your ducks in a row and are ready to move forward.
What are the most important thing to look for, and questions to ask, when viewing a property?
If the agent has done their job well, they should at the point of viewing have pretty good knowledge of the property and should be able to answer questions such as: When was the property built? Have there been any extensions? Are there building regulation certificates for any major works done in the property? Is it freehold or leasehold? Why are the vendors moving? Are there any right of ways over the property? Are there any plans for development in the area? If the agent does not have the answer to everything, ask them to find out for you. Visit our property buying advice page to help guide you through the process.
What kinds of costs should people factor in for the buying process?
Costs include conveyancing (Solicitors) fee which also include associated costs such as local searches and land registry fee. Find out from your Financial Advisor if they charge a fee for their services including mortgage application and survey fees from the bank/building society who will be providing your mortgage. Other costs to consider include removals and/or storage and of course your deposit for your mortgage.


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