One of the most exciting times in life is buying your first home, however it can also be a very daunting project. If you are feeling overwhelmed or in need of some advice, trust Peter Robinson & Co. to help make your purchase as simple and stress free as possible. We bring you a quick guide to buying a property for the first time.
1 – Research
Choose the areas and suburbs that interest you most and start your research. Look into local facilities, transport links and relative earnings to see whether it would be a move worth making. Make a checklist of ‘must haves’ in a property. If you have your criteria written down as you view it will make it much easier to compare.
2 – Start Saving
First time buyers are often surprised by monthly costs other than their mortgage. Take into consideration the costs of utility bills, food, travel and entertainment, and don’t forget to budget for legal fees, searches, and surveys before confirming your maximum budget.
3 – Choose a Solicitor
It is a good idea to appoint somebody to handle the legal aspects of your purchase as early on as possible. We recommend that you contact us as soon as you’ve seen a property that you’re interested in. The faster things move, the better the chances that all will go smoothly.
4 – Make an Offer
Once you’ve found the perfect place, you’ll need to put in an offer. You don’t have to offer the asking price, and are perfectly entitled to negotiate until the seller accepts.
5 – Offer Accepted
Once the seller agrees to the offer you have made then the buying process can go ahead.
6 – Surveys & Valuations
Once your offer is accepted your mortgage lender will arrange for a valuation of the property. You may require a full survey of the property, which could include:
- A building or structural survey
- A homebuyer’s survey and valuation
7 – Preparing to Move
Once you and your solicitor are satisfied with the process so far, the contracts can be exchanged. The exchange of contracts is the only point where the transaction between the two parties becomes legally binding, and there is essentially ‘no going back.’ While the legal process is being carried out, you can begin to prepare for the required completion date. Take the opportunity to start packing and hiring a removals firm to transport your belongings.
Entrust your first and possibly most important purchase to Peter Robinson & Co. We are the best qualified to guide you through this process.
With 30 years experience in the Conveyancing business and with a dedicated Conveyancing team of friendly experts we will ensure your purchase is as straightforward as possible. If you are a first time buyer and need help or advice even if you have not yet found your perfect property contact Peter Robinson & Co. Our specialist Conveyancing team are waiting to help you every step of the way.
If you are a first time buyer considering a purchase, call us now on 0161 678 7996.