When looking at it as a whole complete process, buying a house can appear to be a scary and stressful process that involves lots of money disappearing, legal stipulations that have to be met and lots of red tape. It’s fair to say that for the average person it can all be a little much.
That’s if you just look at it as a whole. When you break things down, even the most stressful and complicated, into stages – they become less nightmarish.
Therefore, take a look at the step-by-step guide to buying a home for first time buyers that the St Albans estate agents, Collinson Hall have put together. Take these crucial steps and you will find that moving into your first home is a breeze.
1 – Should You Rent or Buy?
As there are various advantages and disadvantages of both renting and buying, it’s important to consider the best option for your current situation and plans for the future.
2 – What Can You Actually Afford?
Spoiler alert! It can cost quite a lot of money to buy houses. Click here for advice on how to calculate what you can afford and how to determine your budget.
3 – Saving Money for a Deposit
When you have a larger deposit to pay, it generally means you will owe less money to your bank. Here are some money-saving tips to help you get that deposit.
4 – How to Find the Perfect Home
Are you getting all twinkly toed and excited? Let’s get you on track to find that amazing home you’ve always dreamed of owning. Remember though, it’s not just about the property, but the location.
5 – Get Your Mortgage Agreement in Principle
This is where things get much more serious. Find out how to apply for your mortgage, the kinds that are available and the pitfalls you need to look out for and avoid.
6 – Viewing Property
You’ve probably watched too many property viewings to count on the television. However, now is the time to experience it in real life. You need to be in-depth and as thorough as possible when viewing properties you are interested in. Keep these points in mind at all times.
7 – Making The Seller An Offer
Now is the time for you to show what you’re made of and make an offer to get that house of your dreams. This is when you make everything concrete with regards to your mortgage so that you can buy that house.
8 – Conveyancing and Surveys
There is always red tape involved somewhere in the process of buying a property. Don’t be scared of it though, as it is there to ensure that everyone is happy. This is the point in the process when the conveyancers and lawyers get involved and do the harder work for you.
9 – Time to Exchange Contracts and Insure that House
You have almost reached the finish line. You just need to exchange contracts with the seller, shake hands and show that you are in agreement with the terms of the sale. The last major hurdle to clear is getting the building insured.
10 – Moving In
Feeling all flustered and nervous with excitement? It’s now time to pack everything up and move to that brand new house that’s waiting for you.
As you have done a sterling job at this stage so far, you’ll hopefully be moving house with as little fuss as possible.
And that is basically all there is to buying a house! Easy, right?