8 Top Tips on How to Find the Perfect Home to Buy!06 May 2016
Finding a home regardless to if it is your first time or investors can be exciting! It can also be extremely stressful and tiring – see below for our top 8 tips of finding the perfect property.
1. Finance – It is crucial to know what you can afford to buy! Unless you are a cash buyer you are more than likely be requiring a mortgage. Before you start viewing it is always best to speak to an independent financial advisor who can search the whole market and source the best deal. In most circumstances you will require a deposit and this is usually between 5 – 10% of the purchase price. Once you have found the right mortgage deal go as far as getting it agreed in principle (AIP), this will help when offering on a property. Remember you will also need to pay for removals, solicitor fees and Stamp Duty!
2. List you requirements – Even with an unlimited budget you very rarely find the perfect property. It is always good to set down what your actual requirements are and not your ideal wish list. Remember if you set too many requirements you may miss the ideal property! You will be amazed by the number of buyers who purchase a property that is completely different to what they set out for originally – remember to be open minded!
3. Get your property on the market – If your purchase depends on the sale of your own property then get your property on the market! The current climate is very different to ‘the good old days’ and most sellers will not entertain an offer unless you are proceedable (i.e under offer.) If you are selling your home have it presented clean and tidy so a buyer is found quickly. When you find a buyer any offer you submit for your new home will definitely look more attractive! If you are not yet on the market please get in touch for a free market appraisal.
4. Starting your search – You are now ready to start looking for properties, start by looking online at the different generic websites available and register your details and your requirements. At this stage you can also register with different estate agents and advise them of your situation. Most agents have thousands of buyers registered so if you want to be kept informed advise them you are actively looking, your budget and your timescale. You will soon start receiving numerous details of available properties and at this stage you will need to filter which ones are of actual interest. Arrange viewings through the estate agents most viewings take on average 15 -30 mins, if you are arranging several viewings don’t cram them in as they will begin to merge into each other.
5. First Viewing – Take a good look at the outside of the property and surrounding area/properties. Are the neighbours gardens tidy? How busy is the road? Once in try and visualise the rooms without the owners furniture and possessions and if the décor is not to your taste try and think of it as a blank canvas. Remember you can always change the décor, update a kitchen or bathroom to your own needs. After the viewing try and take down notes and once home list down the pros and cons.
6. Second Viewing – Once you have viewed a number of properties you will no doubt have ruled some out and highlighted a couple of favourites. It is time to arrange that second viewing! Try and arrange to see the property at a different time of the day, you will see the place in different lighting condition and be able to see if there is any issue with noise/traffic. When viewing for a second time try and take note of more specific items i.e how many sockets, tv points, internet connection. Perhaps turn on taps to see water pressure but remember to ask first.
7. Making an offer – You can either make a verbal offer yourself direct to the estate agents or through your solicitor. Remember when making an offer to advise on the price you are willing to offer, your position and timescale. If the offer is accepted you will then be asked for the offer to be put in writing through your solicitor. Only once the sellers solicitor formerly accepts the offer will the property be removed from the market.
8. Offer Accepted – After your offer has been accepted it is time to get organised. Speak to your solicitor and find out any paperwork they require from you and if you need to go in a sign anything. You will need to start thinking about arranging removal companies, notifying utility companies and ending any contracts you may have at your current property. Remember if moving you should think about insurance and if you need to change you policy! Most purchases go through without too many complications so remember to stay calm and keep in touch with your agent and solicitor for a smooth and straight forward move!