25 things First time buyers must consider

So we thought we keep it short and simple. Here are 25 things you should have on your to-do list if buying a home is something you fancy. This is just a list. We go into more detail on each topic in later blog posts. To see more info, just click on any item in the list.

Here we go…

1. start saving your Mortgage deposit

2. Determine how much you can afford and how much you need to save

3. Check your credit score

4. Stop any new credit applications until you understand the consequences

5. Explore your deposit options: can you pay less? Will your family gift it to you?

6. Research Government-backed schemes such as help to buy

7. Budget for closing costs such as stamp duty & moving costs

8. Don’t forget to plan post move in living expenses. LOL. No, seriously!

9. Consider what type of property to buy- a bit obvious but give it a think

10. Understand mortgage options: fixed rates, tracker rates? No this isn’t jibberish!

11. Compare mortgage rates and understand what affects the rates you are offered

12. Decide if Increasing your deposit or waiting a few months for better rates makes sense

13. Get a Mortgage in principle so you can shop with confidence

14. Hire the right agent

15. Stay under your Mortgage in principle limit

16. Pick the right neighborhood

17. Make the most of any viewing by thoroughly inspecting the property

18. Buy a home for tomorrow- starting a family? well that 1-bed room flat just won’t do!

19. Don’t let the little details stop you from buying your dream home

20. Be prepared to compromise on little things.

21. Make a smart offer. Not too high… not too low

22. Avoid a bidding war that blows your budget

23. Negotiate. You knew this one!

24. Buy homeowners insurance

25. Don’t expect a home inspection to find everything

Leave a Reply

Your email address will not be published. Required fields are marked *