Top tips when buying your first home

April 12, 2017 by Brendan

Advice & Tips

Buying your first home is an exciting period in your life. However, it can be a complex process, which may be daunting. Take some time to speak to a professional adviser before making the final decision. Here are some tips which may also be useful.

Although buying your first home may seem to be a great idea and affordable, on paper at least, carry out a thorough check to make sure that you can afford to buy a house. Include all the extras you will have to pay for, including the removal company, any decoration or work needed in your new home, and furniture. You will also have to save a deposit of at least 5%, to be able to obtain a mortgage.

Once you have spoken to a lender about obtaining a mortgage, you may want to ask about a mortgage agreement in principal. This can be shown to sellers and indicates that you have serious intentions about buying.

Once you have the financial aspect of buying a home under control, decide which location you would like to live in, and whether you can afford to buy a desirable home there. You may have to compromise a little on the location, perhaps living on the outskirts of a city so that you can afford a property which meets your requirements.

Mortgage advisers have studied for a professional qualification on a CeMAP training course, so are one of the best options for advice when buying a home.