Six tips for first-time homebuyers
Buying a home can be incredibly exciting, but it can also be a stressful challenge. Here are six tips to make the process as smooth and successful as possible.
Your conveyancer plays a vital role, so it pays to choose wisely. You’ll want an experienced, certified professional that’s still within your budget.
Factor in the associated expenses that come with buying your home. There’s the deposit, usually in the region of five to 20% of the property’s value. Then there are fees incurred from valuations, conveyancer fees, and costs relating to mortgage or lender fees. Try to incorporate a £2,500 cushion in addition to your deposit to account for such extra costs.
Keep in touch
Try to maintain open communication with your conveyancer, mortgage advisor if applicable, and estate agent. Being able to freely ask any questions and getting adequate responses is important. Make sure you’re always contactable, too. Check your emails and post regularly, and make sure you never leave without your phone.
It sounds obvious, but spend a little extra time on the details when it comes to your paperwork. Double check everything thoroughly. Your conveyancer will also be able to help out with legal documentation.
Patience is a virtue
Recent findings, as reported by the Yorkshire Building Society, suggest that there’s been an increase in first-time buyers in the UK, with the highest levels since before the credit crunch in 2007. Don’t be in a rush to get through the buying process. It can be a lengthy process, but it’s better to invest the time to ensure everything is done correctly and that you’re happy with any decisions being made.
Doing your research and the necessary checks will reduce the chance of any nasty surprises later down the line. You can conveniently obtain property surveys online, for example with a homebuyers report Kent at https://www.samconveyancing.co.uk/Homebuyers-Survey/Home-Buyers-Survey-Kent, which assess the property’s internal and external structure for peace of mind.
Sign off happy
The legal contract for purchasing your property is a document you need to be completely happy with, so make sure you fully understand it. Your appointed conveyancer will be able to clarify any areas of uncertainty, provide advice, and help seek a resolution to any identified areas of concern. Don’t sign before you’re entirely satisfied.