First Time Buyers
Guiding you through the process of buying your first home.
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Budget accurately
Be realistic about how much you can spend on a house, and make sure you can afford the repayments. Don’t forget to allow for furnishings, and remember older properties may need extensive work. Make sure you budget for these expenses in addition to the purchase price, along with other fees such as conveyancing and stamp duty.
Look at the local area
Even if you don’t have children, remember that property in the catchment area of good local schools is much easier to sell on. Also, write down a list of local amenities that you need, such as particular shops, a gym or cinema. Before making any final decision about where to move to, take a stroll or bike ride around the local area.
Remember the bills
If you’ve been used to living at home with your parents, remember to budget for expenses such as council tax, gas and electricity bills, boiler servicing and other home repairs. Make sure you know what the likely council tax charge will be in your new property.
Ask for a second opinion
When buying for the first time, there may be a number of details to look out for that you may not be aware of. Always take an experienced home buyer with you when viewing a property. If this is difficult to arrange, make sure you get some help when you take a second view.
Check transport links
Consider the availability of public transport services, like local bus routes or the frequency of train services from your nearest station. Even if you drive everywhere, this information will be useful for anyone coming to visit you who doesn’t.
Check commuting time
Commuting can be one of the biggest household expenses. Since you’re likely to be spending much more time on domestic chores and/or DIY, minimising your commuting distance could be important. If property is more expensive nearer to your place of work, make sure you weigh up this additional expense.
Check connectivity
If you are a heavy internet user, check the broadband speeds available in the area you’re moving to. The selling agent should be able to provide this information.
Speak to your motor insurer
If you have a car, your insurance premium may increase if you move to an area with a higher crime rate, or are trading off-street parking for on-street parking.
Are you a first time buyer?
Call one of our expert advisors now or complete our Mortgage Enquiry Form
