Important Steps to Take When Purchasing a New Property
Finding a new home, whether you are a first-time buyer or a seasoned mover, can be a very exciting experience. That being said, there is no doubt that it can be tiring and stressful. If you want to make sure that your next move is stress-free and enjoyable then this guide will help you to find a property that suits your needs, with ease.
Finance First
Before you even start to look into properties, you need to look at how you intend to pay for your next home. If you are not a cash buyer then your purchase could well involve you borrowing money via a mortgage. You will also need to make sure that you have enough money available to pay your deposit, which will either be 5% or 10% of the purchase price. When the time comes for you to get your finances in order, it’s wise for you to sit down and have a chat with a financial advisor. They can then assess the amount you can afford to borrow when you apply for the loan. An independent financial advisor will be able to help you to get all of your documentation in order and they can also help you to meet the lender’s requirements. The last thing you want is to find a property that you love and then not be able to afford it because of a financial mistake.
Get your Home on the Market
If you intend on buying a property, you may need to sell the home you have right now before you can move. Some may think that you need to find a property you’re willing to buy before you list yours on the market but you should avoid this at all costs. If your home isn’t up for sale when you find your next purchase then you may not be able to secure it quickly. You may also notice that any offer you do put in, is subjective to the sale of your own property and some sellers will not want to sell to you if this is the case. Putting your home on the market before you get serious about starting the search for your next property will help out a lot here, so be mindful of this and take steps to protect your investment.
Identify what you Need
When you have a solid idea of how much you can afford, it is then wise for you to start looking for a home that meets the criteria that you have. It doesn’t matter whether you have a dealbreaker in mind or whether you have a list of nice-to-haves, because this will help you to find out what is important to you. A lot of property sites will give you the chance to filter properties and this is great, but at the same time, you need to be mindful of closing yourself off too much.
Give Yourself the Edge
You can probably access a lot of online tools when it comes to your property search and this is great, but at the same time, you need to make sure that you are looking at different sites. The main reason for this is because some properties will only be listed through certain sites, so you need to get your enquires in early. If you only ever use one site when conducting your property search then this will work against you and this is the last thing you want. Agents often have a lot of buyers waiting for properties as well, so make sure that you show how keen you are and make yourself as appealing as possible.
Sorting the List
After you have gotten started with your property search, it’s likely that in a matter of hours, you will have a pile of homes to go through. To make things even more manageable, it helps to work out which ones meet the requirements you have set out. If you can do this then you can then find out which ones could be worth viewing. To avoid losing track of what you are interested in and why, you can set up an Excel spreadsheet showing you your options and their current status. When you go for a viewing, don’t do too many properties in one day either. If you try and fit too much in the day then you may find that you end up forgetting details and this is the last thing you need. If you want to find accommodation because you have an addiction, then Real Deal Sober Living are a great option.
First Impressions
When viewing a property, you have to remember that first impressions are everything. Take note of whether or not the outside of the home is what you expected, and also have a look at the surrounding properties as well. Do they look to be keeping in line with the area? Look at how busy the road is as well. Little things like this have to be taken into consideration because if you don’t then you may find it even more difficult to make your decision. When you are inside the property, you will need to look at the rooms themselves. Sure, they may be filled with the owner’s furniture but what will the rooms look like if filled with your own? If you can think about things like this then you will be able to get a better idea of the property overall.
So as you can see, there are many things you can do to try and make sure that you get the best result out of your property search and if you follow this guide, you will soon see that it is easier than ever for you to make the right decision. Make sure that you convey what you are looking for to your agent so that they can then keep an eye out for any properties that meet your requirements. This is a great way for you to avoid missing out on anything so keep this in mind.
