Top things to consider when buying your first home

Buying your first home is an exciting time! We know there’s lots to learn and that’s where we can step in to help!

Here are our top things to consider when buying your first home to make the process flow as smoothly as possible…

Research

There’s plenty of research that can be done during the initial stages of your home buying process. For example, researching the area you would like to live in, the neighbourhood and even the type of house itself. You could also look for money saving tips to increase your deposit and government schemes to help first time buyers! Using credible sources within the finance, housing and mortgage markets can provide lots of information that you may find useful throughout your home buying journey.

Make sure you have a good credit score

A crucial step in your home buying journey is to check your finances and credit score before you apply for a mortgage. This is so important as small errors can lead to rejections. You can boost your credit score by paying off any debts you have accrued, paying your bills on time, register on the electoral roll as it makes it easier to confirm your identity and use a credit card for small purchases and ensure that it’s paid on time each month.  

Cost of buying

Buying a home comes with plenty of additional costs and paperwork. Such as the deposit for your home, mortgage arrangement fees, legal fees, mortgage broker fees, and survey fees. You also have the costs of moving, home decoration and repairs and all the home appliances, furniture, and décor, utilities, insurance and more to consider. It’s a good idea to budget as much as you can and only spend what you can afford. Keeping track of your outgoings can reduce the amount of stress as it gives you a visualisation of what expenses have been paid and have yet to be paid.

Viewing the house

Viewing in person will give you a feel for the property and if you can visualise yourself living there. It also gives you the chance to spot renovation potential or any areas that may cause an issue once the house is bought. It is recommended seeing the house at different times of the day as you may notice possible problems you didn’t see before.

It’s important you take your time when viewing the house as there are lots of things that could be missed. Taking pictures and making notes on its condition along with checking each room and the exterior thoroughly can help you weigh up your options and decide if the house is right for you. And finally, don’t be afraid to ask questions during the viewing!

Speak to a mortgage adviser

Speaking to a mortgage adviser can give you all the knowledge and advice that you need in the early stages of the mortgage process. A mortgage adviser can guide you through your home buying journey by finding the right mortgage product for you based on your personal circumstances.

We have expert advisers on hand to talk to you about buying your first home. Get in touch with us today on 01246 862911 or click here to arrange a call back.