Buying a house is one of the most stressful processes you can go through. This is amplified by a hundred when it’s your first home, and you have no experience in what to expect, who to speak to and how much things should cost.

There’s no need to panic though…

To give you a run through of what to prioritise on the never-ending to-do list and who can help you purchase the house of your dreams, for a reasonable price, here’s home purchasing made easy for first time buyers…

Get Your Finances In Order

The crux of making such a huge purchase is having the funds ready and in place for when you see a property you love. Firstly, you will probably have an idea of what sort of property you want to buy, or have had a browse at the market situation so you’ll have a rough idea of what you can spend. Speak to your bank, as they will help you estimate what sort of price you will be able to afford the monthly mortgage payments on, as well as what deposit you need to save and what mortgages might be available for you.

Consider government schemes such as Help To Buy, Shared Ownership and Right To Buy, as you may be eligible for some help with your purchase. For example, with the Help To Buy initiative you are able to receive 20% towards your deposit.

What First Time Buyers Need To Spend

The costs of buying a house, at any stage, are often overlooked so we suggest creating a budget sheet. Here is what you need to take into account;

  • Mortgage arrangement fee
  • Deposit
  • Valuation fee
  • Legal fees
  • Stamp duty
  • Surveys
  • Removal costs
  • Furniture
  • House repairs

Mortgage lenders and brokers will usually try to encourage you to take the maximum loan being offered, however, we would urge you to be careful with what you accept. Think about what you actually need to borrow. By taking the top end of what you are eligible for, you are needlessly increasing your monthly payments.

Research Areas, Planning Permissions & Amenities

Once you have more of an idea of your budget this will possibly narrow the areas within which you can buy. Have an explore of localities you like, preferably at different times of day, just so you can get an idea of the feel for a place, what the traffic is like and where the amenities are that you might need, a local shop, doctors surgery or vets for example. It is also worth researching if there are any plans to develop in the area you want to buy. By doing this you are less likely to have any nasty surprises in the form of a supermarket popping up outside your front door.

Find A Trustworthy Conveyancer

Imagine you are at the end of the lengthy house-buying process. You have a mortgage in principle, you’ve made an offer and had it accepted. Your next step should be appointing a solicitor to handle the purchase as smoothly as possible. We use state of the art systems, in addition to our local knowledge to ensure everything runs to plan, as swiftly as possible.

If we can help you with any first-time buyer or conveyancing questions, get in touch with our specialist teams today.