5 steps to help you buy your first home
There’s not much point going on viewings until you’ve established what you can afford, the type of home you’re looking for and where you want to be.
Looking at properties before being certain about any of these factors is risky, not to mention a waste of time for both you and the owner.
Looking for a property, requires focus and motivation. We narrow it down to three key pieces:
budget, space and location.
First, start off finding out your budget, then the other two pieces will fit around that.
Find what space you need and your preferred location.
1. Establish your budget
Not sure where to start? Speak to a mortgage adviser, they will give you an idea of what your budget might be. This is depend on your salary (salaries if you are buying with someone else), your monthly outgoings, any outstanding debt you have and the size of the deposit you have saved.
2. Make a wish list
Once you know what you can afford, list down what you want from the property. That means the number of bedrooms, kitchen size, local schools, garden etc. When you’ve done that, mark each requirement on an importance scale of 1-10 as it’s likely you’ll have to compromise on something down the line. Things have changed in this current climate, we have seen how working from home is now essential for some buyers, another one is a garden. Write down those important to you and this will help you on your search.
3. Use free tools and information on online portals
Use the information on Zoopla for example, to research local property values, sold house prices and other useful info such as average time on the market in that road or street for example. You can even find out the average price per square foot of the property!
4. Contact some local agents
Useful as they are, online tools and information are just a starting point. They won’t replace speaking to an expert who has up to date knowledge of the current local property market. Discuss your requirements with a few local estate agents. Ask us anything, no question is a stupid one, if you haven't done this before, we know how it can be a little daunting. It’s our job to know everything there is to know about the property market in our area.
5. Narrow down your search
With every viewing you will find out more about what you want, don’t want, and what you can and can’t afford. Use each viewing as a means of refining your criteria and potential compromises. As we say to all of our buyers, no viewing is EVER a waste. It gets you closer to finding your dream home.
If you want to talk about what you could do to your house to help it sell, just give us a shout, completely free of charge. It would be our pleasure.
We are here to help. Happy house hunting!
Take care,
The Alexanders Team.