Category: Buying a House

Professionals to Engage With When Buying a Home

Photo Source

 

Purchasing a property is a complex process. It’s not all too surprising that many of us can quickly begin to feel overwhelmed after deciding to find a place of our own! However, it is one that you are likely to carry out at some point or another. After all, we all want to own a place of our own! Luckily, you don’t have to go through the entire process alone. There are a whole host of professionals out there who will be more than willingly to lend you their knowledge, expertise, and experience in order to make your journey to buying home a lot simpler. Here are a few to consider!

 

Mortgage Brokers

 

If you’re buying a house, you’re going to have to take out a mortgage. Long gone are the days when people would simply save for a few years and purchase their first property outright. House prices are so high nowadays that you are likely to spend multiple decades getting the funds together. Luckily, mortgages mean that you can actually live in your property while you are paying for it! Now, there are all sorts of mortgages on the financial market and it can be extremely difficult to figure out which will prove best for you as an individual. Mortgage brokers like Altrua Financial can help to come up with deals between you and professional lenders. They have pre-existing relationships and connections, and are likely to come up with a better offer than you would find from scouring the market alone.

 

Estate Agents

 

Estate agents are professionals who specialise in selling and letting properties. You are likely to have to go through them in order to gain the details of individuals who have place properties on the market. Not all too long ago, you would have had to actively step into an estate agent’s office and browse through tangible booklets detailing all of the properties that they had on their books. However, nowadays, most agencies have all of their information online. You can browse ads, taking a look at images of all of the properties that are currently on the market and reading through details regarding their price, details, and proximity to amenities. This takes a lot of pressure off your search, as you can browse freely until you find something that catches your eye. The first contact you are likely to have with an actual estate agent is when you inquire about a property and arrange a viewing. If you decide that the property is for you after your viewing, the estate agent will then draw up an agreement and take care of all of the legal work between you and the individual selling up.

These are just two different groups of professionals operating within the property market who you are likely to come into contact with at some point or another in your house hunting journey. However, we’d highly recommend engaging with them, as they will make the entire process a lot simpler!

Please follow and like us:
0

Everything Millennials Should Know Before Buying A Home

Image

 

When you reach your early twenties your mindset will change. You will no longer want to be living with your parents in their home, and you will want to spread your wings and really make an impact on the world.

 

As a millennial, the idea of buying a home in your twenties might seem like a pipe dream. The way that house prices are going these days it is a wonder that we manage to afford anything at all. Living in this world can be an expensive affair, but it is not impossible by any means to take that leap into homeownership. Here is everything you need to know about buying a home in your twenties and all the things you need to consider.

 

Buy For Long Term


It is incredibly important that you take the time to truly think about your life before you buy a home. Decide exactly where you see yourself being in the next few years and think about everything you want to experience. This is the prime of your life, so it is the perfect time to experiment with new careers and go traveling in different parts of the world. You are young, free and able to do anything with your life, do you want to be stuck in one place for all this time? If you are single and free, think about renting an apartment for the meantime while you have fun and travel, and when you are ready to settle down, move into a home and start a new chapter in your life. Make sure you are ready for the commitment of a home before you commit.

 

Buy To Enhance Your Life


When it comes to buying a home you need to make sure you are buying for the right reasons. Don’t buy a house just because you think that is what you have to do, you need to buy a home because it will bring a positive change in your life. If you decide to invest in a home you need to make sure it is a home you see yourself growing up in, one which you see yourself having a future in for at least 5 years.

 

Don’t Let Fancy Features Sway Your Decision

 

Let’s say you have two options for a home. One of them is in the perfect location, has pretty much everything you want but is a little bit small. The second one is expensive, has a ton of great features but is far away from transport links. Which one would you choose? There is only one of these homes which you should consider and that is the first one. The second one might have some attractive features but it is over budget and will make your morning commute much harder. Always go with a relatively safe option to start off with and then you can spend the next few years saving up for a bigger and fancier place.

 

Stick To Your Budget

 

If you aren’t sure what your budget for buying a home is, you need to apply online for a mortgage in principle with a few different lenders. You will have to input your income information and your financial commitments such as a car or a child, and it will give you a house price to aim for. Don’t go above this price for your first home because it will put you in a difficult position with your bills, and you won’t have any additional income left if something goes wrong in your home or in your life. It is hard enough to get on the property ladder, to begin with, so make sure you don’t take a big risk.

 

You Can Go For A Lower Deposit

 

It is ideal for you to go for a 20% deposit on a new home because it will lower the monthly payments and allow you to go for a shorter term. However, if you won’t be able to afford a 20% deposit you can apply for lower. When you meet with a mortgage advisor you can tell them how much you have at the moment and they will be able to give you advice and options for what kind of mortgage you will pay. It is something which lenders are doing to make it easier for young people to get on the ladder and become homeowners, so take advantage if you need to.

 

Have extra money aside

 

The mortgage itself is not the only payment you have to consider when buying a new house. You will have to pay the solicitor fees, home buyer’s report, land tax and stamp duty on the home before you move in. After you move in you will be buying new furniture and appliances and possibly even decorating. Make sure you have extra money saved up for this occasion and keep saving right up until the day you move into your new home. This will enable you to buy everything you need and to start a new chapter of your life.

 

Compare mortgages


Getting a mortgage isn’t as clear-cut as you would think, and there is not a standard rate you will have to pay at every lender. Make sure you take some time to compare different mortgages because you will find that certain lenders will have a lower interest rate or a lower monthly fee. It may work out better for you to go for a lower fee for a longer stretch of time, and this can be beneficial to your future. Take your time and ask for advice if you aren’t sure which to choose.

 

Be willing to walk away

 

Even if you think you have spotted your dream house at the viewing, you always have to go into negotiations with the willingness to walk away if the price is too high for you. Agree with your partner or a family member upon a maximum price which you are willing to offer, and always try your hand at going $5000 below the price. If they don’t agree, match their price and they should accept you. Never spend more than you are able just because you like the house.

 

Buy furniture in advance

 

The last thing you want to do during the first week of owning a house is scrambling around to buy yourself an oven or a bed to sleep in. Make sure that you start buying items for your new home from the moment the offer goes through. If like most people, you don’t have space in the home you are living in to store the new items, you can store everything in a storage unit for a few months while you wait for the deal to go through. This means that as soon as you pick up the keys you can fully move into your home and start living your new life.

 

Make moving easier

 

If you have a lot of stuff to move, you will want to start packing a few weeks before you get the keys. To make the job of moving a little easier on yourself, pack things room by room and label the room and item on each box. This means that when you bring everything into the new house you can put the box straight into the correct room ready to be unboxed. It will be much less stressful and will allow you to enjoy moving day so much more.

 

Now that you know all of this, it is time to make that move into homeownership and enjoy the new chapter in your life.

Please follow and like us:
0

5 Thoughts To Have Before Buying A House

Image source

 

Once upon a time, joining the property market was a bit ‘meh’. It was a part of that natural progression we call life. You were born, you got semi-educated, you got a career, you bought a house, and so on. But all that has changed.

 

These days, getting onto the property ladder is about as exciting as anything can possibly be because the odds are completely stacked against you. Why? Because houses are stupidly expensive now – stupidly expensive – which means your excitement will be somewhat marred by stress and worry. Basically, you need to have a plan of attack before you even think about stepping into the ring.

 

So, without further ado, here is a list of tips that will help you out big time:

 

  1. Be Realistic

Yes, we would all love to by a house in Downtown Manhattan, but that’s probably not going to be possible. The best thing you can do is speak to an independent financial advisor about your situation, find out exactly what you can afford, what sort of mortgage will be best and what other factors-slash-fees could crop up.

 

  1. Sort Yourself Out

Before you knock on any lenders door, you need to get your financials under control and your credit file looking snazzy. If you’ve got loads of credit card debts, it’s probably worth speaking to https://debtconsolidation.loans/credit-card-consolidation/ to make this look less drastic than it is. If you have missed payments on your file, an accompanying note to explain everything is all good will go a long way, getting yourself on the electoral poll too – all these sorts of things will go a long way in making you more appropriate to lend to.

 

  1. Research Everything

To make the right decision, you need to have all the information you can at your fingertips. That means knowing what your ideal location is, what compromises you are happy to make, what the schools are like, the tax band, the commuting distance from work, transport links, crime rates etc. But don’t stop there. Another thing that is crucial is you view any property more than once and at different times of the day. It’s easy to jump the gun and put an offer in as soon as you’ve seen a property. But don’t.

 

  1. Picture The Dream

This has to be the most enjoyable part of the process – the dreaming. Think about how many bedrooms you want or need, how many bathrooms you would like, which way the garden would be facing, off-street parking, semi-detached or detached, apartment or house. We all have our own list of criteria when it comes to the actual property, so have your wants listed out, and then circle those you won’t compromise on.

 

  1. Get A Good Agent

When you are looking for a home, you need to know the agent is on your side and knows exactly what you are looking for. That means going into the office and having face-to-face conversations with them, discussing everything in detail, and being friendly with them. Trust us, if they know and like you, they will be more likely to think of you when a property comes onto the market.

Please follow and like us:
0
Follow by Email
Facebook
Google+
http://beachylady.com/category/buying-a-house">
Twitter
YouTube
Pinterest
Instagram
Visit Us On TwitterVisit Us On FacebookVisit Us On PinterestVisit Us On YoutubeVisit Us On Instagram