Collaborative post
Buying a house is one of the longest and most stressful tasks you will do as an adult. During the time it takes you to buy a house there are a lot of factors and steps involved which many of us simply aren’t aware of until you actually go through it for the first time and by that point it can be a very daunting experience.
Establish costs
When moving into a house for the first time it is important for you to know your worth from the off. Buying a house can be an expensive business and it is not as clear cut as you might think. As well as the deposit for your home, you will need any of the following:
- Solicitors fees
- Stamp duty
- Money for bills
- Money for moving
- Money for furniture
There are a lot of things you need to invest in for a house and you need to be sure that you can gather all of the supplies you need as well as pay bills without going out of pocket.
Find out how much you can borrow
Once you know how much money you have as a deposit it is time for you to see what price of house you can afford. Most lenders will have a mortgage calculator on their website so you will be able to input your income information and this will allow you to see how much you can buy. You can then look at getting secured homeowner loans from Evolution Money or a bank.
Start searching
Once you have that value in your mind of what you can afford, it is time to take this budget and start looking for a house which fits it. Searching for a new home is an amazing thing and it will be one of the most fun parts of the journey. Narrow your search to a few options and drive around to them to see what they look like from the front. This will allow you to see things such as amount of light in the house, the neighbourhood, and how busy the area is.
Arrange a viewing
Once you have decided on a few houses that you really like, it is time to arrange a viewing inside the home. A viewing can be an exciting part of your home buying process and it can be tempting for you to run around the house and simply find excitement in the process. But also remember that you are here to make an investment and you need to inspect the home for things such as damp, cracks and subsidence. These are all common issues and ones which can drive up the cost of your work when you move in. Make sure that the house is up to scratch before you jump in.
Make an offer
As soon as you are happy with a house you should make an offer straight away. It is always best to try and haggle to start off with on a new house because you will be able to save yourself some money. Try asking for 10,000 under what they are asking for and see what they say. If they say yes, great. If they say no, go up to 5,000 below and see what happens. Sometimes a buyer won’t budge from the asking price but it is always worth asking to see if you can move them.
Find a solicitor
Once an offer has been accepted through the estate agent it is time to get a solicitor. This is the point where you will need to sit down and give your information so that the solicitor can draw up a contract. Make sure every piece of information you give is accurate.
Complete the application
The application for a mortgage will take a few weeks to go through and in the meantime they will run a homebuyers report on the property to ensure that it is safe and secure for you to move into. Once this part of the process is done you can relax and start to really plan for the rest of the process.
The contract
After a while you will be sent a contract through from the seller’s solicitor and this is the contract for the ownership of your home. It is important here that you take the time to read through the document again and again and make sure that everything is correct before you sign it. Once signed you can send this off and you will now wait for the exchange of contracts which will often give you a moving in date.
Planning the move
Once you have signed the contract and prepared everything else for the home it is time to pack up and get ready to go. If you live with parents you likely won’t have white goods and furniture of your own but it is a good idea to buy some before you move. Hire a self storage unit for a month or so and start to collect things you will need for the home. This is something which is super important because it will allow you to plan out the move and settle in within a few days with everything you need to live comfortably.
Get the keys
The final stage of the home buying process is the day you go to pick up the keys. Moving day is an important thing and it is advisable for you to head to the home before you start moving items in so that you can clean the home top to bottom ready for your items. Get family and friends to help you move in and this will be the most amazing couple of days of your life, and it will mark a whole new chapter of your life. Get in and enjoy, and make sure to read the meter before you start using energy!
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