Getting onto the property ladder and buying your first home is something that is becoming a lot more difficult for many young people. It can seem a long time for many people to save up a large enough deposit, and it take s a lot of hard work and sacrifice – and there is even an increasing trend of young people having financial help from the bank of mum and dad to get themselves onto the property ladder!
Once you have finally got all of the money together that you need to purchase your first home it can feel like a huge relief – but now is the time that the next part of the property buying process begins – you need to look into things like mortgages and finding the right conveyancer near you, such as Sam Conveyancing building surveys Birmingham.
The first thing that you need to do when you have got your deposit together is to find a mortgage that is right for you and to get a mortgage offer. It is important to shop around when looking for a mortgage, as they can vary a lot and you might want to get some professional advice from a mortgage advisor – after all this is probably the most expensive purchase that you will ever make so you want to make sure that you do it right!
Once you have done this and had an offer in principle, then you can start to look for properties, knowing what you can afford and what will fit in with your budget. It is a good idea to research the area that you are hoping to move to. You can get to know an area by walking around it at different times of the day, as well as looking online to see what is in the area that will benefit you – for example, schools, transport links and other local amenities.
It is a good idea to register with a few local estate agents and let them know what your requirements are for the property – as well as the area you will probably have a list of things that you want from your home. How many bedrooms, a garden etc.
Of course, depending on the area and the budget, what you can get for your money can vary wildly so be realistic – you may need to compromise a little bit. Have a look what houses sell for in the local area that you are looking buy in and see what you might be able to reasonably expect to get within your budget. This is a good time to draw up a list of must haves’ and ‘not essential but would likes’. Then the estate agent will be able to get a good idea about what it is that you are looking for and send you properties that fit within your criteria.
Once you have done this you will be able to have a look around some houses and get an idea – you don’t have to rush this process and you can go and look as many times as you want. Happy House Hunting!