Sunday, 30 October 2016

My Top Tips for the House Buying Process

I never thought it would be easy when it came to buying a house, never mind the fact that it'll be our first house. Even though we haven't actually officially bought our house yet we have still had some experiences which I thought would be quite useful to share with you guys, just in case you're in a similar situation or plan to be in the future.

1) Compare Mortgages and find the best one for you - Check out the various comparison sites and find the one which is better suited to what you're looking for; don't forget to keep an eye out for those extra fees as we managed to get a mortgage with nationwide with no additional costs, so they definitely are available!

2) Research into Conveyancing solicitors of your own - When doing some research online before starting the home buying process I found out that you can actually go through your mortgage provider to hire a conveyancing solicitor which would probably be a lot easier, but you would most probably have to pay extra in comparison to hiring your own conveyancer. We were quoted just above £900 for a solicitor from nationwide but managed to get a highly recommended solicitor for just £730 (don't forget every bit of extra money you have can help towards buying that beautiful sofa, or like in my case maybe even a dressing table!).

3) Obtain an agreement in principle/decision in principle from your mortgage lender - This is a very important step as it shows both the estate agent and your chosen solicitor that you can actually pay for the house, plus gives you peace of mind that the bank are actually willing to confirm they will lend you the money you need.

4) Get a home buyers report  - We put an offer in on a property we had fallen head over heels in love with; the interior of the house looked absolutely beautiful and everything seemed to be in such a great condition, however all was not as it seemed. The house was valued at a whopping £6000 less than what we had offered, the chimney was bulging (and could collapse at any minute), both the house and extension roofs needed completely redoing and there was damp throughout the house in the main walls - and they were just some of the issues with the house! So, we reluctantly withdrew our offer much to the dismay of our estate agent who seemed overly persistent in his attempts to get us to move forward with the purchase (and in fact was pretty rude in doing so too!). Without the report we would be stuck with a property needing thousands of pounds of work doing to it, so I would 100% recommend getting it done or of course a more in depth survey. 

5) Ask the seller lots of questions - Why they are looking to sell? Have they had any major work done to the property? What are the neighbours like? This will help you to get a general idea about the property and area which is essential when considering whether or not you want to pay out thousands of pounds for it. 

Hope this helps with your house buying journey!

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