Buying your first home is an exciting prospect but the reality is that it can be an extremely overwhelming and stressful time, especially if you’re not clued up on everything it takes to get your hands on the keys of your very own property.
There are so many things to consider before you even put in an offer for a property – with that being said, we’re sharing some of the most important factors you must look into before deciding on investing in your first home.
RESEARCH THE AREA
Buying a house is a huge investment and probably one of the biggest investments you will ever make in your life so it is so important to research the area you are looking to live in.
It’s one thing finding the perfect home for you and your family but it’s another thing finding the right area to raise a family and invest in property in.
Checking out schools in the catchment area, crime rates, neighbourhood settings, noise pollution, accessibility to public transport, supermarkets and essential facilities will all be imperative in making sure that you are making the right decision on your new home.
WORK OUT THE ‘HIDDEN COSTS’
It certainly isn’t as easy as getting your mortgage offer accepted and the keys in your hands by the following week, there are many other costs and legal requirements that need to be met before you can settle into your new home.
- Mortgage arrangement fee
- Valuation fee
- Legal fees
- Stamp duty
- Surveys
- Removal costs
- Furniture and fittings
GET YOUR FINANCES IN ORDER
Making sure that you have your finances in order will be essential for a smooth purchase of your first home and making sure you have put enough money aside beyond your deposit to ensure you can cover all the aforementioned costs and also having a budget for changes that need to be made alongside any other fees you may incur along the way will put you in good stead to keep your application and process on track.
FIND THE RIGHT ESTATE AGENT
If you haven’t found the home of your dreams yet but you’re ready to buy your first property, finding an estate agent who has excellent knowledge of the area you are considering moving to and allowing them to bring property options to you that fit the needs and demands of what you are looking for can be really handy.
If you are looking to purchase property in central Birmingham and the surrounding areas, Asset Residential can help you find the home you’ve been dreaming of by using our expertise in the market and broad knowledge of the area – get in touch today.