When it comes to buying your first home, you need to make sure that you are choosing the right place to spend the rest of your life. It is a decision which will take a long time and a lot of considerations. Here are some of the best tips to follow when buying your home.
Buy or rent?
When it comes to choosing a property to live in for the rest of your life, you need to think about whether you want to buy or rent. If you plan to spend the next 30 years of living in the same place with your family, buying a home can be ideal for you. However, if you are still focusing on your career and you haven’t decided what you want to do for the rest of your life you need to consider renting instead. Renting gives you the freedom to move around and travel while you find your forever home.
What can you afford?
Houses are becoming more and more expensive as the years go on, and it is becoming very difficult for anyone to get their foot on the property ladder. Make sure to check the property market thoroughly when looking for a home and think about applying for a mortgage in principle to give you an idea of budget. This will give you guidance when searching for a home and will allow you to make the right decision for your property.
The most difficult part of buying a house is likely the saving you have to do to afford the deposit in the first place. You can spend a few years saving up enough money for a deposit on your home, and it can be difficult to know where to start with saving. Try cutting down on your spending for the next few months and think about avoiding doing expensive activities. Saving up can be a little boring while you do it, but the reward you get by the end of it is worth every night out you miss along the way. Once you have your home, you have the freedom once again to go out and do the things you enjoy.
Finding the ideal home
Choosing the home which you want to move into can be the longest part of the process, and it will take some time to find that property which has everything you want. Make sure to write a list of everything you need from a home including the number of bedrooms, the size of the kitchen and the garden. Think about the location you want to live in and make sure that you are able to get to your work and see your family.
Applying for a mortgage
When you have found a home which you love that is in your price range, you will want to make an appointment with a mortgage advisor and apply for a mortgage. The advisor will guide you through the process, and with their help, you will be able to decide what length of term you want to go for as well as the monthly payment you can afford.
View the property
Viewing a property is so much better than seeing it on a screen. The moment you walk into a home you will know whether it is right for you or not. A home should immediately feel warm and welcoming, and you should easily be able to envision your own furniture sitting in the home. If you are able to imagine yourself spending your future here, you can be sure that you are making the right choice on your new home.
Perhaps one of the tensest times you can have when buying a home is the wait you have after putting an offer on the property. Making an offer on a home can be stressful, and you might want to haggle a little bit if you believe that the home isn’t worth what it states on the advert. However, if this home is one that you really want, you should put the full amount on it right away because if you don’t, you will risk someone else buying the property instead. Once you have had your offer accepted it’s time to start looking at the other parts of the buying process. This is when it gets real.
Home buyer’s report
Before you think about signing a contract for the ownership of a home you need to look into getting a home buyer’s report done on the property. You need to make sure that you are able to move into the property and be safe. When you view the property there may be underlying issues like damp or rot which you simply don’t notice, and a report can point out these issues before you commit to the home. It will ensure that you are able to move into this home safe in the knowledge that you made a good choice.
Exchanging contracts and getting the keys
Once everything has been agreed upon, you are ready to exchange your contract and take that final step to homeownership. Signing the contract is the last step of the buying process, and once you have done this you can go ahead and pick up the keys to your new home!
Once moving day comes around you will have a few options of how to transport your items to the new place. The first thing you can do is hire a professional moving company to take your goods to the new home, however, this can be quite expensive. Instead, you can either hire a van from a company like Hertz or borrow a van from someone you know for the day. Moving your things yourself is much cheaper and it means that you don’t have to wait around for the movers to arrive.
After moving in
Once you have moved into your new home, there are many different things you need to do. The first job which you should consider doing is changing the locks on your home. Although you were given the keys when you bought the home, it doesn’t mean that there aren’t other people out there who might have access to your home. To make sure you are completely safe and secure change the locks and only give them out to family members that you trust.
The next thing you’ll want to think about is your energy and water bills. Make sure that you take a photograph of the meter readings when you move in, and then call up the previous owner’s energy supplier and either make a new arrangement with them or choose someone new. You can use the meter as evidence of how much energy to have used since moving in the home and this will ensure that the payments you receive are accurate.
When you move into your home, the first thing you will likely want to do is plug in the TV and enjoy a movie in your new home. It is important to remember that some countries like the UK require you to have a TV license, so make sure you pay this right away. You will also want to look into broadband and a phone for your home. Broadband will often come with a TV and phone package attached to it, and bundling these services will save you a lot of money. If you don’t think you will use a phone you don’t have to have one!