Tips To Help You Buy A House
There has recently been a boom in the property market as homebuyers look to secure moves. However as a result, this could entice higher price listings, spark potential bidding wars, form a crowded market and have less properties for buyers to choose from.
Get a mortgage ‘agreement in principle’
Before putting an offer in for the property you’re interested in, you’ll need to get a mortgage ‘agreement in principle’. This is when you receive a confirmation of the amount the lender is prepared to lend you, in order to complete a property purchase.
If you have a mortgage agreement already in place ahead of booking in house viewings, it may give you an advantage over other interested parties in the property, as the seller will know you’re a more serious buyer and have the necessary finances to put an offer in place.
Along with this, the mortgage agreement will give you a better idea of the properties you can look at on the market, including the maximum budget you’re able to stretch too etc.
Look for houses under your budget
It may be an obvious one, but it’s worth considering properties that are under your maximum budget. This gives you the opportunity to put a higher offer in and fend off any potential competition as a result.
Do your research
Before you look to get the ball rolling, it’s worth doing some research and pre-planning on what type of property you want, the areas you are more interested in and the amount you’re willing to spend on a property. This can be done a range of ways, from looking at online estate agents or property sites to get a feel for the market, areas and styles of properties that are available.
All of the above will put you in good stead for when you eventually look to put an offer in for any property you’re interested in.
It’s best advised to try and remain free and available at any point throughout a property purchase process, as you will need to stay in touch with your property lawyer/solicitor to ensure a smooth transaction.
Also, it is important not to ignore anything that you misunderstand, as the process period can vary from buyer to buyer. Be patient throughout and take comfort in knowing that you are almost done with the paperwork!
Buying a house is one of the biggest decisions you’ll ever make, and it shouldn’t be rushed. But if you immediately fall in love with a house you’ve viewed and have done your research on the surrounding area, then it might be wise to put an offer in as soon as possible.
First and foremost, the sellers main aim is to sell their home, and as soon as possible. If you’re willing to put an offer in early, they are most likely to favour someone who is acting fast rather than those who are taking their time.
Don’t give up looking
If for any reason the property you were looking to secure does go off the market, don’t let it get you down, as there will be plenty of others that you’re sure to love just as much!
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Content correct at time of publication.