Buying your first home is an exciting time, but also one potentially full of pitfalls. The home buying process can be complicated and seem quite overwhelming at times. But, with the right support, professional services and a structured, ordered approach, you can speed things up as much as possible and look forward to moving into your new home.
With that in mind, here are five of the most common mistakes that new buyers tend to make – which you can avoid.
1. Not appreciating the costs
Buying a house is an expensive business and there are often a number of hidden costs that spring up along the way. You’ll need to pay fees for your mortgage arrangement and the valuation feees, the costs of removals and storage, stamp duty, legal fees, surveyor fees, home insurance and odd fees that are applied for documentation transfer and payments.
Some of the fees are small but they add up. Make sure you have a clear and transparent schedule of all fees, plenty of money in the bank and access to lending that you can afford. This also means only taking on a mortgage you can afford, with some wiggle room. Don’t over-extend yourself and find yourself facing financial difficulty several months into your new purchase.
2. Not doing your research
Forewarned is forearmed so do as much research as you can on your chosen residential area and houses within your budget. Find out about local amenities, road networks, public transport, access to services and local information on land, the proximity of water, any subsidence history etc. Find out how much other houses in the area are going for too so you have an accurate ballpark for making offers.
3. Using the wrong professionals
When you need conveyancing Rugby may have various businesses to contact but it’s important that you choose a high-quality provider with the necessary accreditations and a great track record. Contact Sam Conveyancing to find an effective, efficient conveyancer who can help you to achieve your purchase without delays.
4. Choosing heart over head
You may fall in love with a house as you walk through the door, but it’s vital to know that it will actually be right for you. Have a list of ‘essentials’ and stick to it so you can truly and objectively assess what is likely to be the most important purchase of your life.
