Buying a house is possibly the biggest financial decision you will make in your life. Finding a suitable property for you and your family is only the tip of the iceberg.
What type of property are you looking for?
- Do you want to buy an old or a new house? Old houses may cost more to heat and maintain, while new builds are often more energy efficient and can sometimes come with a lot more modern fixtures.
- Will you be extending your family? Have there been any conversions or extensions on the property? Or is the property a listed building? This could impact on any planning applications for extensions or conversions in the future
- Will you need parking? It is important that should the property you choose not have a garage or driveway that you know what the local parking regulations are and whether you will require permits etc
This list could go on – however only you know what you want, it is important that you have looked into everything that would be important for you and that you are happy with the answers to all of your questions before putting an offer in on a property. When looking for that perfect home, it is vital to look into the area and consider the following:
- Is there a supermarket nearby? Accessible transport links? Your daily commute will have a big impact on your life
- What are the crime rates in the area like?
- What catchment area will you be in – are there any good schools near by?
- Do you feel safe in the area – it is always a good idea to have a look around the area in the day and at night to get a good feel for the neighborhood
- What are the Council Tax rates for the area?
Leasehold Vs Freehold
- Leasehold - This means that you have the property for the duration of the lease which can be 99 years, its then returns to the owner of the Freehold, however in most cases the lease would be renewed. There may be specific obligation written into the lease that you need to be aware of, such as maintenance and insurance. You will also have to pay the freeholder ground rent / service charges, usually a small annual sum.
- Freehold. The owner of the Freehold has complete control over the property and land subject only to planning and building regulations.
Getting a Mortgage
- It is important to shop around for a mortgage and to secure a mortgage in principal before arranging to view properties – this way when you find the right property, you will not beaten to it by another buyer. This will put you in a much stronger position for negotiating with vendors.
- Home Builders and developers often have very good deals available
- If your circumstances are unusual it may be worth finding a good “intermediary” such as a mortgage broker – do also ask them as to whether they search the whole market for mortgages or if it is just a small selection of lenders that they use – you will also need to confirm what their fees are?
- The term 'Conveyancing' refers to all the legal and administrative work associated with transferring the ownership of land or buildings from one owner to another. The conveyancing process starts after an offer has been made and accepted for a property, and solicitors' details have been exchanged by the two parties.
- Most people hire a solicitor or conveyacer to complete the legal process of buying their home. Although the cost for this service can be expensive – the prices for this service have come down in recent years. It is certainly worth the extra cost to ensure the successful completion of the purchase.
Are you ready to buy?, why not contact our expert sales team for more information.. we have a wide selection of properties available – CALL 01158533230