5 Steps To Buying A Home | Harrison’s Solicitors
Whether you’re a first-time buyer or an avid property flipper, the nerves will never go away. Buying a home is one of the biggest investments most of us will make so it’s vital you’re doing it when you’re informed. It’s important that you do your research so that you can understand the process. This will help you avoid shortcomings that can end up costing you thousands. We’ve written a short guide for anyone who is looking for advice and information about buying a home. It can be difficult to find accurate information that is relevant. We’ve tried our best to stick to simple but informative tips so you can make use of them when buying a home.
1 – Ask yourself if buying a home is a good idea
This might seem like a silly point to discuss but it’s important to think about your own situation. Before you start your house hunt, you need to consider whether not buying a home is suitable for you.
Whether or not a home is a right call for you will depend on a range of factors. Cost is a huge one since you’ll have to be in a position where you can pay for a home. 86% of people in the UK want to buy a home but it’s not always going to be right for them. You might be in a particular time in your life where waiting out might be better.
If you’ve read the above and it’s not causing doubt in your mind, then you’re most likely in a position that makes buying a house a good idea.
2 – Sell before you buy
This point might only be applicable to existing homeowners looking to upgrade but it’s still a very valid point. As exciting as searching for a new home is, it’s important to know how much money you’re actually going to have. If you’re moving home to upgrade/downgrade, your budget is going to be dictated by the sale of your house.
Selling first means that you’ll have the capital to pounce on your dream home if you haven’t found it already. You’ll also escape the dreaded housing chain.
3 – Decide on your budget
This point relates to the previous point as budget is a vital part of buying a home. Budget will dictate almost everything when looking for a new home. Realise your budget and know your constraints. Stretching your budget to buy a dream home is great but not when it’ll bankrupt you.
You’ll also have to think about on-going costs and whether or not they’re worth considering. Hidden costs can add an extra 15% on the cost of your home. If you’re buying a property to renovate, this should be a huge consideration
4 – Research where you want to live
To some, deciding on where you want to live might seems trivial. This is likely an error as the choice of where you want to live is important. If you’ve bought a home to live in, it’s unlikely you’ll be moving out any time soon. This makes your choice of area important since you’ll be living there for years to come.
A good way to research potential areas you’d like to live in is by considering your own requirements. Take a look at your own needs and see if the areas you’re looking at fulfils them. If not, then it’s a sign to keep looking. If you’ve found an area that ticks all the boxes, then you may have found a keeper. 5 – Work with professionals
Working with professionals before and after you’ve purchased the home is essential. Your home is your castle so you need to pick those that are acting on your behalf as such. You wouldn’t want someone who you couldn’t trust or depend on working on your home would you?
Work with professionals who are deserving of your trust. Conveyancing solicitors that are acting on your behalf need to be trustworthy. Working with them on such an important matter should receive the respect it deserves.
We hope you’ve found our article useful. Have you got any home buying tips? Harrison’s Solicitors are a reliable provider of conveyancing. With offices in Reading, Caversham & Woodley we’re able to service surrounding areas with professional conveyancing services.