Buying your first home is one of the most terrifying, fish-out-of-water experiences a young adult will ever face. There’s nothing you can really do to make it easier, other than keep doing your research, choose a well-rated solicitor, and hope for the best. Here are a few other top tips to make the process ever so slightly less painful.
Be open minded
When you’re choosing the area in which you’d like to live, be open minded. Look for houses you’d like, and consider the area when you go for viewings. A ‘no-go’ area on paper might be absolutely fine when you turn up to look around.
Shop around for a mortgage
Don’t just accept the first offer you get, especially in this financial climate. Spend some time researching different types of mortgages, and working out what you can afford. You can even make this process easier if you check your credit report for free beforehand. This way you’ll be prepared for the responses you’ll get from mortgage suppliers.
Fork out for a survey
The property reports and valuations are not a survey – you’ll need to get one of those separately. It can seem like an unnecessary expense of a few hundred quid, but sooner you uncover any hidden problems before you hand over all your cash than after. Anything found in the survey can be used as leverage over the price too.
You have to be comfortable with every decision, every step of the way. Don’t let the vendor or estate agent hustle you into a situation with which you’re uncomfortable. Ask questions, and wait until you have satisfactory answers before you progress.
Trust your instinct
If you think something isn’t right, it probably isn’t. This might be the first time you’ve ever done anything of this kind, but it’s mostly intuitive. You’ll know if something isn’t as it should be.
Don’t lose heart
The process drags out way longer than you could ever anticipate. It can be months between having the offer accepted and getting the keys. Don’t lose faith; it will happen. Just keep plodding on. You’ll be moving in in no time.
Don’t let your relationship suffer
It will take its toll on your relationship. It’s stressful and tiring, and chances are you’ll both be experiencing the same stress. Keep open lines of communication, and make sure you make time to spend together relaxing and not talking about the purchase.
Keep it between family and friends
If you tell every Tom, Dick, and Harry, then you will have everyone always asking for updates. It gets really irritating to have to keep telling people ‘no we haven’t got the keys, soon hopefully’. Keep it between close friends and family until you’ve got something definite.
Enjoy it! Be prepared for frustrating and sleepless nights, and do your research and stay vigilant for hidden costs. But most of all, enjoy the process. The sense of pride at owning your own home at the end is completely worth it.
This is the first post of blogmas, not the most christmas inspired i know, but they will be eventually! I hope you’re all ready for a new post every single day until christmas!