First time buying tips

Being a first time buyer isn’t easy, so its always worth considering some of the following points, when hunting for you first house:

• Try and spend as much time on hunting for the right mortgage as you would with hunting for the right house. Having right mortgage will save you more in the long term.

• The key is to research. The more you know about a house and its surrounding area, the better position you are in when it comes to making that important final choice.

• Be realistic about the amount that you can afford to pay back each month. Consider all other out going costs once you have moved in, such as electricity, gas, water, fuel bills etc.

• Most lenders will offer you three times your annual salary. Some may offer you more, but this would mean you would have to have a good credit history, and the interest repayment will be higher. So consider saving for a bigger deposit, if you’re not in a rush to buy your house, to reduce the amount you’ll need to borrow.

Also consider some of the other attributes that you might need from your property.

Below are some suggestions of these attributes:

• Size of the house.

How big do you need the house to be? consider storage spaces. If you are thinking about buying a 2 bedroom house, think about whether it will be enough to store all your possessions, or even spare furniture’s. Maybe you may want to consider a 3 bedroom house if you don’t think it will be large enough.

Keep in mind that maybe you might want to start a family in the future, again, think about whether the size of the house will suffice if that does happen.

• Property features.

Are you looking for a garden or would you preferred paving? Having the area around the house paved over would mean there will be less effect involve in keeping it clear and clean.

Having no garden would require less up-keeping, but you would lose out on the functionality of having such a feature. A area to entertain family and guess during special gatherings. A place to relax and relieve the stresses of everyday life, and many others functions.

Having a garage doesn’t just mean a place to keep the car, it also can act as a storage area. Another positive about having a garage is the space above it. If it happens to be a flat roof, it is always possible, if permitted, to build another room on top of it. Not will this give you more space, but it also add value to your house.

• Amenities.

Shops, Hospitals, Airports, Schools are some of the example of amenities which you might want to have in mind on your property search. Make a list of what is most important to you and sort them by most to least important. This will help you decide quicker when choosing the right property.

• Distance to work.

Consider how far your work will be from the property. This is a journey that you will take for most of the week,so if its close to where you live, you will save a significant amount of travelling costs.