Home buying tips

For the best starter home buying tips, read on what is important to consider in any property before signing anything.

1. Finance. There are many things to consider before you go about looking at properties on the market, the most important of which is getting your finances in order. Firstly, get a ‘mortgage in principle’ in writing. Once you have an idea of how much you can borrow you can start looking at the rates on offer from potential lenders. You may also want to consider taking out a small loan to cover things like the deposit and valuation fees. Reputable banks such as Santander offer some excellent rates on personal loans.

2. Estate Agents. Visit as many estate agents in your chosen area as possible.You will be able to ask them questions relating to the area, which will give you a sense of the community before even looking at a property. For example it is a good idea to find out the average homebuyer’s age in your chosen area. This is important when you think long term, will you be surrounded by families or young professionals and which suits your needs best?

3. Home Insurance. Bear in mind that the area you choose to live in will be reflected in the price of your home insurance premium. Safe neighbourhoods, i.e. ones with low rates of crime, are cheaper. You can also take steps to reducing the price of your home insurance by investing in an industry-recognised burglar alarm, new locks and double glazing.

4. Research the area. Estate agents want to sell you the property so it is also important to do your own research and think about all aspects of your life to decide whether your chosen area is a suitable match for your lifestyle. Questions to think about include; what is the general impression of the area? Is it noisy or quiet? What facilities are available? Where is the nearest train station?

5. Talk to people. Recommendations or criticisms from people that already live in area can alert you to potential problems or plus points that you were unaware of – talk to people that work in local businesses too; they often have a good idea of the workings of a neighbourhood.

6. Ignore the décor! This is an important point to remember at all times; do not be swayed by the decor, good or bad. The same applies to the furniture, have the homeowners moved the furniture out to give an added impression of space?

7. Be objective. The most important factor in home buying is to try to be as objective as possible. It is also advisable to have someone else there to give you a second opinion, and insist on a home inspection by a qualified expert.