Buying a house is very a daunting prospect especially for a first-time buyer. It’s a big decision to take financially and hard to do without professional help. The important thing is to relax and take your time. Put together all the important factors to consider during the process of buying a house and work through them step by step, such as financing, maintenance, and mortgage. Here is a basic checklist of things to think about when buying a house.
Once you’ve found an affordable property you’ll be going through a lot of background checks before you can set up your financing, therefore, it’s vital to check that all your affairs are in order before this. Make sure you have forgotten anything, even forgetting the tiniest bills or taxes that haven’t been completed. If you have any other loans it’s a good idea to get these out of the way first. Set yourself up for a clear credit check so that you’re good to go.
There are mortgage calculators online to help you analyze your options. It can be difficult to get a mortgage depending on your style of work. Don’t worry as often there are advisors who specialize in certain fields, CIS Mortgage for Construction Industry Scheme (CIS) subcontractors for example. Once you have figured out your financing, you will already feel much more comfortable and knowledgeable.
Ensure that maintenance checks either have been or will be carried out for damp, security, and seeing if all fixtures work or need replacing. Have a look round the house yourself when you view it and test the electrics, make sure you get all the switches and outlets, check the water in the taps runs clear, check the gas and make sure you can get cell signal. These are all essential things you won’t want to live without and that will cost to be repaired.
Many potential buyers often overlook this, but it’s an important one. Check the water pressure in the bathroom, no one wants a weak shower. These little details can be essential to making you comfortable in your new home.
You’re all going through the necessary checks so why not vet the seller too? Find out what you can to see if you get a good vibe from him or her. This might seem a bit sneaky but they’re probably going to the same to you.
Have a surveyor come round to check for any faults and necessary repairs. Inspections are a standard procedure before buying a house. Surveys and repairs will cost you, but it’s essential that you make sure everything in your new property is in working order.
Go through the contract with your estate agent and that you comprehend everything that is expected of you and the seller. In the unlikely case that something does go wrong, it’s vital to know when you can pull out of the contract. Find out how long you have to shake hands on the deal.