Here at Newnham & Jordan we know that purchasing a home can be a stressful time so we have come up with some top tips for buying a home.
Before Viewing
The biggest part of buying a property is the deposit. If you are taking out a mortgage on a property you will have to work out how much deposit you will need. Moneysavingexpert have a handy mortgage deposit calculator which will work out how long it will take to save for your deposit.
If you are a first time buyer you might be able to get help from a “help to buy” scheme. Click here to see what is available for you.
The cost
Work out the real cost of buying a property. Here are some costs to keep in mind:
- Mortgage Arrangement fees-Most lenders will charge an arrangement fee.
- Valuation fee-This is a fee the lender will charge to check that the property exists. The cost will vary on the lender and the price of the property.
- Legal fees-think about the conveyancing of the property. We offer fixed fee conveyancing click here to get a free quotation.
- SDLT-If you are purchasing a property more than £125,000 you will have to pay Stamp Duty Land Tax (SDLT) HMRC have a Stamp Duty calculator.
When Viewing
Damp– the Main signs that a property has damp are: Mouldy smell, watermarks on the wall/ceiling and flaky plaster. Make sure that you look closely at the walls, ceiling and skirting boards. But be careful because the current owner might have recently repaint the room to cover it up.
Space– Is there enough space/storage in the property for all of you possessions? Think about where the vacuum Cleaner, towels, spare bedding will go. Also think about the sizes of the rooms. Make sure there is enough space for your furniture. Sometimes sellers will put small or less furniture in to make the rooms seem bigger. Don’t be fooled.
Roofing– how old is the roof? Roof replacement is very expensive. So make sure that the roof is in a good state.
Sound Proof-Make sure you check how sound proof the property is. If the T.V or radio is on ask for it to be turned off and just have a listen.
Local area– What is around the local area? If the property is near a pub or bar you might find it becomes rowdy in the evenings. How close is the local shop? Will you be able to walk to get a pint of milk or will you have to drive. Is the property near to noisy roads or train tracks? If you have children you will need to know which school catchment area the property is in; is it on a bus route? Are local childcare facilities/playgroups?
There is certainly a lot to think about to ensure that your dream home is just that!
The Team and Newnham & Jordan are experienced in assisting their clients through the rigours of the house buying and selling processes so why not call us today for an informal, no obligation chat about how we can help you through the process?
This article is intended for general information purposes only and shall not be deemed to be, or constitute legal advice. Newnham & Jordan Solicitors cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article or any external articles it may refer or link to.
