first time buyer

eljacko

hi all
Im about to step into the property market and to be honest i havnt a clue.
Would anyone out there be kind enough to point me in the right direction,for example a list of absolute must do's or haves.
cheers :beer:

Fairdo_2

First point would be to look at the top of this section and see the £000's of house buying tips section (2nd in at the moment).

I wish I was clever enough to put it as a link.

I would also suggest that, if you have the time and inclination, read through various threads in the Mortgages/Endowments section and this section.

If you have any more specific questions from this, by all means post a query and there should be several answers available from professionals and kind contributers who have experience of the process. I think it was Robert Streling on a recent thread here that has put a link to a book available about house buying, mortgages, etc which may be useful. I'll try to find it and edit my post accordingly.

Welcome, by the way.

The link is in "Advice needed please FTB"

Robert_Sterling_3

How to buy a house ...Right Click on this link

terrierlady

The link above explains all but you must have truth in working out your budget and what you can really afford its so easy to get swayed an extra few thousand,remember people need to eat and have some social activities too, good luck let us know how you get on their are some great experts to help you on this site from various fields which you may need so remember ask away.

eljacko

thank you i will :beer:

eljacko

thank you i will

MrBen_4

There's a website dedicated to first time buyers here: http://www.firsttimebuyerhelp.co.uk/
Just spotted it the other day.

vultura

Good luck and happy hunting eljacko.

Might also be worth talking to a Independent Mortgage Adviser in your area. The one I spoke to has been very helpful and honest with me.

You can search for one here - http://www.impartial.co.uk/

morwenna_macro

As a recent first time buyer I suggest RESEARCH is the key. Know what area you would like to move to and look out for up and coming areas. Assess what the going rates are for the type of property you would like - you may get more for your money in some areas than others. Assess what is really important, eg no of bedrooms, garden, location and rank them - you could end up paying a lot more for something you do not necessarily want, eg garden. I used https://www.nethouseprices.com to research prices recently paid in the area I was looking at - there can be a huge differnce between asking prices and prices paid. Use estate agent websites to pre-view properties (so disgarding those that are eg too small or don't fit requirements rather than wasting time viewing them) - I found those sites with floorplans particularly helpful. Get a mortgage approved in principal asap and a solicitor lined up as this ups your bargaining position - you can't get better than a FTB with finance in place and ready to move. Do not tell the estate agent your real budget - eg if your real budget (for the perfect place) is £350k, say you are looking at £300k, but can possibly stretch a little. Lastly, don't be afraid to stick to your guns on offers and to put in an offer much lower than the asking price. Asking prices are usually higher than the property is really worth or that the vendor will accept, you must play your excellent position to full advantage (a higher offer by someone else may not be better than yours if they for example are part of a chain), and you never know... Finally, be friendly and interested in both the estate agent and vendor, but never forget that the agent works for the vendor and is on commission (higher sale price = higher commission). It worked for me. Good luck!

eljacko

MrBen wrote:

There's a website dedicated to first time buyers here: http://www.firsttimebuyerhelp.co.uk/
Just spotted it the other day.

thanks :beer: