House Buying - Moneysaving Tips

MigsyBigsy

Hello all,

I am sure this has been discussed, but not able to locate the page.

My query is concerning my options. Unfortunately I earn uder £20,000, but I do have a deposit of about £30,000.

It seems like the shared ownership is my only option, as buying outright would be impossible.

What do you think?

Andyfrain

You should work out how much money you can afford to spend on the whole project. Break this down so that you know how much you want to spend on the property, how much you are allowing for renovation work and how much you intend to make. You need to be sure you can get a high enough return to make it worth your while. A house flip is actually quite a complicated project which needs a lot of work in order for it to work well. You need to get ideas how much other people can sell similar homes for in the areas you're looking at buying in. You can also talk to your real estate agent and ask them for advice.

namratasnv

Hi,

I am a newbie here and all the points that are mentioned here are very serving as, if we follow all these points then it is no doubt beneficial for us to figure out exactly what we want as, these tips are very helpful in buying proper house or flats as, it is sometime becomes very neccessary to do some negotiation with price.

Thanks!

namratasnv

Hi, I would only suggest you to be patient as, dont spend alot as, keep it as a saving and later get the flat for you which will not going to put a burden on you.

Thanks!

Andyfrain

Is this your first time taking the plunge into the home buying waters? Well then, congratulations! Home buying is one of the best things you can do to increase your net worth. Home buying can be fun - visiting open houses, making a list of the things you must have in your home. But home buying also is one of the most complicated tasks any of us ever undertake

1stimebuyer

Hi all, this is my first post here and I'm just looking for a bit of advice. I've seen a house that I'd like to buy, it's on the market for £155k, it's been up for sale since the summer and the owner has moved abroad so it is currently empty. There is no chain and I'm a first time buyer with no chain, a deposit and a mortgage agreement. What do you think my opening offer should be? Thanks for your help..

Roxy2red

I think this sort of info is long over due...everyone seems to forget about the little people and our struggle with buying properties - we just dont have the knowledge and arent aware of our rights in these situations - a guide to buying is a great idea!!
Bring it on!:j

Hopejack

This thread needs a serious tidy up! Where is the money saving advice? All I can see is a lot of question threads on this page.....

hart.douglas

I can suggest one good method of saving money when buying, or selling a house,DO NOT USE ROBERTS SOLICITORS OF MACCLESFIELD, i have bought and sold over 20 properties over the las 30 years and used many different solicitors.

Roberts solicitors are unique in so much as they are still in business and demonstrate a level of competence only matched by our present pry-minister.

Roberts solicitors, use "associate" solicitors or possibly conveyancing agents, this means that if something goes wrong with your conveyance Roberts will not be held responsible, and neither roberts or the associate solicitor will except responsibility.

In my case the charge was suppose to be £149 for a purchase, it ended up costing me over £600. They have also managed to loose the title deeds and the land registry certificate, this means i have no deeds for my property or land registry details making it impossible for me to sell my property, without getting copies, this can be a very lengthy process and costly. Roberts response to this was. 0 will not make any effort to trace the missing documents.

I is a real shame the Law Society do not publish details of solicitors they are investigating....?

Caracul

Hi there, just been doing a fair amount of research on what I can get and borrow, and likely costs. I just wanted to know what a broker actually does? Do they just get mortgage deals for you and process them, because surely I can do that - I've been able to get several agreements in Principle already. Are they necessary, or nice to have if you aren't sure of how to proceed and how things work. How much are they, or do they always get a referral fee from the mortgage companies (and if so is there any way of getting that if you do it yourself)?

Also, is there a search engine/ list of places to get a solicitors for the buy? I've not searched the whole thread (in fact first and last page before work) and I've already seen someone warning people off a firm. I'd like to find something like the good garages scheme so that I can get a list like andy suggested with three differently located firms.

Thanks for anyones help..

James