to those buying in these difficult times! AKA buyers support network

Doshwaster

Greetings all - do you mind if I join your club?

My name is DoshWaster and I'm a single first time buyer. Been renting for ever and it's about time I got onto the housing ladder.

I'm looking in the £140-160k range with a £110-120k mortgage and up to a £30-40k deposit (been saving for what feels like ever). Around here that should get a fairly decent 2 bed house or a 3 bed (lodger potential?) in need of some work.

I'm a total virgin at this. I have spent the last few weeks looking at estate agent websites and online mortgage quotes... then a few days ago I took the big step and walked into an estate agent. And then another one, and another one...

So, I have a few viewings lined up for tomorrow and a few more next week. Some at the top of my price range, some at the bottom - I'm just trying to get a feel for what my money buys and what compromises I may need to make.

The trouble is, I have no idea what happens next - offers, surveys, the legal stuff, insurances, mortgages...

Looking forward to your support.

tiggerjj

welcome Doshwaster,

a couple things i have learnt

for house viewings, take a notebook with you and soend 2mins after each house writing down what u like and did not like and a mark out of 10. Because after the 10th house you cant remember what bathroom was in which house!!

so when you find one you like, have a second viewing, take someone with you and take your time, I kinda shocked the agent, by taking my shoes off climbing onto the banister to have a quick look through the ceiling hatch! was kinda good as i saw some flashing repair that was needed!

when you make your offer, have everything planned and make the phone conversation short, dont show your hand.

i would go and see a mortgage broken/IFA now if i were you, whole of market of course I got loads of good advice from London and County (free)

there is loads of advice on the forum, dont want to repeat it all so just thinking of smalls bits and pieces

oh yeah dont be crazy and try and do the whole thing from the wrong side of the Atlantic, I am doing that at the mo!

Oh and hassle ppl, most of the time you are paying for them, so make them work for you,

good luck with the viewings....!!!

fraser

found out yesterday we had been gazumped, by over 35k ! crazy price, certainly not a level we would go to.

the sellers wanted to know if we would better the offer! no thanks you can shove it was my response - no way we would over pay in this market

really annoying as our offer had been accepted, house was sstc and off the market. agent said they had not given the new offerers any hints - i don't believe them at all

Doshwaster

tiggerjj wrote: »

good luck with the viewings....!!!

Just got back from my first few viewings (EA was 30 mins late though...)

First one. Quiet estate road, towards the top of my price range but everything I have been looking for. Needs a few odd-jobs doing but nothing major. 8/10

Second one, a few doors down. Smaller than the first but in in absolutely A1 condition apart from cat hair everywhere, Just didn't get a vibe from it. 7/10

Third one, towards the bottom of my range. Bigger house but not in great condition and in a not so good area. 5/10

I have promised myself to see at least 10-15 properties to get a feel for the market and not to fall in love with the first place I saw - but, at the moment, the first place is at the top of the list.

Isn't this fun? At least it is until I have to start spending money.

partlydave

Doshwaster wrote: »

Just got back from my first few viewings (EA was 30 mins late though...)

First one. Quiet estate road, towards the top of my price range but everything I have been looking for. Needs a few odd-jobs doing but nothing major. 8/10

Second one, a few doors down. Smaller than the first but in in absolutely A1 condition apart from cat hair everywhere, Just didn't get a vibe from it. 7/10

Third one, towards the bottom of my range. Bigger house but not in great condition and in a not so good area. 5/10

I have promised myself to see at least 10-15 properties to get a feel for the market and not to fall in love with the first place I saw - but, at the moment, the first place is at the top of the list.

Isn't this fun? At least it is until I have to start spending money.

Good luck with your search.
I know its a cliche, but location is very important especially from the point of selling again later. IMO you're better off in a bad house in a good location than a good house in a bad location.
Check out http://www.upmystreet.com which will give you some info about the areas you are looking

Doshwaster

partlydave wrote: »

Good luck with your search.
I know its a cliche, but location is very important especially from the point of selling again later. IMO you're better off in a bad house in a good location than a good house in a bad location.

Yes, I suppose that's true. You can always make a bad house better, but you can't do much to improve the location. The third place I saw was a bad house in a bad location. You could have spent £10,000 on improvements and not see the value increase

Hauzen

Still waiting on my mortgage offer coming through... won't be able to rest properly until it finally comes, no matter the reassurances I'm getting from the mortgage broker. As soon as it comes through then we can move to completion and that's that... hopefully this week!

tiggerjj

fingers crossed for you Hauzen

surreybased

fraser wrote: »

found out yesterday we had been gazumped, by over 35k ! crazy price, certainly not a level we would go to.

the sellers wanted to know if we would better the offer! no thanks you can shove it was my response - no way we would over pay in this market

So sorry to hear that - I think you took the right approach, crazy to get into bidding wars. I wonder if the valuation will back up the price, you might find it back on the market again!

Milliewilly

tiggerjj wrote: »

welcome Doshwaster,

a couple things i have learnt

for house viewings, take a notebook with you and soend 2mins after each house writing down what u like and did not like and a mark out of 10. Because after the 10th house you cant remember what bathroom was in which house!!

so when you find one you like, have a second viewing, take someone with you and take your time, I kinda shocked the agent, by taking my shoes off climbing onto the banister to have a quick look through the ceiling hatch! was kinda good as i saw some flashing repair that was needed!

when you make your offer, have everything planned and make the phone conversation short, dont show your hand.

i would go and see a mortgage broken/IFA now if i were you, whole of market of course I got loads of good advice from London and County (free)

there is loads of advice on the forum, dont want to repeat it all so just thinking of smalls bits and pieces

oh yeah dont be crazy and try and do the whole thing from the wrong side of the Atlantic, I am doing that at the mo!

Oh and hassle ppl, most of the time you are paying for them, so make them work for you,

good luck with the viewings....!!!

I also take my digital camera (and ask if its OK) and a tape measure to measure the garage as these dimensions are often not on the details and I need to know if my car will fit.