1st time buyers

ihatemoney_2

My self an my partner are looking into buying our 1st home together, any and all advise welcomed

Many thanks

scottn

save a large a deposit as you can afford and then save some more.

don't jump in and buy until you have that.

brit1234

Save a large deposit and enjoy watching prices plummet.

Uncle_Rico

ihatemoney wrote: »

My self an my partner are looking into buying our 1st home together, any and all advise welcomed

Many thanks

Rent together first for at least 6 months. If you can still stand the site of each other after that, then think about buying. :beer:

poppy10_2

Buying a house is a huge financial and personal commitment, I'd agree on renting for 6-12 months first.

ihatemoney_2

Many thanks for the advise on renting, altho we have been living together for a while now and are ready personally to buy jointly we feel. We have a reasonable deposit to put down already. Can anyone recomend mortgage providers or "must do" advise

amny thanks

consumerpower

Are you looking at an area you already know about?

Draft a list of things you would like the property to have. and questions before you go to any viewings.

KiKi

Seriously - it's probably worth waiting at the moment as prices are likely to fall (of course, nothing's guaranteed).

However, as you're asking:

* Work out what you can afford mortgage wise - including what you could afford if mortgage rates shoot up.
* Bear in mind ALL costs associated with moving (I'd suggest budgeting £2K or so, plus deposit, plus Stamp Duty).
* Use a Whole Of Market mortgage broker to get the best deal
* Have a deposit of at least 10% of the purchase price
* Use a recommended solicitor / conveyancer - and make sure UP FRONT you get ALL costs listed by item and how much each one is (there may be additional costs if the sale is complicated, but there are standard costs which you should ask for)
* Make sure you know whether solicitor / conveyancer costs are inclusive of VAT or not
* Wait for a while to see what house prices do. Renting appears considerably cheaper at the moment in many areas, and prices seem likely to fall so you may be better off waiting right now

Hope that helps.
KiKi

Conrad

"Must Do" = never ask parents advice

dolce_vita

There is lots of information in the "stickys" on the threads page.

You can also have a look at these websites:

http://www.firstrungnow.com/

http://firstrung.co.uk/default.asp?pagekey=1

http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=406660&in_page_id=58


I would suggest staying put for a while and saving even more money.

See stock answer #2 in my sig.

good luck whatever you decide

takoo

Hi Ihatemoney

Do you want a house or flat.

You could consider an an eco-home for money saving on fuel bills and SDLT(?).
You could look for other cost savings in:
1 a location for short journey(ies) to work
2 lower SDLT in certain areas.

If you are aiming to start a family consider the "quality" of nursery schools and local primary schools (particularly if they are linked) - info should be on-line etc.

I could rabbit on.
Best of luck for the New Year "entreprise.

Takoo