Five things you need to know before you buy a home

February 4, 2016

Find a mortgage that works for you

Figure out exactly what you can afford in terms of mortgages, this is your first port of call to help you manage your own expectations. From there you can think about what sort of property you can expect to set you sights on. Speak to an Independent Financial Adviser (IFA) or your bank to get expert advice on how much you can afford. Remember that there will be extra costs you will need to factor in through several stages of the buying process, including stamp duty tax and your deposit. And that’s just the bear bones, there is the additional costs of solicitor’s fees, the survey fee, home insurance and of course furnishing the property.

Line up cash

Make sure you have the available funds. You’ll need to come up with cash for your deposit and extra costs. Lenders will like to see 20% of the home’s price as a deposit. Make sure your cash is stored in accounts that are easy for you to access, quickly.

Get to know your agents

Get to know your local agents. Here at Waltham Estates we dedicate the time to getting to know who our buyers are and what it is they are really looking for in a home or property. It is always worth your while to pop into our office, where we can register you with us and find out what your requirements in fact are.

Get a surveyor
Trust us, this is an important one and alarmingly one that’s often overlooked, in a bid to save costs. Once you’ve seen a property you like get a chartered surveyor to inspect the actual condition of the property you’re looking to buy. If any issues or abnormalities are picked up it could save you thousands in the long run.

Negotiate

The price of a property is never set in stone and there is always room to negotiate on these things. This is where a surveyor can help. Should he or she reveal property defects, you are well within your rights to request a lower price. It’s always good to haggle, you could be surprised.

At Waltham Estates, we love our local area. If you are thinking of moving to the happening borough of Leyton, we will do all we can to point you in the direction of some of the best deals on the market. We help all our customers find their dream home or apartment, with professional care and advice along the way. Call us today.

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