It can be both an exciting and daunting time when you make the decision to purchase a home, the whole process can seem quite complex. – so, we’ve pulled together a few hints and tips that you might find useful.
Bills Bills Bills
- Make sure that you look at all the costings and do your sums so you don’t get any surprise bills!
- Your solicitor will be able to provide you with a fees estimate for the property purchase including successfully offering for a property and concluding missives
- Your mortgage advisor will take you through the mortgage approval process and discuss the best finance options and levels available to you.
- Make sure you do your home work and look at the prices that other properties have sold for in the area that you are looking to purchase in; especially those that are a similar size or condition. Some Estate Agents set an asking price lower than what the Seller is looking to achieve – this is particularly true in very buoyant markets, for example in Edinburgh and Glasgow.
- Know the system – if you have not bought a property before, recently or only have experience buying in England, ask your Solicitor how the purchasing system works in Scotland so you know what to expect.
- Look at when the properties were first listed and how long they stay on the market before being sold. (Many of the main property portals will show the date that the property was listed and last updated)
Be Open Minded
- When looking to buy property you need to be ready to compromise on some elements. You might think you know exactly what you want when you start looking but, unfortunately you might not quite be able to find everything that you are looking for within your budget or a particular area you’re looking at so, try and keep an open mind when viewing.
- Don’t be dismissive of suggestions made by selling agents for alternative properties; not all Estate Agents are target driven (Solicitor Estate Agents tend not to be) and most will have visited the house that they are selling; any may just know the perfect property for you before you do!
- Buying a property can be quite subjective follow your head and not your heart….although you do need a bit of heart in your decision making.
Cast Your Net Wide – Don’t Just Rely On The Web
- Get out there and have a look; go and view as many properties as you can. – even take a drive or walk through the local area at different times of the day. This allows you to narrow down the location; and the type of property. It also allows your to reasses your ‘needs’ and ‘wants’ list.
- Many people these days search for properties online and think if they have viewed the images and read the text online only, that they can shortlist and dismiss properties simply by looking on a website. Don’t. Go and view the properties and ask lots of questions. Then you know you have made a fully informed choice
Selling agents will normally contact you after you have viewed one of their properties this plays a huge part in both buying and selling! Not only does it allow the selling agent and their clients to address any concerns or make improvements to the way a property presents or to the marketing, but it can also help the selling agent make recommendations for other properties which may suit your needs better! Don’t be scared of being honest – you wont like every property you see and its ok to say that but keep it constructive feedback.