Deciding to finally buy your own home is a momentous event – and one of the most important purchases you will ever make. Buying your first home is also a brand new experience for a lot of people with lots to consider. It’s not unusual to feel a little overwhelmed by everything that you need to keep track of.
Edward Mellor has a proud history of helping first-time buyers find the right property, with our fully integrated property and financial services. We’ve put together this quick guide to help you get into the right frame of mind to take on the property market and offer practical advice on who to talk to when purchasing your first home.
Everybody has an idea of what their dream home will look like, but it’s important to keep an open mind about what you are looking for and what you can afford. This doesn’t mean that you need to settle for a property that you aren’t happy with, but dismissing certain property types out of hand can mean that you narrow down your search and cause you additional stress.
Likewise, investing time looking at properties that you can’t afford will cost you a lot of time and quickly become disheartening.
If you have already spoken to a mortgage advisor or arranged an agreement in principle, you should have a clearer idea of how much you could potentially borrow and which properties are within your price range.
Looking for the right property can be a time-consuming task with a lot of ground to cover. Talking to your local estate agent can help you gain better insights into what properties are available in your area, or even up-and-coming areas that you may not have previously considered.
Never underestimate the value of expert advice and the advantage of being able to consider more properties than you would have been able to find on your own.
Buying a home is more about the immediate bricks and mortar of your new property. Your home will incorporate the surrounding area and neighborhoods, so it’s important to know whether the property’s location is suitable.
When looking at a property, also take the time to look at what’s nearby and pay attention to local travel links, amenities, shops and schools.
Edward Mellor Mortgages offers its customers exclusive House Buyer Reports for every home we sell, which are designed to make property searches simple by providing everything you need to know about a prospective property and the surrounding area.
Although estate agents are an invaluable resource in your search for a new home, don’t forget to also make use of property listing websites.
The advantage of sites such as Rightmove or On The Market is that they can often host properties that are for sale or rent through a number of different agents. They are also open 24 hours a day, which means that you can take the time to browse for potential properties at a time that suits you.
It’s also worth keeping an eye on the social media of local estate agents, as many will add up-to-date details of the latest properties that have hit the market. At Edward Mellor, all of our local branches upload all new listings to their social media pages, so that new properties are advertised the moment they come to market.
Speaking with a mortgage advisor sooner rather than later can help you to get a realistic understanding of how much you could borrow, what fees you’ll need to pay when buying a property, and how much you’ll pay each month on your mortgage.
Not only does this information make it easier to focus on properties that are within your price range, working with a mortgage advisor can also make it easier to find the right mortgage product.
Edward Mellor has been pairing clients with their perfect mortgage for over 30 years, by comparing rates from over 50 lenders.
If you would like to speak to a mortgage advisor, simply book a mortgage appointment using the form here.
Related Pages
Book a mortgage appointment | Mortgage and Protection Guides
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
