Whether it’s your first home or your third, buying a home is an exciting experience. It can also be extremely stressful and confusing. By following these steps, you can plan out your purchase process to take some of the anxiety out of buying a home.
Focus on Finances
Before you look at your first house listing, you must know what you can afford. If you plan on paying cash, this step should be easy. However, if you are like many people in the UK, you will need to find out what financing options are open to you. Consulting with a lender or mortgage broker will help you get a mortgage in principle, which will tell you how much you could borrow. If you’ve had some time to save up for your deposit, you can include this in your estimate.
Do Your Research
Now that you know what price range you are looking in, it’s time to start researching properties. The most important step is deciding where you want to live. Norfolk is packed with variety, giving new buyers a range of options for any lifestyle. Young professionals are often drawn to places like Norwich, which is packed with artistic flair and a thriving entertainment scene. Use online resources to help you in your search. For example, you can register with online property portals to receive alerts when new properties are listed and others come down in price.
Speak to Norfolk Estate Agents
Online information alone is not enough when house hunting since some great properties never even get listed on the major real estate websites. Try to also cultivate strong relationships with local estate agents in Norfolk. There may even be specialists who focus on the type of home you want. Visiting their offices in person can surface more possibilities than digital communication alone. By building connections locally, you can gain access to insider opportunities.
Get Expert Advice from a Surveyor
Once you’ve found a property in an area you like, at a price you can afford, it’s time to look at the more serious aspects of buying a home. Make sure the property you want is your dream home and not a nightmare with a good coat of paint. Calling in an expert for a RICS Home Survey Level 2 will help you buy with confidence. If the property is historic, a listed building, or in need of refurbishment, you can opt for a RICS Home Survey Level 3 to get a more detailed picture. For a full breakdown of what each survey offers and what is included in a homebuyer’s report, you can learn more here.
Get Your Funding
Now that you have your building survey in hand and you know as much about your new property as you can, it’s time to get your final sign-off on your funding. Search around for a good deal on your mortgage. Mortgage comparison sites are great for helping buyers get good interest rates from trusted lenders, so use this resource when you need it.
Register Your New Home
Once your mortgage has been approved, you are close to becoming a homeowner. But first, the legal title to the property needs to be transferred into your name. This is usually done through a conveyancing solicitor. Once this process has started, your lender may appoint their own solicitor to register the mortgage charge, or they may ask your solicitor to do this also.
Buying a property is a lengthy and complicated process, but it doesn’t need to be overly stressful. With some planning and expert advice, you can take most of the anxiety out of buying your new dream home.