Only look at houses in your budget
Before you start to look at houses, you need to be sure of your budget. If you are getting a mortgage, the amount your home can be worth will be dependent on the deposit you can get together. You also need to make sure that you will be able to afford the monthly mortgage repayments comfortably. This is the time when you need to be realistic. You also need to ensure that you budget for other hidden costs. Try not to fall in love with a house that is slightly over your budget or right near the top end as it could leave you in financial difficulty further down the road. Be strict and stick to your budget.
Think about using a mortgage broker
If it is your first time buying a property, or you like to have someone to guide you through the process, you might want to think about hiring a mortgage broker. They will work with you to help you to find the right mortgage for you and can give you lots of expertise and advice to make the whole process easier to understand. They might even have access to more suitable mortgage deals for your particular circumstances. A mortgage broker will also help you to fill out your mortgage application so that you don't have to deal with as much paperwork. It will also reduce any worries you have about whether you're filling it out correctly.
All mortgage brokers, like Altrua Financial, have to be fully qualified to give you advice, so you don't have to worry if the information you are getting is correct.
Make sure you get a survey
A survey is an inspection to look at the condition of the property. They will be able to advise you if the property you are looking at has any structural problems, or if any major repairs will need doing. Getting a survey will help you to avoid buying a house and then finding out that you have to spend a considerable chunk of money on unexpected repairs. It can also help you to negotiate the price of the house. If you find out something is wrong with the house, but you still want to buy it, you can ask for a reduction in price equal to how much the repairs will cost you.
There are different types and depths of surveys that you can get depending on the age and condition of the property.
Make sure that you do not mistake the property report, valuation, or any other documents that your solicitor sends you for the survey. You will need to pay extra, but it will be worth it for peace of mind.
