A step-by-step guide for newcomers to demystify the purchasing process.
Blog Post:
Buying a home can feel overwhelming, but breaking it down into steps makes it manageable. Here’s what to expect during the home-buying journey, from initial planning to getting the keys.
Step 1: Determine Your Budget
Assess your financial situation to decide how much you can afford. This includes considering your deposit, monthly mortgage payments, and any additional costs like fees and insurance.
Step 2: Get a Mortgage Agreement in Principle
Before you start viewing properties, getting a mortgage agreement in principle (AIP) shows sellers you’re serious and provides a clearer budget range.
Step 3: Start House Hunting
With a clear budget, begin your search! Explore property listings, attend viewings, and work with an estate agent to find the best options.
Step 4: Make an Offer
When you find a property you like, submit an offer. If accepted, it’s time to instruct a solicitor and start conveyancing.
Step 5: Conduct a Survey
A survey will assess the property’s condition, alerting you to any issues before you commit fully. Surveys vary, so discuss with your solicitor to find the most suitable type.
Step 6: Finalise the Mortgage
Complete your mortgage application with your lender. They’ll require details about the property and may request additional documents.
Step 7: Exchange Contracts and Complete the Sale
Contracts are exchanged, securing the sale, and then you’ll set a completion date. Once the sale is final, you’ll get the keys to your new home!
