What Do You Need to Know as a First Time Buyer?
Finishing university and finding your ideal job is the start of a new and exciting stage in your life. After many years of sharing apartments and spending a lot of money on rent and deposits you may finally dream of investing in your place.
The truth is, not many people can afford to buy a property straight out of university as they are riddled with student loan debt. Even if they didn’t go to university and started working straight out of school it’s tough. For most, the reality after university is staying in rented accommodation or moving back in with parents to start saving for a decent deposit.
Whatever stage of life you are at if you do decide to buy there are still some tips that may seem obvious but can be overlooked:
- Can I afford it? Mortgages can help you with your financial situation but you should always keep monthly payments in mind.
- Find a friendly area. You wouldn’t like to wake up one day and find out that there is a rubbish collection point next to your house, right? Make sure before closing the actual deal, you have all the information about the area you’re investing in.
- Is it big enough? Buying a house also means thinking about the future. If you’re planning to have a family, make sure your property has enough space.
- Ask the correct questions. Don’t get carried away and make a hasty decision. Before putting in an offer, do your homework and calculate all the costs (including Stamp Duty!)
Understanding the Procedures
Here at Edward Giles we understand how important it is to save money on mortgages and more when finding your dream home. We have worked and assisted many people before you.
Send us a mortgage quote request to obtain more information and let us guide you through the process. We will take you step by step from the initial viewing to legal documents and finally signing the contract.
Soon your only concern will be what colour to paint the walls!