For many first-time property buyers, the process of buying residential property can seem a scary undertaking. In this situation, you may be unfamiliar with the standard procedure and therefore not aware of some ESSENTIAL steps to take before completing the purchase.
That is why the team here at White Horse Surveyors have put together the following article. Highlighting some of the most important for any first-time property buyer…
Make Sure to Plan Ahead and Consider the Market
For any home buyer, the process of purchasing a residential home represents a highly important decision. That is why it is important to be realistic and sensible with your research on the property.
Take the time to investigate the market, looking at the current circumstances as well as future projections. Think about the stability of not only the market but also your personal finances.
By choosing the wrong time to invest in residential property, you could end up paying much more the property is worth as well as reducing the overall stability of your investment.
Ensure That the Property is Suitable for any Future Plans
Purchasing residential property should not only be a significant achievement in your personal life but also a major factor in any future plans you may have.
It is for this reason that, any home you purchase should align with your goals and aspirations. This includes:
Room for a new family (partner or baby)
Potential for renovations or extensions (adding value)
Downsizing later down the line (selling the home)
By accounting for all the above elements, you can help to ensure that your investment is working to secure your plans as well as your finances.
Think About Any Additional Fees
Lasty, an essential course of action when buying property, is to make sure that you are aware of any other potential payments associated with the purchase. This includes:
Property Surveys – To help ensure that you are making a confident and informed purchase, you should request an independent RICS qualified Surveyor to inspect the property on your behalf.
Legal Fees – The legal advice and personal guidance of professionals with many years of experience in the field is invaluable but will undoubtedly generate a hefty price tag.
Repairs – If your property survey ends up highlighting several issues that require immediate attention (or you were planning on renovating the property yourself) it is important to set aside a substantial portion of your budget for repairs.
Furniture and Fixtures – If you are first-time buyer, you will also need to factor in the costs of furniture, fixtures, and fittings.
If you are thinking about putting your property on the market and would like independent and impartial advice on your best course of action, please do not hesitate to contact our helpful and friendly sales team.
Or get an instant quote via https://www.whitehorsesurveyors.co.uk/whs-quote/.
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