The 10 steps to buying a house
The steps to owning a house may seem complicated at first but owning your dream home is easier than you think. Follow this simple 10-step guide to buying a house and you’ll be well on your way.
Step 1: Are you ready to become a homeowner? Buying a house is a huge financial and mental decision so you need to be 100% sure that it is the correct journey for you. There is no harm in delaying the process for a few months and if you think that renting is the best option for yourself, then be honest. You also need to decide what you can afford.
Step 2: Start saving for a deposit. The higher your deposit the less you will owe the bank so carefully budget for a few months before you decide to buy.
Step 3: Find an estate agent. Most agency business is done on word of mouth so ask around. It can be difficult to decide on an agent but find out which company your friends used and look at local reviews.
Step 4: Get a mortgage pre-approval. You will probably need a mortgage to finance your home purchase so meet with a lender to discuss options. Finding out how much you can afford is crucial before you begin the viewing process.
Step 5: Start viewing. It’s the exciting bit – once you’ve set a budget you can set aside your evenings and weekends to view a selection of homes. Two pairs of eyes are better than one so take a friend along and ask any questions you have.
Step 6: Choose a property. The viewing process can take weeks or even months so don’t get disheartened. Not every property will be what you are looking for but keep going and when you do eventually find the one, you’ll know.
Step 7: Make an offer. Your estate agent will help you decide on an appropriate offer but most home sellers are willing to negotiate slightly.
Step 8: Start the legal work. Buying a home involves lots of legal work and the signing of papers. After an offer has been accepted, solicitors can begin their work and surveys will also be taken. It might sound confusing but your agent will be on hand to explain everything in detail for you.
Step 9: Exchanging the keys and insuring the house. You’re almost there! Once you’ve set a date to exchange keys and move in, you must insure your house against potential damage.
Step 10: Get moving! Time to pack up your stuff and move into your new home! See it wasn’t that difficult was it?
If you have any questions about buying a property, then get in touch today.